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Malaysia in transition

Malaysia charges Goldman Sachs and individuals over 1MDB fraud

'Former government and 1MDB lied' says the bank

Goldman Sachs faces charges related to the sale of bonds by Malaysian state fund 1MDB.   © Reuters

KUALA LUMPUR -- Malaysian prosecutors on Monday filed criminal charges against investment bank Goldman Sachs and four individuals involved in the issuance of $6.5 billion in bonds by state fund 1Malaysia Development Berhad, as attempts are made to retrieve some $3.3 billion that was allegedly swindled.

The Attorney General's Chamber named Goldman Sachs International, the lender's U.K. incorporated unit which acted as the arranger and underwriter of three bond sales between 2012 and 2013, for offenses under Malaysia's Capital Markets and Services Act 2007. 

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