Business

Malaysia files charges against Goldman Sachs over 1MDB scandal

Posted December 17, 2018 3:51 a.m. EST

— Malaysia has filed criminal charges against Goldman Sachs over its dealings with scandal-hit investment fund 1MDB.

The US investment bank and two of its former employees are accused of breaking Malaysia's securities laws, Malaysian Attorney General Tommy Thomas said in a statement Monday.

The case relates to $2.7 billion that was allegedly misappropriated from 1MDB bond sales, Thomas added.

A Goldman Sachs (GS) spokesman said in a separate statement that the bank would "vigorously defend" itself against the charges.

This is a developing story.