Malaysia charges Goldman as pressure mounts over 1MDB scandal

Malaysia charges Goldman as pressure mounts over 1MDB scandalMalaysia filed criminal charges Monday against Goldman Sachs and two of its former employees over the alleged theft of billions of dollars, heaping fresh pressure on the Wall Street titan over the 1MDB scandal. Goldman subsidiaries and ex-bankers Tim Leissner and Ng Chong Hwa are accused of misappropriating $ 2.7 billion, bribing officials and giving false statements in relation to bond issues they arranged for state fund 1MDB. Allegations that huge sums were looted from the investment vehicle and used to buy everything from yachts to artwork, in a fraud that involved former Malaysian leader Najib Razak, contributed to the last government’s shock defeat at May elections.



Yahoo News – Latest News & Headlines