By Associated Press
August 9, 2019

(KUALA LUMPUR, Malaysia) — Malaysia has filed criminal charges against 17 current and former directors at three Goldman Sachs subsidiaries for their role in the alleged multibillion-dollar ransacking of state investment fund 1MDB.

Malaysian and U.S. prosecutors allege that bond sales organized by Goldman Sachs for 1MDB provided one of the means for associates of former Malaysian leader Najib Razak to steal billions over several years from a fund that was ostensibly set up to accelerate Malaysia’s economic development.

The government in December filed criminal charges against Goldman Sachs and two former executives for breaches of securities laws including making false, misleading statements to investors.

Attorney General Tommy Thomas said Friday the 17 people holding senior posts were charged under the Malaysian Capital Markets and Services Act for conniving to commit the massive fraud.

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