US calling for Goldman Sachs guilty plea in 1MDB scandal, report claims | Malay Mail

25 April 2019

NEW YORK, April 25 — The US Justice Department is calling for Goldman Sachs to plead guilty for its role in the massive corruption scandal involving Malaysian investment fund 1MDB,That recommendation applies to any settlement between Goldman Sachs and US or state authorities, newspaper reported, citing unnamed sources.

According to a source close to the investigation, the hardline recommendations by investigators is not surprising, but the final settlement is likely to be less onerous. US authorities have accused a Malaysian financial intermediary, Low Taek Jho, former Goldman partner Tim Leissner and former Goldman banker, Ng Chong Hwa, of conspiring to launder billions of dollars from 1 Malaysia Development Berhad, a fund set up to finance development projects.

Source: News Formal (newsformal.com)

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