Wednesday, October 21, 2020

Malaysia files charges against 17 current, former directors of Goldman Sachs units

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KUALA LUMPUR, (Reuters) – Malaysia filed criminal charges against 17 current and former directors at subsidiaries of Goldman Sachs Group Inc over the multi-billion dollar corruption probe at state fund 1MDB, the attorney general said on Friday.

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

“Custodial sentences and criminal fines will be sought against the accused … given the severity of the scheme to defraud and fraudulent misappropriation of billions in bond proceeds,” Malaysia’s Attorney General Tommy Thomas said in a statement on Friday.

Thomas said individuals who have been charged include Richard Gnodde, CEO of Goldman Sachs International, and Michael Sherwood, former vice chairman of Goldman Sachs Group Inc and co-chief executive officer of Goldman Sachs international.

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