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Malaysia filed criminal charges on Friday against 17 current and former directors at subsidiaries of Goldman Sachs Group following an investigation into a multi-billion-dollar corruption scandal that led to the demise of state fund 1MDB.
The US bank has been under scrutiny for its role in helping to raise $6.5 billion through bond offerings for 1Malaysia Development Bhd (1MDB), the subject of corruption and money laundering investigations in at least six countries.
But Malaysian prosecutors have said $2.7 billion of the proceeds were diverted and the offering statements filed with the regulators contained statements that were false, misleading, or involved material omissions.
Friday’s charges were brought under a section of the Malaysian Capital Markets and Services Act that holds certain senior executives responsible for offences that may have been committed by the firm, said Attorney General Tommy Thomas.
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