Goldman Sachs, having raised three large bond offerings for 1Malaysia Development Berhad. the country's sovereign wealth fund, is now facing the prosecution of 17 current and former employees, who were directors of three Goldman's subsidiaries at the time.
The bank bagged $600m in fees. The scandal also hit Malaysia's former Prime Minister Najib Razak who has been hit with corruption charges. Mubadala Investment Company has suspended dealings with Goldman as a result of the investigations.
1MDB is now insolvent. It started out as a fund to spur development in Malaysia's Terengganu State, whose main economic centre is Kuala Terengganu.
The bank bagged $600m in fees. The scandal also hit Malaysia's former Prime Minister Najib Razak who has been hit with corruption charges. Mubadala Investment Company has suspended dealings with Goldman as a result of the investigations.
1MDB is now insolvent. It started out as a fund to spur development in Malaysia's Terengganu State, whose main economic centre is Kuala Terengganu.
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