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Malaysia files charges against directors of Goldman Sachs units over 1MDB scam

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Malaysia files charges against directors of Goldman Sachs units over 1MDB scam

The Malaysian government on Aug. 9 filed criminal charges against 17 current and former directors of three Goldman Sachs Group Inc. units over their alleged links to the 1Malaysia Development Bhd. state fund scam.

Among those charged are Goldman Sachs International CEO and director Richard Gnodde, and Goldman Sachs Group former partner John Michael Evans, who is now president of Alibaba Group Holding Ltd.

Gnodde, Evans and the rest of those charged were directors of three Goldman Sachs units accused of misleading investors and the Malaysian government when the bankers arranged $6.5 billion in bond sales for 1MDB in 2012 and 2013.

The three units, which the Malaysian government previously charged in December 2018, were Goldman Sachs International, Goldman Sachs (Asia) LLC and Goldman Sachs (Singapore) Pte.

Custodial sentences and criminal fines will be sought against those accused, given the severity of the fraud, said Malaysian Attorney General Tommy Thomas, who initiated the lawsuit.