The US investment bank Goldman Sachs has withdrawn a large part of its annual salary from its CEO David Solomon because of the corruption scandal surrounding the Malaysian sovereign wealth fund 1MDB. The top manager will lose $ 10 million (8.2 million euros) in his remuneration for 2020, as it emerged on Wednesday night from a mandatory notification to the US Securities and Exchange Commission.
However, Solomon will not gnaw on starvation, with 17.5 million dollars his annual salary package is still quite generous. Goldman Sachs had already announced that it would reclaim millions of dollars from current and former executives who were responsible for the involvement in the scandal.
The 1MDB fund was set up in 2009 to promote Malaysia's economy, but ex-government members and dubious advisors are said to have embezzled the majority of the funds – allegedly with the help of former Goldman employees. The bank therefore accepted a fine of $ 2.9 billion in a settlement in October.
