A spin around the globe to see how markets ended the week and later a series of blockbuster films have been delayed due to the pandemic we welcome in a movie Industry Expert to discuss what effect it will have on the bottom line we have a packed show today so lets dive right in. And a huge settlement today as u. S. Investment Bank Goldman Sachs has agreed to pay a 3900000000. 00 settlement over malaysias criminal probe into the multibillion 1. 01 m d b scandal now the settlement could also help bring an end to the u. S. Justice departments investigation into the same issue now the deal includes a 2500000000. 00 cash payout by goldman and its guaranteed to return at least 1400000000 dollars in proceeds from assets linked to the Sovereign Wealth Fund one Malaysia Development b h d now malaysian and u. S. Authorities estimate 4500000000. 00 was stolen from one m d b in an elaborate scheme that spanned the globe. And implicated high level officials in the in the fun former malaysian Prime
A series of blockbuster films have been delayed due to the pandemic we welcome in a movie Industry Expert to discuss what effect it will have on the bottom line we have a packed show today so lets dive right in. And a huge settlement today as u. S. Investment Bank Goldman Sachs has agreed to pay a 3900000000. 00 settlement over malaysias criminal probe into the multibillion 1. 01 m d b scandal now the settlement could also help bring an end to the u. S. Justice departments investigation into the same issue now the deal includes a 2500000000. 00 cash payout by goldman and its guarantee to return at least 1400000000 dollars in proceeds from assets linked to the Sovereign Wealth Fund one Malaysia Development b h d now malaysian and u. S. Authorities estimate 4500000000. 00 was stolen from one m. T. B. In an elaborate scheme that spanned the globe and implicated high level officials in the in the fun. Prime minister Najib Razak Goldman staff and many others joining us now to discuss his bo
12000000000. 00 in debt brought almost no development into the country did things like you know try to buy a private powerplants but again it drove up debt and now what weve learned of course is that it was actually sitting off huge amounts of this money it was being misappropriated and going to elected officials and bankers at Goldman Sachs and now it was that Investment Fund that Authorities Say was the focus of massive amounts of pfeffer what can you tell us about that. A lot so essentially when we say massive amounts of theft were talking about about 4500000000. 00 stolen out of this fund just that number alone is a stunning number right. 8000000000. 00 is what originally flowed in 4500000000. 00 was misappropriated going again to all kinds of government officials you know the Prime Minister himself was was a recipient of a gift of about 680 1000000. 00 which after he was removed from office in 2018 he says that well that was repaid it was given back the whole thing was just an abs
A series of blockbuster films have been delayed due to the pandemic we welcome in a movie Industry Expert to discuss what effect it will have on the bottom line we have a packed show today so lets dive right in. And a huge settlement today as u. S. Investment Bank Goldman Sachs has agreed to pay a 3900000000. 00 settlement over malaysias criminal probe into the multibillion 1. 01 m d b scandal now the settlement could also help bring an end to the u. S. Justice departments investigation into the same issue now the deal includes a 2500000000. 00 cash payout by goldman and its guarantee to return at least 1400000000 dollars in proceeds from assets linked to the Sovereign Wealth Fund one Malaysia Development b h d now malaysian and u. S. Authorities estimate 4500000000. 00 was stolen from one m. T. B. In an elaborate scheme that spanned the globe and implicated high level officials in the in the fun former malaysian Prime Minister Najib Razak Goldman staff and many others joining us now t
Around here which is this is one malaysia or development it was essentially the governments Investment Firm right which was set up to encourage outside development and investment into malaysia thats why it was set up was back in 2009 it was the then Prime Minister. Who was in charge of this right and he actually was on that Advisory Board headed up the whole idea was were going to bring investment into the country sounds good the problem is it didnt do that instead it was wound up creating massive amounts of debt running up about 12000000000. 00 in debt brought almost no development into the country did things like you know try to buy a private power plants but again it drove up debt and now what weve learned of course is that it was actually sitting off a huge amount of this money it was being misappropriated and going to elected officials and bankers at Goldman Sachs and now it was that Investment Fund that authorities say. Was the focus of massive amounts of theft what can you tell