US Fed bars ex-Goldman Sachs executive for role in 1MDB scandal
The Federal Reserve said that Vella did not flag Low’s involvement despite knowing that Low was a 'person of known concern' to Goldman Sachs. — Reuters pic
Malaysian and US authorities have charged Low in connection with the theft of billions of dollars from 1MDB, which was originally set up by former Malaysia prime minister Datuk Seri Najib Razak to fund infrastructure projects. Vella could not immediately be reached for comment. According to the statement from the Federal Reserve, Vella consented to the bar without admitting or denying any of the allegations made by the regulator.
Vella managed two former Goldman Sachs bankers, Timothy Leissner and Roger Ng, who were both indicted by US prosecutors in November 2018 on charges related to their roles in securing Goldman as the underwriter for the three 1MDB bond offerings.
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