1MDB corruption scandal

  1. Bank pleads not guilty in 1MDB corruption scandal

    David Cameron and Najib Razak
    Image caption: David Cameron and Najib Razak, Malaysia's ex-prime minister

    It is one of the world's greatest financial scandals. Billions of dollars from state fund 1MDB meant to help the Malaysian people went missing, disappearing into the shadows of the global financial system.

    Today three units of Goldman Sachs have pleaded not guilty over its alleged role in the scandal, according to local media.

    Billions were allegedly looted from the Malaysian fund in a globe-spanning fraud, which reportedly involved the country's ex-prime minister Najib Razak (pictured above with a former British prime minister) and his inner circle.

    The bank's role has been under scrutiny as it helped arrange a series of bond issues worth $6.5bn (£5bn) for the investment vehicle 1MDB.

    The units were accused of giving false statements that led to large sums being misappropriated in relation to the bond issues.

    1MDB: The playboys, PMs and partygoers around a global financial scandal

  2. Video content

    Video caption: Najib Razak : Ex-Malaysia PM's second fraud trial begins

    Najib Razak faces charges over an alleged multibillion-dollar fraud involving the state fund 1MDB.

  3. DoJ discussions over 1MDB

    Goldman Sachs

    Senior US Department of Justice (DoJ) officials are considering a requirement that Goldman Sachs plead guilty over its role in the Malaysian 1MDB corruption scandal, as part of a potential settlement, sources have told the FT.

    If this comes to pass, it will be the toughest penalty that the DoJ could impose on the bank.

    Goldman spokesman Jake Siewert told the FT: “We do not believe that such a charge would be warranted by the facts of the case or the law, particularly because senior management was unaware of the criminal activity by [former Goldman Sachs banker] Tim Leissner and his associate who took extraordinary efforts to hide their part in the illegal scheme from management, compliance, and legal functions at the firm.”

  4. Superyacht linked to 1MDB scandal sold for $126m

    Equanimity superyacht

    More on the 1MDB scandal - a superyacht allegedly bought with money stolen from the fund will be sold to $126m (£95.9m).

    The sale of the yacht to casino operator Genting Malaysia marks the country's largest recovery yet of 1MDB cash.

    Equanimity - decked out with a 20m swimming pool, spa and sauna, movie theatre and helipad - has been moored off the coast of Malaysia for the past five months, on show for potential buyers.

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