The Goldman lunch that set the stage for the 1MDB financial scandal

The Goldman lunch that set the stage for the 1MDB financial scandal

Signage for 1Malaysia Development Bhd. (1MDB) is displayed at the site of the Tun Razak Exchange (TRX) project in Kuala Lumpur, Malaysia, on Friday, July 17, 2015. Photographer: Goh Seng Chong/Bloomberg

In a private dining room at Singapore’s Taste Paradise restaurant, over a meal of abalone and suckling pig, two Goldman Sachs Group Inc. bankers were explaining a $1.75 billion bond offering to six executives of a Swiss bank.

It was early 2012, and joining Goldman bankers Roger Ng and Tim Leissner that day were a young Malaysian financier named Low Taek Jho and an official from state investment fund 1Malaysia Development Bhd., known as 1MDB, which had hired the New York bank to underwrite the bond sale.

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