Goldman Sachs shareholders have written to the bank's board to demand investigation and potential legal action in relation to the money-laundering scandal surrounding Malaysian sovereign wealth fund, 1MDB.
The 27-page letter was delivered to the board of directors by investor law firm Grant & Eisenhofer on behalf of a pair of pension funds managed for Goldman investors Cleveland Bakers & Teamsters. The letter concerns Goldman Sachs' involvement in the global bribery and money-laundering scandal surrounding the Malaysian sovereign wealth fund, 1 Malaysia Development Berhad (1MDB), the law firm said. Based on public and confidential records obtained by the stockholders, the letter details how Goldman bankers conspired with Malaysian financier Low Jho and former Malaysian prime minister Na...
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