Goldman Sachs Faces Charges In Malaysia Over Massive Corruption Scandal
Source: NPR
The U.S. bank Goldman Sachs is facing criminal charges in Malaysia in connection with a massive corruption scheme known as the 1MDB scandal.
That scandal — involving billions of dollars allegedly siphoned from the "1MDB" development fund — has already brought down Malaysia's former prime minister. Several of the fund's top administrators in Malaysia have been charged with corruption in both U.S. and Malaysian courts. They deny the allegations.
Now, for the first time, Goldman Sachs, which helped the fund's administrators raise some $6.5 billion, faces charges in connection to the probe. Malaysian authorities are seeking billions of dollars in fines, and up to 10 years prison time for each of the four people charged.
Read more: https://www.npr.org/2018/12/17/677360033/goldman-sachs-faces-charges-in-malaysia-over-massive-corruption-scandal
Banksters!