Professor Elam

Tuesday March 8, 2016

GOLDMAN ADVISER TO 1MDB QUIT AFTER ALLEGED VIOLATIONS

The Goldman Sachs Group Inc. partner who handled deals for the controversial Malaysian state investment fund known as 1MDB, which was involved in power plants, an oil company and a petroleum investment firm, was suspended and later quit after investigators found he allegedly violated company policies, Justin Baer and Ken Brown report.

Goldman placed Tim Leissner, its Southeast Asia chairman, on leave after a review of his email found that he had allegedly sent an unauthorized reference letter on behalf of an individual to another financial firm in 2015. The letter also included statements that Goldman believes to be inaccurate. The letter wasn’t linked to business that Goldman did for the Malaysian fund, and the firm has found nothing wrong with his dealings with the fund.

In Brazil, pressure is building to oust President Dilma Rousseff following last week’s police questioning of her political mentor, Luiz Inácio Lula da Silva, in connection with the Petróleo Brasileiro SA corruption scandal, Paulo Trevisani and Marla Dickerson report.