After many months of investigation about the 1MDB scandal in Malaysia, Tommy Thomas, the country’s attorney general has finally filed criminal charges against Goldman Sachs and in today’s crypto news we find out more about it.
The attorney general of Malaysia has filed criminal charges to three other subsidiaries of Goldman Sachs International such as former partner Tim Leissner, Jho Low and former 1MDB counsel Jasmine Loo.
The Malaysian authorities released a statement that confirms the prosecution for publishing false statements and omitting material information. Tommy Thomas noted that the offenses were related to documents for international bond sale by the 1MDB where approximately $6.5 billion worth of bonds were arranged by Goldman Sachs and $2.7 was embezzled.
1MDB was the focus in an international investigation led by the Justice Department of the United States. Goldman Sachs on the other hand, led by former executive Roger Ng who is now fighting extradition to the US is also facing charges by the Justice Department.
A piece of the statement says:
Malaysia considers the allegations in the charges against the accused to be grave violations of our securities laws, and to reflect their severity, prosecutors will seek criminal fines against the accused well in excess of the $2.7 billion misappropriated from the bonds proceeds and $600 million in fees received by Goldman Sachs, and custodial sentences against each of the individual accused: the maximum term of imprisonment is 10 years.
Leissner has already pleaded guilty for embezzling public money and bribing public officials. Low and Loo are charged in absentia with money laundering.
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