Goldman Sachs CEO apologises for ex-banker’s role in 1MDB scandal

David Solomon, chief executive officer of Goldman Sachs & Co., looks on during a Bloomberg Television interview on the sidelines of the Bloomberg New Economy Forum in Singapore, on Wednesday, Nov. 7, 2018. The New Economy Forum, organized by Bloomberg Media Group, a division of Bloomberg LP, aims to bring together leaders from public and private sectors to find solutions to the worlds greatest challenges. Photographer: Giulia Marchi/Bloomberg

NEW YORK: Goldman Sachs Group Inc chief executive officer David Solomon (pic) has apologised to the Malaysian people for former ban­ker Tim Leissner’s role in 1Malaysia Development Bhd (1MDB) scandal, but said the bank had conducted due diligence before every transaction.

Goldman is being investigated by Malaysian authorities and the US Department of Justice (DOJ) for its role as underwriter and arranger of three bond sales that raised US$6.5bil (RM26.7bil) for the sovereign wealth fund.