The Department of Justice has charged two former Goldman Sachs bankers and a Malaysian lender with the financial scandal 1MDB, which resulted in the misuse of billions of dollars in Malaysian government funds.
In the indictment that unsealed a federal court on Thursday, prosecutors accuse former Goldman Sachs banker Ng Chong Hwa and financier Low Taek Jho – known as "Jho Low" – of plotting money from 1Malaysia Development Berba – known as 1MDB – Malaysia's Investment Development Fund and conspiracy against the Foreign Corrupt Practices Act.
The Department of Justice also says that another former Goldman Sachs banker, Tim Leissner, has pled guilty to conspiring to launder money and violate anti-bribery laws. A lawyer from Leissner was unavailable for comment when NPR called.
According to news reports, Ng was arrested in Malaysia. The Wall Street Journal reports that Low was last seen in China but remains at large. The Associated Press quotes Low's spokesman as saying, "Mr. Low is just asking the public to keep this case open until all evidence that he believes justifies him."
While the Justice The department has been investigating the 1
The indictment accuses Leissner and Ng of using Lows links to government officials in Malaysia and Abu Dhabi to "keep 1MDB's business for [Goldman Sachs] by pledging and paying hundreds of millions of dollars in bribes," including three bond deals that cost around 6MB between 2012 and 2013 for the 1MDB fund $ 5 billion. Www.mjfriendship.de/de/index.php?op…95&Itemid=55 In court records, it is alleged that the men and their co – conspirators used the laundered money to pay bribes. Englisch: www.mjfriendship.de/en/index.php?op…95&Itemid=55 […] Paying and "for the personal benefit of co-conspirators and their dependents and partners, including for the purchase of luxury real estate in the US and works of art from an auction house in New York, New York, and funding major Hollywood films."
In total According to court records, more than $ 2.7 billion was misused by the three men and other suspected colleagues.
Goldman Sachs, who has made hundreds of millions out of his work with the Fund, denies any wrongdoing.
Founded in 2009 by then-Prime Minister Najib Razak to foster foreign investment in Malaysia, the 1MDB fund quickly attracted attention as it quickly accumulated $ 11 billion in debt.
A study of the journal revealed that millions in connection with the fund landed on Najib's personal bank accounts. Najib tried to block investigations, but after losing an election earlier this year, he was arrested in July and has since been indicted multiple times for corruption. He denies any wrongdoing.
His wife Rosmah Mansor was also arrested in October and charged in connection with the scandal.
The couple is waiting for a lawsuit.