Budapest Post

Cum Deo pro Patria et Libertate
Budapest, Europe and world news

Alibaba President Among Those Malaysia Charged in 1MDB Deal

Alibaba President Among Those Malaysia Charged in 1MDB Deal

Mike Evans is one of 17 facing criminal charges in scandal. Evans is the international face of China’s e-commerce leader.

Alibaba Group Holding Ltd. President Michael Evans is among 17 current and former Goldman Sachs directors facing criminal charges over their alleged role in $6.5 billion of bond sales by 1MDB.

Evans, the international face of China’s e-commerce leader, was among a group of individuals who served as directors at three Goldman units Malaysia accused of misleading investors when arranging deals for 1MDB. The Alibaba honcho is a familiar face to the Chinese internet titan’s investors and a fixture in the media as well as international conference circuit, and is charged with helping helm Alibaba’s global expansion.
Key Speakers At The International Economic Forum Of The Americas Conference Of Montreal

Evans, who joined Alibaba in 2015 as one of its highest-profile recent hires, has a mandate to help realize billionaire co-founder Jack Ma’s ambition to get half its revenue from outside of China. The president was instrumental in orchestrating the Chinese giant’s push into Southeast Asia through the acquisition of a stake in Lazada, establishing its largest overseas beach-head. The company is expanding into Malaysia and counts the country in particular as a key partner for its so-called E-WTP or electronic world trading initiative. Evans is also overseeing Alibaba.com’s expansion in the U.S. and Ma’s promise to President Donald Trump to create a million jobs.

The executive, like others charged, now faces custodial sentences and criminal fines in a case with global ramifications. Supposed to promote development, Malaysian state-owned investment fund 1MDB has spurred criminal and regulatory investigations around the world that cast an unflattering spotlight on deal-making, election spending and political patronage under former Malaysian Prime Minister Najib Razak. Of $8 billion that 1MDB raised via bond sales, the U.S. alleges more than half was siphoned off.

“Mike Evans was a member of senior management at Goldman Sachs prior to joining Alibaba Group in 2015,” the Chinese company said in a texted statement. “We are aware of the news and will continue to monitor the situation.”

AI Disclaimer: An advanced artificial intelligence (AI) system generated the content of this page on its own. This innovative technology conducts extensive research from a variety of reliable sources, performs rigorous fact-checking and verification, cleans up and balances biased or manipulated content, and presents a minimal factual summary that is just enough yet essential for you to function as an informed and educated citizen. Please keep in mind, however, that this system is an evolving technology, and as a result, the article may contain accidental inaccuracies or errors. We urge you to help us improve our site by reporting any inaccuracies you find using the "Contact Us" link at the bottom of this page. Your helpful feedback helps us improve our system and deliver more precise content. When you find an article of interest here, please look for the full and extensive coverage of this topic in traditional news sources, as they are written by professional journalists that we try to support, not replace. We appreciate your understanding and assistance.
Newsletter

Related Articles

0:00
0:00
Close
Emails Leaked: How Passenger Luggage Became a Side Income for Airport Workers
Polish MEP: “Dear Leftists - China is laughing at you, Russia is laughing, India is laughing”
Western Europe Records Hottest June on Record
BRICS Expands Membership with Indonesia and Ten New Partner Countries
Elon Musk Founds a Party Following a Poll on X: "You Wanted It – You Got It!"
China’s Central Bank Consults European Peers on Low-Rate Strategies
France Requests Airlines to Cut Flights at Paris Airports Amid Planned Air Traffic Controller Strike
Poland Implements Border Checks Amid Growing Migration Tensions
Emirates Airline Expands Market Share with New $20 Million Campaign
Amazon Reaches Milestone with Deployment of One Millionth Robot
Yulia Putintseva Calls for Spectator Ejection at Wimbledon Over Safety Concerns
House Oversight Committee Subpoenas Former Jill Biden Aide Amid Investigation into Alleged Concealment of President Biden's Cognitive Health
Amazon Reaches Major Automation Milestone with Over One Million Robots
Extreme Heat Wave Sweeps Across Europe, Hitting Record Temperatures
Meta Announces Formation of Ambitious AI Unit, Meta Superintelligence Labs
Robots Compete in Football Tournament in China Amid Injuries
China Unveils Miniature Insect-Like Surveillance Drone
Marc Marquez Claims Victory at Dutch Grand Prix Amidst Family Misfortune
Germany Votes to Suspend Family Reunification for Asylum Seekers
Budapest Pride Parade Draws 200,000 Participants Amid Government Ban
Southern Europe Experiences Extreme Heat
Xiaomi's YU7 SUV Launch Garners Record Pre-Orders Amid Market Challenges
Jeff Bezos and Lauren Sanchez's Lavish Wedding in Venice
Russia Launches Largest Air Assault on Ukraine Since Invasion
Massive Anti-Government Protests Erupt in Belgrade
Iran Executes Alleged Israeli Spies and Arrests Hundreds Amid Post-War Crackdown
Hungary's Prime Minister Criticizes NATO's Role in Ukraine
EU TO HUNGARY: LET THEM PRIDE OR PREP FOR SHADE. ORBÁN TO EU: STAY IN YOUR LANE AND FIX YOUR OWN MESS.
Hungarian Scientist to Conduct 30 Research Experiments on the International Space Station
NATO Members Agree to 5% Defense Spending Target by 2035
NATO Leaders Endorse Plan for Increased Defence Spending
U.S. Crude Oil Prices Drop Below $65 Amid Market Volatility
International Astronaut Team Launched to Space Station
Macron and Merz: Europe must arm itself in an unstable world
Germany and Italy Under Pressure to Repatriate $245bn of Gold from US Vaults
Iran Intensifies Crackdown on Alleged Mossad Operatives After Sabotage Claims
Trump Praises Iran’s ‘Very Weak’ Response After U.S. Strikes and Presses Israel to Pursue Peace
Oil Prices Set to Surge After US Strikes Iran
BA and Singapore Airlines Cancel Dubai Flights Amid Middle East Tensions
Trump Faces Backlash from MAGA Base Over Iran Strikes
Meta Bets $14 B on Alexandr Wang to Drive AI Ambitions
FedEx Founder Fred Smith, ‘Heart and Soul’ of the Company, Dies at 80
Chinese Factories Shift Away from U.S. Amid Trump‑Era Tariffs
Pimco Seizes Opportunity in Japan’s Dislocated Bond Market
Labubu Doll Drives Pop Mart to Status as China’s Most Valuable Toy Maker
Global Coal Demand Defies Paris Accord Goals
United States Conducts Precision Strikes on Iran’s Nuclear Sites
US strikes Iran nuclear sites, Trump says
Telegram Founder: I Will Leave My Fortune to Over 100 of My Children
16 Billion Login Credentials Leaked in Unprecedented Cybersecurity Breach
×