- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
Tom Fox looks at the alleged looting of Malaysian sovereign wealth fund 1MDB and the implications it has for fighting global corruption.
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The Department of Justice reached a settlement to recover more than $49 million in assets associated with the international money laundering and bribery scheme involving Malaysia’s state development fund 1MDB.
Goldman Sachs disclosed has received subpoenas and requests for documents and information from various governmental and regulatory bodies and self-regulatory organizations as part of investigations and reviews relating to financing transactions and other matters involving 1MDB, Malaysian government’s sovereign wealth fund.
It was reported that two U.S. lawyers had proposed a success fee in the amount of $75 million, if they could get the Department of Justice to drop its investigation into the 1MDB “quickly.”
