Malaysia drops criminal charges against Goldman Sachs over 1MDB bond sales



Malaysian prosecutors on Friday withdrew criminal charges against three Goldman Sachs units accused of misleading investors over $6.5 billion in bond sales they helped organize for a state fund, local media reported.

The units, based in London, Hong Kong and Singapore, had pleaded not guilty in February. The bank has repeatedly denied wrongdoing.

Earlier, Goldman Sachs agreed to pay $3.9 billion to Malaysia to settle a probe into its alleged role in a scandal involving the 1MDB state investment fund, which counts former Malaysian prime minister Najib Razak as one of its co-founders.

In July, Razak was found guilty of corruption and sentenced to 12 years in jail over the multibillion-dollar looting of 1MDB. He has insisted that he was misled by rogue bankers and that the case against him is political.


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