Goldman Sacjhs Logo (Photo: ANI)
Goldman Sacjhs Logo (Photo: ANI)

1MDB: Malaysia files criminal charges against Goldman Sachs

ANI | Updated: Dec 17, 2018 20:17 IST

Washington D.C. [USA], Dec 17 (ANI): In an interesting turn of events in the 1Malaysia Development Berhad (1MDB) case, Malaysia has now filed criminal charges against the United States-based investment bank Goldman Sachs over its dealings with a state investment fund.
According to CNN, the charges involve the bond sales arranged and underwritten by the investment bank for 1MDB in 2012 and 2013.
Attorney General Tommy Thomas on Monday revealed that the US investment bank and four individuals including two former Goldman employees are accused of "grave violations" of Malaysia's securities laws.
On December 12, former Malaysian Prime Minister Najib Razak was charged for tampering with the 1MDB strategic development company's final audit report, in addition to corruption charges that Najib pleaded not guilty to.
Najib was arrested by the Malaysian Anti-Corruption Commission (MACC) over the alleged tampering with the 1MDB audit report and was released on bail on the same day. Najib was charged along with Arul Kanda Kandasamy, the former president and chief executive of 1MDB.
In July, Najib was charged with corruption-related offences, including three counts of criminal breach of trust, over his alleged involvement in the 1MBD corruption scandal. He pleaded not guilty to all charges.
The United States Department of Justice had reported that around USD 4.5 billion was embezzled from the 1MDB funds by high-ranking Malaysian officials. (ANI)