Malaysia Held Talks With Goldman Over 1MDB Charges: Report

Malaysia held talks with Goldman Sachs about dropping charges against three units of the Wall Street bank that prosecutors brought over the multi-billion-dollar 1MDB scandal, a report said Thursday

Kuala Lumpur, (APP - UrduPoint / Pakistan Point News - 17th Oct, 2019 ):Malaysia held talks with Goldman Sachs about dropping charges against three units of the Wall Street bank that prosecutors brought over the multi-billion-dollar 1MDB scandal, a report said Thursday.

Huge sums were stolen from Malaysian state fund 1MDB in a fraud allegedly involving former leader Najib Razak and his cronies, and spent on everything from high-end real estate to a luxury super-yacht.

Goldman's role has been under scrutiny as it helped arrange bond issues worth $6.

5 billion for 1MDB, with Malaysia claiming large amounts were misappropriated in the process.

Last year, Malaysia filed charges against the units of the bank and two ex-employees over the scandal. In August, charges were filed against 17 current and former executives of three Goldman subsidiaries.

The Wall Street Titan says it will fight the charges, and that formermembers of the Malaysian government and 1MDB lied to the bank.