Goldman Sachs, one of the largest contributors to Democrat presidential candidate Joe Biden’s campaign, was charged in a foreign bribery scheme in Malaysia.
Goldman Sachs has pleaded guilty and agreed to pay nearly $3 billion to end a probe of its role in the 1Malaysia Development Bhd (1MDB) corruption scandal, in which billions of dollars raised for public development projects in Malaysia turned into public officials’ hands.
U.S. Department of Justice officials said the record settlement reflected Goldman Sachs’s “central” role in a “massive corruption scheme” that caused “significant harm” for the people of Malaysia.
“That harm was borne principally and in the first instance by the people of Malaysia, who saw a fund created to benefit them … instead turned into a piggybank for corrupt public officials and their cronies,” said Brian Rabbitt, acting assistant attorney general of the Justice Department’s criminal division.
In all, Goldman Sachs is due to pay about $5 billion in penalties to regulators around the world, including UK, Hong Kong, and Singapore.
According to CNN, Biden has raised $154,584 from executives and employees at Goldman Sachs, compared to just $11,943 for President Trump who ranks well behind House Speaker Nancy Pelosi, US Senator Lindsey Graham and others.
Goldman Sachs executives Kathy Matsui and Richard Friedman have poured almost $105,000 into the Biden Victory Fund and the Biden Action Fund in June alone.
Donald Mullen Jr., the former Goldman executive who devised the “Big Short” scheme that allowed the bank to profit during the financial crisis, has donated $200,000 to Joe Biden’s Victory Fund, reported Free Beacon.
The former Goldman Sachs executive who devised the “Big Short” and told colleagues they would make “serious money” off the housing market collapse has poured $200,000 into Joe Biden’s victory fund, filings show.
Via @JoeSchoffstall https://t.co/np9AnnBUhY
— Free Beacon (@FreeBeacon) October 20, 2020
Mullen, who has become known as the man who “screwed America’s economy,” also maxed out donations to the Democratic National Committee, groups like VoteVest and Lincoln Project, and Democratic candidates, Free Beacon reported.
The news came amid increased scrutiny the Biden family is facing over alleged corruption. A former business associate of Hunter Biden, Tony Bobunlinski, said Tuesday, Oct. 27, that Biden’s denials of knowledge or involvement in his son’s overseas business dealings are “a blatant lie.”
During the Tuesday interview with Fox News’s “Tucker Carlson Tonight,” Bobulinski said the Biden family ignored concerns that Joe Biden’s alleged involvement in his son’s deals could impact his 2020 presidential aspirations.
“I know Joe decided not to run in 2016, but what if he ran in the future? Aren’t they taking political risk or headline risk? And I remember looking at Jim Biden and saying, ‘How are you guys getting away with this? Like, aren’t you concerned?’” Bobulinski told Carlson. “And he certainly looked at me and he laughed a little bit and said, ‘plausible deniability.'”