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Companies

1MDB probe shifts focus to extent of Goldman's role

Authorities question if scandal points to companywide corruption

Goldman Sachs is under fire for the role its former executives allegedly played in the embezzlement of funds at 1Malaysia Development Berhad.   © Reuters

TOKYO -- The corruption scandal ensnaring Malaysia's government-owned 1Malaysia Development Berhad fund has taken a new turn, raising questions about internal controls at Goldman Sachs Group.

Former executives of the U.S. financial giant have been charged with circumventing internal controls, and a former Southeast Asia chairman has pleaded guilty to conspiring to launder money and to violate the Foreign Corrupt Practices Act. A sovereign wealth fund in Abu Dhabi is suing Goldman for damages.

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