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#Alibaba Group Holding Ltd. President #MichaelEvans is among 17 current and former #GoldmanSachs directors facing criminal charges over their alleged role in $6.5 billion of bond sales by #1MDB.
bloomberg.com/news/articles/…
#Evans, the international face of #China’s e-commerce leader, and a director at 3 #Goldman units #Malaysia #1MDB.
#Alibaba honcho is a familiar face to the #Chinese internet titan’s investors & to international conference circuit; charged with helming #Alibaba’s global expansion.
#Evans joined #Alibaba in 2015 as 1 of its highest-profile recent hires, has a mandate to help realize billionaire co-founder #JackMa’s ambition to get half its revenue from outside of #China. The president was instrumental in orchestrating the #Chinese giant’s push into #SEAsia
#Evans, like others charged, now faces custodial sentences and criminal fines in a case with global ramifications. Of #8billion that #1MDB raised via bond sales, the U.S. alleges more than #half was #siphonedOff.
Penalties sought reflect “the severity of the scheme to DEFRAUD and FRAUDULENT MISAPPROPRIATION of BILLIONS in bond proceeds, the lengthy period over which the offenses were planned and executed,” as well as the breadth of #Goldman units/officers involved in arranging #1MDB bonds
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