Malaysian authorities widen investigation into Goldman Sachs

Society of Corporate Compliance and Ethics (SCCE)
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Society of Corporate Compliance and Ethics (SCCE)

CEP Magazine (November 2019)

Malaysian Attorney General Tommy Thomas filed criminal charges (https://reut.rs/2kCjbUZ) against an additional 17 employees of Goldman Sachs in connection with the 1Malaysia Development Berhad (1MDB) scandal.

The charges include individuals who “occupied the highest executive positions in those three Goldman Sachs subsidiaries, and exercised or ought to have exercised decision-making authority over the transactions of those corporate bodies,” which, Thomas said, were involved in the “fraudulent misappropriation of billions in bond proceeds.” (http://bit.ly/2jZOhFI)

The scandal has been top news in Malaysia since Malaysian Prime Minister Mahathir Mohamad made the corruption at the heart of the development fund a central theme of his campaign. Since he took office, charges have been filed against multiple Goldman Sachs employees (http://bit.ly/2lUX6kI), the former prime minister Najib Razak and his family, and the alleged ringleader of the money laundering scam, Low Taek Jho, also known as “Jho Low.” The United States and Singapore have also issued indictments (http://bit.ly/2k2q1Tx) against individuals involved in the scandal, and US authorities have also frozen and seized some of Jho Low’s assets.

[View source.]

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