New York (CNN Business) Goldman Sachs' new CEO is apologizing for the role of a former banker in Malaysia's multi-billion dollar embezzlement scandal.

"It is very clear that the people of Malaysia were defrauded by many individuals, including the highest members of the prior government," David Solomon said Wednesday on the company's earnings call.

Tim Leissner, the company's former chairman of Southeast Asia, has admitted to being "one of those people," he continued. "For Leissner's role in that fraud, we apologize to the Malaysian people."

Solomon's remarks come amid a crisis for the bank, which faces lawsuits and investigations tied to its job in raising money for Malaysia's sovereign wealth fund, 1Malaysia Development Berhad.

The saga hung over an otherwise solid earnings report that boosted shares up 8% in Wednesday trading.

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