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The bizarre story of 1MDB, the Goldman Sachs-backed Malaysian fund that turned into one of the biggest scandals in financial history
It's one of the greatest scandals in financial history. "1MDB" started as a plan to fund Malaysian infrastructure projects but turned into $3 billion problem.
A luxury movie theater that IPO’d 18 months ago at a $200 million valuation has filed for bankruptcy
"Delays in development cycle combined with the high cost of capital depleted iPiC's available resources," said Hamid Hashemi, CEO.
IPIC alleges Goldman "played a central role in a long-running effort to corrupt former executives of IPIC and its subsidiary Aabar Investments, and mislead IPIC and Aabar."
A Middle Eastern investment giant is suing Goldman Sachs over the ‘massive international conspiracy’ of the 1MDB scandal
Abu Dhabi's IPIC filed a lawsuit in New York on Wednesday against Goldman Sachs seeking to recover losses from the 1MDB fund.
FILE PHOTO: A const...