1MDB: Plaut v. The Goldman Sachs Group Inc., SDNY

4 February, 2020

Andrea Vella, the former co-head of investment banking at Goldman Sachs Asia, has been banned from the banking industry for life by the Federal Reserve Board. Vella’s former colleagues Tim Leissner and Roger Ng were similarly banned last year. The bank facilitated the 1MDB fraud, earning almost $600 million in fees on three bond deals from the deeply corrupt Malaysian fund. That’s about 200 times more than the normal amount a sovereign issuer would pay. Each time, as soon as Goldman provided the money to 1MDB, Low would steal it.

 
[September 20 2019]
Screenshot 2019-09-20 at 9.06.12 PM - EditedA Swedish pension fund will control a class action against Goldman Sachs Group Inc. over the 1MDB scandal, a federal judge in New York ruled.
Sjunde AP-Fonden was named on Thursday as lead plantiff in the suit, which accuses the bank of misleading investors about its work with the Malaysian state fund. The law firm Kessler Topaz Meltzer & Check LLP was named as lead counsel.
U.S. District Judge Vernon S. Broderick’s ruling means that Sjunde AP-Fonden’s legal team will map strategy, oversee legal motions, manage settlement talks and divvy up the work among collaborating firms.
Plaut v. The Goldman Sachs Group Inc. et al., 1:18-cv-12084, U.S. District Court for the Southern District of New York.

Click to access 20181220_f01c_18CV12084.pdf

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