Youssef Kabbaj became one of firm’s best salesmen as a result of 2008 trades disputed by Libyan Investment Authority
A former Goldman Sachs banker gave iPods to members of the Libyan Investment Authority (LIA) as well as paying for prostitutes, and was one of the Wall Street firm’s top global salesmen in 2008 as a result of its business with the investment fund, the high court in London has heard.
The LIA is suing Goldman for $1.2bn of losses on nine trades that the US bank executed on its behalf between January and April 2008. The fund was set up in 2006 by the late Libyan dictator, Muammar Gaddafi, to manage the country’s oil wealth.
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