Investor Alert: Kaplan Fox Announces Investigation Of Goldman Sachs Group, Inc.

NEW YORK, Nov. 14, 2018

Since late 2015, the U.S. Department of Justice has been investigating Goldman Sach's role in an alleged multibillion-dollar fraud and money-laundering scheme involving a Malaysian government fund, 1Malaysia Development Berhad, or "1MDB".

On November 1, 2018, federal prosecutors unsealed indictments against Tim Leissner ("Leissner"), the former head of Goldman Sachs' Southeast Asia business, and his then-deputy, Roger Ng ("Ng"), related to their involvement in the alleged money laundering scheme.  Leissner pleaded guilty to conspiring to launder money and to violating anti-bribery laws, and Ng was arrested in Malaysia.  In Leissner's criminal information, he admitted acting "within the scope of his employment" at Goldman Sachs and "with the intent, at least in part, to benefit" the bank.

On November 8, 2018, Bloomberg reported that the firm's then-CEO, Lloyd Blankfein was the high-ranking Goldman Sachs executive referenced in U.S. court documents who attended a 2009 meeting, with Leissner, to establish ties with Malaysia and its new sovereign wealth fund that was referenced in the court documents.

On November 12, 2018, multiple news sources reported that Malaysia is seeking a full refund of all the fees it paid to Goldman Sachs for arranging billions of dollars of deals for the troubled 1MDB fund.

Following this news, shares of Goldman Sachs stock fell $16.60 per share, about 7.5%, to close at $206.05 per share on November 12, 2018.

If you are an investor in Goldman Sachs and would like to discuss our investigation, please contact us by emailing jcampisi@kaplanfox.com or by calling 800-290-1952.