Former Co-Head Of Investment Banking At Goldman Asia Banned For Life By The Fed

Featured Story

This image has an empty alt attribute; its file name is Bankster-Logo-2.png

Former Goldman Sachs partner Andrea Vella has been barred from the industry over his involvement in the Malaysian investment fund scandal known as 1Malaysia Development Berhad (1MDB), a press release from the Federal Reserve said Tuesday. 

This image has an empty alt attribute; its file name is Bankster-Logo-2.png

Vella, a former the Goldman Sachs’ co-head of investment banking for the Asia Pacific, was placed on leave in 2018 after he neglected to tell compliance about illicit activity in 1MDB bond offerings conducted by the bank in 2012 and 2013. 

“Goldman arranged bond offerings in 2012 and 2013 for 1Malaysia Development Berhad (1MDB), Malaysia’s state-owned development and investment company. The consent order states that Vella failed to escalate Low Taek Jho’s involvement in the bond offerings. Low was a person of known concern to Goldman, and his involvement indicated heightened potential underwriting risks. 

Low and two former Goldman employees, Tim Leissner and Roger Ng, have been criminally charged by the Department of Justice for participating in a scheme to divert proceeds of the bond offerings from 1MDB for their personal benefit and bribing certain government officials in Malaysia and Abu Dhabi,” the press release stated. 

Bloomberg noted that Vella was able to negotiate with the Fed to leave the industry without admitting or denying wrongdoing. 

A Goldman spokesperson said Vella exited the firm several days ago.  

Receive a daily recap featuring a curated list of must-read stories.

The Fed’s release noted Vella was barred from the industry and “fined $1.42 million for his role in the scheme to divert bond proceeds.” 

Goldman continues to negotiate with the Department of Justice on a settlement for its role in the 1MDB scheme, where Low had siphoned over $4.5 billion from the state-owned wealth fund from 2009 to 2015. 

And what we have here is another example of how a top Goldman banker gets a slap on the wrist for one of the biggest frauds in history. Nevertheless, it also shows how these bankers were given mega deals thanks to kickbacks.  Source: ZeroHedge

StevieRay Hansen
Editor, Bankster Crime

This image has an empty alt attribute; its file name is Bankster-Logo-2.png

MY MISSION IS NOT TO CONVINCE YOU, ONLY TO INFORM YOU…

Fraud Banks Money Corruption Bankers

“Have I therefore become your enemy by telling you the truth?”

Tagged Under: Fraud,Banks,Money,Corruption,Bankers


Don't Miss

“We Worry About Armed Conflict”: Investors Are Suddenly Freaking Out About Post-Election Violence

By StevieRay Hansen

Earlier we reported that amid fears of election night chaos, the White House has been put on lockdown, and that according to NBC sources, beginning…

Read More

DoubleLine: Digital Currencies Will End The Dollar’s Status As The World’s Reserve Currency

By StevieRay Hansen

We most recently described the Fed’s stealthy plan to deposit digital dollars to “each American” during the next crisis as an unprecedented monetary overhaul, but more…

Read More

Peter Schiff: The Fed Has Never Been Right

By StevieRay Hansen

Peter Schiff delivered a key-note speech at the Virtual Investor Day Conference. He walked through the history of the Federal Reserve’s monetary policy over the…

Read More

Flying Blind: Clueless About Risk, We’re Speeding Toward Systemic Failure

By StevieRay Hansen

For all these reasons, the risks of systemic collapse are much higher than commonly anticipated. There’s an irony in discussing risk: since we all have an instinctive…

Read More

Crime Pays: Goldman Strikes $2BN Deal With DoJ To Avoid All Charges Tied To 1MDB

By StevieRay Hansen

Goldman Sachs is reportedly on the cusp of settling one of the biggest criminal cases involving a Wall Street bank since the financial crisis: According…

Read More

Futures Jump Ahead Of Tuesday Stimulus Deadline

By StevieRay Hansen

Bulls will breathe a sigh of relief that on the 33-year-anniversary of Black Monday (when the Dow dropped 22.6% on this day in 1987) futures…

Read More

This Is Not Sustainable, Were Watching What the World Is Now Calling the Great Reset

By StevieRay Hansen

(Reality–New World Order Pukes ) Our President Knows the End Is Near With the Current Financial Apparatus… The U.S. government spent more than $3.13 trillion…

Read More

Banks Are In Trouble: Wells Tumbles As Revenues Plunge, NIM Hits Record Low, Warns On Payment Deferrals

By StevieRay Hansen

If there is one constant during earnings season, it is that no matter what the other banks do, Wells Fargo will always shit the bed,…

Read More

No Stimulus, No Problem: One Bank Sees “No Armageddon” Without A New Stimulus Deal

By StevieRay Hansen

In recent weeks, many have opined – this website included  – that with the US economy careening into a double dip recession (or perhaps depression), it is…

Read More

The Pandora’s Box Of Fed’s Digital Currency Will Ignite An “Inflationary Conflagration”

By StevieRay Hansen

We most recently described the Fed’s stealthy plan to deposit digital dollars to “each American” during the next crisis as a unprecedented monetary overhaul, but…

Read More

StevieRay Hansen

Leave a Comment