Goldman Sachs bankers paid for prostitutes, private jets and five-star hotels and held business meetings on yachts to win business from a Libyan investment fund set up under Gaddafi regime, the high court in London was told yesterday. The LIA, Masefield told the court, felt betrayed as the trades generated excessive profits for Goldman and were unsuitable for the LIA, which was staffed by individuals who had not been appointed on merit.
Masefield said it was a nascent sovereign wealth fund with limited abilities to understand the so-called jumbo and elephant trades.
Goldman is disputing the claim, which was filed in , and its lawyers will address the court on Tuesday. But in documents outlining its defence the bank said that the proceedings were not brought until after the trades had matured. It is important you stay super close to clients on a daily basis.
Teach them, train them, dine them. Mr Kabbaj also took him to Dubai for a conference, with the business class flights and five-star accommodation being paid by Goldman Sachs. Documents disclosed by Goldman Sachs show that during that drip Mr Kabbaj went so far as to arrange for a pair of prostitutes to entertain them both one evening. Ben-Brahim wrote after the meeting that he was nervous about the relationship and wanted clearance from a more senior banker.
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