A Goldman Sachs sign is seen on at the company’s post on the floor of the New York Stock Exchange (Photo: Reuters)
Hanoi (VNA) – Malaysia has filedcriminal charges against 17 current and former directors at subsidiaries of theGoldman Sachs Group of the US in a corruption investigation at the 1MalaysiaDevelopment Berhad (1MDB) fund, the country’s attorney general said on August 9.
In December 2018, Malaysia filed lawsuitsagainst three Goldman Sachs subsidiaries and two executives of the US bank, NgChong Hwa, who is also known as Roger Ng, and Tim Leissner.
The three subsidiaries are Goldman SachsInternational, Goldman Sachs Asia and Goldman Sachs Singapore.
They were accused of embezzling 2.7 billionUSD from the 1MDB fund and wrongdoings related to bond offerings for the fundfrom 2012-2013.
Goldman Sachs has consistently deniedwrongdoing and said certain members of the former Malaysian government and 1MDBlied to Goldman Sachs about the use of transaction proceeds.
Both Roger Ng and Leissner were charged inthe US. Malaysia has extradited Roger Ng to the US to face criminal chargeswhile Leissner has pleaded guilty.
After assuming power, Malaysian PrimeMinister Mahathir Mohamad declared to give priority to addressing corruptionand taking back losses of the 1MDB fund that was established by former PM NajibRazak in 2009.
Najib has been accused of involving in theloss of billions of USD in the bank’s transactions with foreign partners. Hehas pleaded not guilty.
The Malaysian Government set up a specialtask force to investigate the fund with the support from the US, Switzerland,Singapore, Canada, and other related countries.-VNA
In December 2018, Malaysia filed lawsuitsagainst three Goldman Sachs subsidiaries and two executives of the US bank, NgChong Hwa, who is also known as Roger Ng, and Tim Leissner.
The three subsidiaries are Goldman SachsInternational, Goldman Sachs Asia and Goldman Sachs Singapore.
They were accused of embezzling 2.7 billionUSD from the 1MDB fund and wrongdoings related to bond offerings for the fundfrom 2012-2013.
Goldman Sachs has consistently deniedwrongdoing and said certain members of the former Malaysian government and 1MDBlied to Goldman Sachs about the use of transaction proceeds.
Both Roger Ng and Leissner were charged inthe US. Malaysia has extradited Roger Ng to the US to face criminal chargeswhile Leissner has pleaded guilty.
After assuming power, Malaysian PrimeMinister Mahathir Mohamad declared to give priority to addressing corruptionand taking back losses of the 1MDB fund that was established by former PM NajibRazak in 2009.
Najib has been accused of involving in theloss of billions of USD in the bank’s transactions with foreign partners. Hehas pleaded not guilty.
The Malaysian Government set up a specialtask force to investigate the fund with the support from the US, Switzerland,Singapore, Canada, and other related countries.-VNA
VNA
