1MDB: Malaysia files charges against 17 current and ex-Goldman Sachs bosses

[nitpicker]

https://www.theguardian.com/world/2019/aug/09/1mdb-malaysia-files-charges-against-17-current-and-ex-goldman-sachs-bosses

1MDB: Malaysia files charges against 17 current and ex-Goldman Sachs bosses

Reuters

Fri 9 Aug 2019 09.01 BST

Malaysia has filed criminal charges against 17 current and former directors at subsidiaries of Goldman Sachs Group in a multibillion-dollar corruption investigation at state fund 1MDB, the attorney general said on Friday.

Goldman Sachs has been under scrutiny for its role in helping to raise $6.5bn through bond offerings for 1Malaysia Development Bhd (1MDB), the subject of corruption and money-laundering investigations in at least six countries.

Friday’s charges were brought under a section of the Malaysian Capital Markets and Services Act that holds certain senior executives responsible for any offences that may have been committed, the attorney general, Tommy Thomas, said.
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The individuals charged include Richard Gnodde, the chief executive of Goldman Sachs International, and Michael Sherwood, who was formerly the vice-chairman of Goldman Sachs Group Inc and co-chief executive officer of Goldman Sachs international, Thomas added.

The US investment bank has consistently denied any wrongdoing and said certain members of the former Malaysian government and 1MDB lied to Goldman Sachs, outside counsel and others about the use of transaction proceeds.

Last year Malaysia filed criminal charges against Goldman Sachs and two of its former employees in connection with 1MDB. The US Department of Justice is investigating the bank for its role as underwriter and arranger of the bond offer.
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An estimated $4.5bn was misappropriated from 1MDB by fund officials and their associates between 2009 and 2014, the US Justice Department has said.
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