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Malaysia charges 17 Goldman Sachs execs over 1MDB scandal

US attorney general says custodial sentences and fines will be sought for the directors of three subsidiaries of the Wall Street bank

Malaysia charges 17 Goldman Sachs execs over 1MDB scandal
Photo: Getty Images

Malaysia filed criminal charges against 17 current and former Goldman Sachs directors over their handling of the sprawling, multibillion-dollar financial scandal at the country’s state fund 1Malaysia Development Bhd.

Attorney General Tommy Thomas said on August 9 that custodial sentences and fines would be sought for the directors, who worked for three Goldman Sachs subsidiaries — Goldman Sachs International, Goldman Sachs (Asia) LLC, and Goldman Sachs (Singapore) Pte — in relation to bond sales the US bank arranged for 1MDB in 2012 and 2013. The accusations relate to the individuals’ participation in the deals as arrangers, structure agents, underwriters and sellers.

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