SINGAPORE – The republic’s central bank here says it is examining the extent of involvement by Goldman Sachs’ local unit in bond deals for Malaysian state investor 1Malaysia Development Berhad (1MDB).
The Monetary Authority of Singapore (MAS) has been questioning banks and financial institutions since last year as part of investigations into possible money laundering in the city-state linked to 1MDB.
“MAS supervisory examination into the extent of Goldman Sachs (Singapore) Pte’s involvement in the 1MDB bond deals is still ongoing,” a MAS spokesman Saturday said in an emailed statement to Reuters.
Last week, Singapore said it had seized assets worth S$240mil (RM720,000) as part of a money laundering probe linked to 1MDB and would take action against some of the biggest banks based in the city-state for handling transactions linked to the fund.
“MAS will take decisive regulatory actions against any financial institution or individual in Singapore that has breached regulations or failed to meet the expected anti-money laundering standards,” it said.
A Goldman Sachs spokesman in Hong Kong declined to comment on the Singapore inquiry.
The US government alleged this month that billions of dollars were diverted from bond deals arranged by Goldman, for the personal use of officials and some people associated with the state fund.
US prosecutors have filed civil lawsuits to seize more than US$1bil(RM4.02bil) in assets they said were tied to money stolen from the Malaysian fund.
1MDB has said it is not a party to the civil suits, does not have any assets in the United States, nor has it benefited from the various transactions described in the suits.
Goldman Sachs has not been accused of any wrongdoing by US authorities. – Reuters/The Star Online