The bizarre story of the Goldman Sachs 1MDB Malaysia fund scandal now has a Trump link
1MDB is one of the biggest financial scandals of all-time.
It has now emerged that the US Justice Department is allegedly probing a $100,000 donation to Trump’s Victory PAC in 2017 may have come from funds linked to disgraced Malaysian financier Jho Low.
Similarly, Tim Leissner, a top regional executive of Goldman Sachs, was recently banned from the banking industry by the Federal Reserve for his role in the scandal.
We broke down all the major events for you that stretched all the way back to 2009.
The crazy story of 1 Malaysia Development Berhad (1MDB) has branched out to the 2020 US presidential election with the US Justice Department allegedly looking into the source of funds donated to a Trump PAC.
The DOJ is allegedly probing a $100,000 donation to President Trump’s Victory PAC in 2017, which may have come from funds linked to disgraced Malaysian financier Jho Low, according to the Wall Street Journal.
Low is the Malaysian financier believed to be at the heart of the 1MDB scandal. 1MDB” started out as a government plan to fund infrastructure projects in Malaysia but turned into an alleged swindle to tune of more than $3 billion.
The donation was made in December 2017 by Larry Davis, co-owner of LNS Capital, as part of a campaign to re-elect Trump in 2020. The DOJ is trying to establish whether $1.5 million transferred to LNS Capital seven months earlier by Low were used to finance the donation.
Low is believed to be currently on the run somewhere in China.
Similarly, Tim Leissner, a top regional executive of Goldman Sachs, was recently banned from the banking industry by the Federal Reserve. Leissner previously pleaded guilty in the US to conspiracy relating to money laundering and bribery.
It’s alleged that Leissner had a cozy relationship …read more
Source:: Business Insider