A former Goldman Sachs banker has been convicted of bribery and other corruption charges accusing him of participating in a 4.5 billion dollar (£3.4 billion) scheme to ransack the Malaysian state investment fund known as 1MDB. Leonardo DiCaprio in The Wolf Of Wall Street (Alamy/PA)The embezzlement bankrolled lavish spending on jewels, art, a superyacht and luxury property. The spoils even helped finance wild parties and Hollywood movies, including 2013 Martin Scorsese film The Wolf Of Wall Street, starring Leonardo DiCaprio. Prosecutors alleged that he and other Goldman Sachs bankers helped 1MDB raise 6.5 billion dollars (£5 billion) through bond sales — only to divert 4.5 billion dollars to themselves and their co-conspirators through bribes and kickbacks. He was ordered to forfeit 43.7 million dollars as part of his guilty plea and agreed to testify against Ng.

Source: The Guardian April 08, 2022 17:13 UTC