General Goldman Sachs' top international banker among 17 charged over 1MDB scandal

tom_mai78101

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Hong Kong (CNN Business)Malaysia filed criminal charges against 17 current and former Goldman Sachs employees on Friday, including the bank's top international executive. It's the latest fallout from the 1MDB scandal.

Malaysia's attorney general said the accused were directors of three Goldman Sachs subsidiaries during the time that the bank arranged three large bond offerings for 1Malaysia Development Berhad, the country's sovereign wealth fund.

The bank called the charges "misdirected" and said they will be "vigorously defended." Among those charged Friday is Richard Gnodde, the CEO of Goldman Sachs International.

The US Justice Department has claimed that $4.5 billion was stolen from 1MDB by senior officials and pumped into New York condos, hotels, yachts and a jet, and used to fund movies such as "The Wolf of Wall Street."

Malaysia has accused Goldman Sachs and some of its bankers of misleading investors about the bond sales and fraudulently diverting $2.7 billion of the proceeds.

Malaysia's former Prime Minister Najib Razak was also hit with dozens of corruption-related charges in the case. His trial is ongoing, and he has pleaded not guilty.


Read more here. (CNN)
 
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