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Alibaba president Michael Evans facing criminal charges for involvement in 1MDB scandal

Michael Evans, the president of Alibaba, is facing charges for his involvement in the IMDB scandal, stemming from his time at Goldman Sachs.

Evans was a director at Goldman Sachs when 1MDB, the Malaysian state-owned investment fund misused the $8bn in its coffers to allegedly help former Malaysian prime minister Najib Razak with his deal-making, election spending and political activities.

Three Goldman units in Malaysia have been accused of misleading investors when arranging deals for 1MDB. This has led to Evans, as well as 17 current and former Goldman directors facing criminal charges for their involvement.

Evans joined Alibaba in 2015 to push the e-commerce giant's growth outside of China, like in South East Asia through the acquiring Lazada and its expansion into the US.

“Mike Evans was a member of senior management at Goldman Sachs prior to joining Alibaba Group in 2015,” the Chinese company said in a statement to Bloomberg.

“We are aware of the news and will continue to monitor the situation.”

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