Malaysia charges 17 Goldman Sachs figures over 1MDB scandal

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August 9 2019

Malaysia’s current government has also filed criminal charges against Goldman Sachs and is seeking $7.5 billion in compensation from the bank.

Malaysia filed criminal charges on Friday against 17 more current and former directors at three Goldman Sachs subsidiaries for their role in the alleged multibillion-dollar ransacking of state investment fund 1MDB.

Malaysian and U.S. prosecutors allege that bond sales organized by Goldman Sachs for 1MDB provided one of the means for associates of former Malaysian leader Najib Razak to steal billions over several years from a fund that was ostensibly set up to accelerate Malaysia’s economic development.