Misfired Goldman trade in 2016 involved firm tainted by 1MDB

(Dec 5): An obscure Swiss bank implicated in Malaysia’s 1MDB corruption scandal was involved in another trade with Goldman Sachs Group Inc in 2016 that exposed the Wall Street firm to unexpected losses.

Falcon Private Bank had been a key player in the 1MDB drama since the end of 2015, when it first surfaced as a suspected conduit for hundreds of millions of dollars siphoned from Malaysia’s investment fund. By July of 2016, Singapore regulators found “substantial” breaches of money-laundering regulations at Falcon.