# Professor Roy Smith is quoted in a story on the criminal charges against Goldman Sachs in connection with a state investment fund in Malaysia

1 Faculty News December 23, 2018 ![Financial Times logo](/sites/default/files/styles/246w/public/assets/images/uat_025699.jpg?itok=5SpaxEbn)>

Excerpt from [Financial Times](https://www.ft.com/content/52a072a2-fe0a-11e8-ac00-57a2a826423e?FTCamp=engage/CAPI/webapp/Channel_Moreover//B2B)-- "Roy Smith, a former partner and now a professor at New York University, says the fraud at 1Malaysia Development Berhad, or 1MDB, ranks among the biggest crises the bank has faced. 'It could conceivably have a much larger price tag on it \[than other scandals\] because these things escalate over time,' he says."

[Read more](https://www.ft.com/content/52a072a2-fe0a-11e8-ac00-57a2a826423e?FTCamp=engage/CAPI/webapp/Channel_Moreover//B2B)