* MAS examining GS Singapore device’s role in bond offers * MAS has taken S$ 240 mln assets linked to 1MDB probe * Goldman Sachs HK spokesman declines remark
( Adds more MAS comment, background) By Saeed Azhar SINGAPORE, July 30 Singapore’s reserve bank said
on Saturday it is analyzing the degree of involvement by Goldman
Sachs’ local system in bond deals for Malaysian state
investor 1Malaysia Development Berhad (1MDB). The Monetary Authority of Singapore (MAS) has been
questioning banks and financial institutions because in 2014 as
part of examinations into possible cash laundering in the
city-state linked to 1MDB.
” MAS supervisory examination into the extent of Goldman
Sachs (Singapore) Pte’s involvement in the 1MDB bond deals is
still continuous,” an MAS spokeswoman stated in an emailed statement
to Reuters. Recently, Singapore stated it had taken possessions worth S$ 240.
million ($ 179 million) as part of a money laundering probe.
linked to 1MDB and would take action versus a few of the most significant.
banks based in the city-state for handling deals connected.
to the Malaysian fund. “MAS will take decisive regulative actions against any.
banks or person in Singapore that has.
breached regulations or failed to meet the expected anti-money.
laundering requirements,” MAS said in the statement.
A Goldman Sachs spokesman in Hong Kong decreased to comment.
on the Singapore inquiry. The U.S. government declared this month that billions of.
dollars were diverted from bond offers set up by Goldman, for.
the individual use of officials and some individuals associated with.
the state fund. U.S. district attorneys have submitted civil claims to seize more.
than $1 billion in possessions they said were tied to cash taken.
from the Malaysian fund.
1MDB has stated in the past it is not a celebration to the civil.
fits, does not have any possessions in the United States, nor has it.
gained from the various deals described in the civil.
suits. 1MDB was not offered for comment on Saturday. Goldman Sachs, which made near $600 million to set up.
and underwrite the 1MDB bonds, has actually not been implicated of any.
misdeed by U.S. authorities. These bond offers were set up and financed by Goldman.
Sachs International. The Wall Street Journal, which previously reported the MAS.
inquiry, also stated U.S. authorities had actually issued subpoenas to.
Goldman Sachs for files associated with the bank’s negotiations with.
1MDB. 1MDB, established by Malaysian Prime Minister Najib Razak in.
2009 shortly after he pertained to office, is being examined for.
cash laundering in at least 6 nations consisting of the United.
States, Singapore and Switzerland.
( Reporting by Saeed Azhar; Added reporting by Praveen.
Menon in KUALA LUMPUR; Modifying by Denny Thomas, Christopher.
Cushing and Dale Hudson).