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POST TIME: 18 December, 2018 00:00 00 AM
Malaysia files charges against Goldman over 1MDB scandal
AFP, Kuala Lumpur

Malaysia files charges against Goldman over 1MDB scandal

Malaysia yesterday filed criminal charges against Wall Street titan Goldman Sachs and two of its former employees over the scandal surrounding state fund 1MDB, authorities said.

Charges were filed against subsidiaries of Goldman Sachs and former employees Tim Leissner and Ng Chong Hwa, said a statement from Malaysia’s attorney-general Tommy Thomas.

Low Taek Jho, a Malaysian financier who allegedly masterminded the theft of billions of dollars from the sovereign wealth fund that was used to buy everything from yachts to artwork, was also hit with new charges over the scandal.

Allegations that huge sums were looted from the fund in an audacious fraud that involved former Malaysian leader Najib Razak and his cronies played a huge role in the last government’s defeat at elections in May.