Goldman Sachs hit by additional criminal charges
- 1 month ago
Goldman Sachs has been hit by criminal charges brought by the Malaysian Government in connection with the 1MDB scandal.
Other charges were also brought against former Goldman partner Tim Leisnner and Goldman former banker Roger Ng.
The charge file sheet aims at primarily Goldman Sachs International (UK), whom arranged the sale of the bonds, additionally Goldman Sachs Pte of Singapore and Goldman Sachs Asia LLC were also charged with omitting information and producing false statements in relation to the bonds.
The UK division is reported to have earned about $600 million in fees, a figure some have claimed to be rather extravagant.
Nevertheless, prosecutors have once more brought more charges onto fugitive Low Taek Jho and Jasmine Loo Ai Swan, while former PM Najib has also been indicted on allegations linked to the bond scandal.
According to the charge sheets the penalties of each offence listed is a fine of RM1 million along with imprisonment of up to 10 years.
Source: Smart Trend Team