Illustrative image (Source: VNA) Kuala Lumpur (VNA) - Malaysia said on December 17 that the countryhas filed criminal charges against Goldman Sachs and two of the US bank'sformer employees in connection with a corruption and money laundering probe atstate fund 1MDB.
Goldman Sachs has been under scrutiny for its role in helping raise fundsthrough bond offerings for 1Malaysia Development Bhd (1MDB), which is thesubject of investigations in several countries.
Malaysia's Attorney General Tommy Thomas said criminal charges under thecountry's securities laws were filed on December 17 against Goldman Sachs, itsformer bankers Tim Leissner and Roger Ng, former 1MDB employee Jasmine Loo andfinancier Low Taek Jho in connection with the bond offerings.
According to Attorney General Thomas, the charges arise from the commission andabetment of false or misleading statements by all the accused in order todishonestly misappropriate 2.7 billion USD from the proceeds of three bondsissued by the subsidiaries of 1MDB, which were arranged and underwritten byGoldman Sachs.
Earlier on November 13, Prime Minister Mahathir Mohamad accused Goldman Sachsof “cheating" Malaysia in dealings with the state fund 1MDB.
After assuming power, PM Mahathir declared to give priority to addressing corruption and taking back losses of the 1MDB fund that was established by former PM Najib Razak in 2009.
Najib has been accused of involving in the loss of billions of USD in the bank’s transactions with foreign partners. He has pleaded not guilty.
The Malaysian Government set up a special task force to investigate the fundwith the support from the US, Switzerland, Singapore, Canada, and other relatedcountries. -VNA
Goldman Sachs has been under scrutiny for its role in helping raise fundsthrough bond offerings for 1Malaysia Development Bhd (1MDB), which is thesubject of investigations in several countries.
Malaysia's Attorney General Tommy Thomas said criminal charges under thecountry's securities laws were filed on December 17 against Goldman Sachs, itsformer bankers Tim Leissner and Roger Ng, former 1MDB employee Jasmine Loo andfinancier Low Taek Jho in connection with the bond offerings.
According to Attorney General Thomas, the charges arise from the commission andabetment of false or misleading statements by all the accused in order todishonestly misappropriate 2.7 billion USD from the proceeds of three bondsissued by the subsidiaries of 1MDB, which were arranged and underwritten byGoldman Sachs.
Earlier on November 13, Prime Minister Mahathir Mohamad accused Goldman Sachsof “cheating" Malaysia in dealings with the state fund 1MDB.
After assuming power, PM Mahathir declared to give priority to addressing corruption and taking back losses of the 1MDB fund that was established by former PM Najib Razak in 2009.
Najib has been accused of involving in the loss of billions of USD in the bank’s transactions with foreign partners. He has pleaded not guilty.
The Malaysian Government set up a special task force to investigate the fundwith the support from the US, Switzerland, Singapore, Canada, and other relatedcountries. -VNA
VNA
