Fed permanently bars Goldman banker over 1MDB

New York (AFP) – The Federal Reserve permanently barred a senior Goldman Sachs executive from the banking industry over the 1MDB scandal, the US central bank announced Tuesday.The Fed action affects Andrea Vella, who had been placed on leave amid a crackdown over 1MDB, the scandal-plagued Malaysian investment fund for which Goldman Sachs helped raise $6.5 billion. The Justice Department has said more than $4.5 billion was stolen from 1MDB by high-level officials at the fund and their associates between 2009 and 2015.Vella “engaged in unsafe and unsound practices” by failing to take action over…

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