February 4, 2020 / 4:31 PM / 14 days ago

Goldman partner embroiled in 1MDB scandal exits bank - FT

Feb 4 (Reuters) - A Goldman Sachs partner, who was put on leave over a year ago because of the 1MDB scandal, has left the firm as part of a settlement with the Federal Reserve, the Financial Times reported on.ft.com/36XOiw8 on Tuesday, citing sources.

Andrea Vella, formerly Goldman Sachs’ co-head of investment banking for Asia Pacific, was on administrative leave since Nov. 2018 over his role in the bank’s work for 1MDB, the Malaysian sovereign wealth fund.

Goldman is in talks with the U.S. government and regulators to resolve investigations into its role in the 1MDB Malaysian corruption scandal.

The government of former Malaysian prime minister, Najib Razak, set up the 1MDB fund in 2009, and the U.S. Justice Department estimated $4.5 billion was misappropriated by high-level fund officials and their associates between 2009 and 2014.

Reporting by Bharath Manjesh in Bengaluru; Editing by Vinay Dwivedi

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