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Aya Lin · · 1 min readIn brief: Alibaba president among those charged over Malaysia’s 1MDB deal
- Alibaba Group Holding president Michael Evans is among 17 current and former Goldman Sachs executives facing charges over their alleged role in US$6.5 billion of bond sales by Malaysian state-owned investment fund 1MDB, Bloomberg reported.
- Evans, like others charged, now faces custodial sentences and criminal fines in a case with global ramifications, with accusations that the group misled investors when arranging deals for 1MDB.
- Of US$8 billion that 1MDB raised via bond sales, the US alleges more than half was siphoned off.
- Evans, who joined Alibaba in 2015, helped with the Chinese giant’s push into Southeast Asia through the acquisition of a stake in Lazada.
Editing by Charmaine de Lazo
(And yes, we’re serious about ethics and transparency. More information here.)
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