Malaysia charges Goldman over 1MDB

International Desk: Malaysia has filed criminal charges against Goldman Sachs and two former employees in connection with a corruption and money laundering probe at the country's investment fund, 1MDB.

The US bank has been under scrutiny for its role in helping to raise funds for the 1Malaysia Development Bhd (1MDB).

It is being investigated in at least six countries.

Goldman Sachs called the charges "misdirected" and said it would "vigorously defend them".

"The firm continues to co-operate with all authorities investigating these matters," the bank added.

Malaysia filed the charges against Goldman Sachs and its former bankers Tim Leissner and Roger Ng.

Mr Leissner served as Goldman's South East Asia chairman, and left the bank in 2016. Mr Ng was a managing director at Goldman until his departure in May 2014.

Malaysia also filed charges against local financier Low Taek Jho, also known as Jho Low who maintains his innocence, and former 1MDB employee Jasmine Loo Ai Swan.

Last month, Mr Leissner, Mr Ng and Mr Low were served with criminal charges in the US in relation to 1MDB.

Mr Leissner pleaded guilty in the US to conspiring to launder money and violating anti-bribery laws.

US prosecutors said Mr Leissner and Mr Ng worked with Mr Low to bribe government officials to win 1MDB business for Goldman Sachs.

Authorities in the US said billions of dollars were embezzled from the state fund - which was set up by the Prime Minister Najib Razak in 2009 - and were used to buy a list of expensive properties, and even finance the Wolf of Wall Street movie.

Agencies


risingbd/Dhaka/Dec 18, 2018/Nasim