Malaysia files charges against Goldman Sachs

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Malaysia files charges against Goldman SachsMalaysian prosecutors have filed criminal charges against Goldman Sachs and two of its bankers for their role in the alleged embezzling of billions of dollars from the country’s scandal-wracked state investment fund, 1Malaysia Development Berhad or 1MDB.

The Malaysian attorney general’s office is seeking fines worth more than $3 billion from Goldman subsidiaries and its former bankers, accused of helping “dishonestly misappropriate” $2.7 billion from bonds issued by 1MDB in 2012 and 2013.

The charges brought by Malaysia on December 18 are the first time that Goldman has been directly targeted by prosecutors for its alleged role in the widening scandal. Kuala Lumpur’s move intensifies the scrutiny over the conduct of the investment bank after the US department of justice last month indicted the two former bankers on similar charges

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Malaysian prosecutors have filed criminal charges against Goldman Sachs and two of its bankers for their role in the alleged embezzling of billions of dollars from the country’s scandal-wracked state investment fund, 1Malaysia Development Berhad or 1MDB. The Malaysian attorney general’s office is seeking fines worth more than $3 billion from Goldman subsidiaries and its former bankers, accused of helping “dishonestly misappropriate” $2.7 billion from bonds issued by 1MDB in 2012 and 2013. The charges brought by Malaysia on December 18 are the first time that Goldman has been directly targeted by prosecutors for its alleged role in the widening...

Reading Time: 1 minute

Malaysia files charges against Goldman SachsMalaysian prosecutors have filed criminal charges against Goldman Sachs and two of its bankers for their role in the alleged embezzling of billions of dollars from the country’s scandal-wracked state investment fund, 1Malaysia Development Berhad or 1MDB.

The Malaysian attorney general’s office is seeking fines worth more than $3 billion from Goldman subsidiaries and its former bankers, accused of helping “dishonestly misappropriate” $2.7 billion from bonds issued by 1MDB in 2012 and 2013.

The charges brought by Malaysia on December 18 are the first time that Goldman has been directly targeted by prosecutors for its alleged role in the widening scandal. Kuala Lumpur’s move intensifies the scrutiny over the conduct of the investment bank after the US department of justice last month indicted the two former bankers on similar charges

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