The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site.

All material subject to strictly enforced copyright laws. © 2020 Euromoney, a part of the Euromoney Institutional Investor PLC.
Opinion

Turnbull – no, not that one – enters 1MDB fray

Fact or fiction – a forthcoming book on 1MDB raises new whistleblowing story.

silhouette-secret-780



An interesting name has turned up in the rolling 1MDB saga in Malaysia – as a whistleblower of sorts at Goldman Sachs, the international bank most closely connected to the scandal.

According to a forthcoming book, ‘Billion Dollar Whale, The Man Who Fooled Wall Street, Hollywood and the World,’ about 1MDB, one person who raised concerns internally at Goldman Sachs about the absurd fees the bank was earning from the deal was then disciplined by Goldman’s own compliance department. His name was Alex Turnbull.

Yes, that Turnbull. Alex is the son of Malcom Turnbull, who was until August the Australian prime minister and is a Goldman Sachs alumnus himself.

Complex

Alex left Goldman in 2014 and the story has got around that he was ousted for being a whistleblower. But, like everything else involving 1MDB, it’s not that simple. Alex was not on 1MDB, Goldman claims to have no record of emails he says he sent raising alarms about the 1MDB fees and it appears Alex may actually have left Goldman after compliance officers told him he could no longer trade in Australian media and technology securities, because his dad was then the communications minister.




You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.

SUBSCRIBE ONLINE TODAY

Unlimited access to Euromoney.com and Asiamoney.com

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually

FREE 7 DAY TRIAL

Unlimited access to Euromoney.com and Asiamoney.com, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors

LOGIN NOW

Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree