![Goldman Sachs faces first criminal charges in 1MDB scandal - Los Angeles Times](https://www.latimes.com/resizer/48z7UlAmuL01bVHX7lAslAD0nO8=/1200x0/arc-anglerfish-arc2-prod-tronc.s3.amazonaws.com/public/IAKYGXEPQJGOVDHLRUQFYXVRUI.jpg)
“The criminal charges of this nature are grave, and it goes to the core of Goldman’s business as an investment bank,” said Nizam Ismail, a partner at RHTLaw Taylor Wessing LLP in Singapore. “If the outcome of the case results in a criminal conviction against the bank, there are potentially severe reputational and financial risks to the bank, as well as the bank’s standing as a licensed financial institution with regulators worldwide.”
Source: “Los Angeles” – Google News