NEW YORK — Federal prosecutors told a jury Monday that a former Goldman Sachs executive pocketed $35 million in “secret kickbacks” in the multibillion-dollar ransacking of a Malaysian state investment fund, accusing the banker of playing a “crucial” role in the massive money laundering and bribery scheme. “He saw an opportunity to make millions of dollars by cheating,” Wible said, …
To attract investors to its new sovereign fund, Indonesia needs to show governance protocols are airtight, analysts say. Indonesia will need to step out of the shadows of neighboring Malaysia’s 1MDB scandal to convince investors that its new wealth fund won’t fall prey to corruption. Nusantara Investment Authority will take lessons from other sovereign wealth funds and adopt a framework …
