Hong Kong slaps record $350m fine on Goldman Sachs over 1MDB

Pedro Gonçalves
Hong Kong slaps record $350m fine on Goldman Sachs over 1MDB

Hong Kong's markets watchdog on Thursday fined Goldman Sachs's Asian business $350m for its role in Malaysia's multibillion-dollar 1MDB scandal, the highest fine ever imposed by Hong Kong's Securities and Futures Commission (SFC).  Goldman Sachs ignored multiple red flags over the multibillion-dollar fundraisings it arranged for state fund 1Malaysia Development Berhad, a financial scandal that stretched to Hollywood from Southeast Asia, and toppled a government in Malaysia. The SFC said...

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