Units of the U.S. bank face criminal charges of misleading investors when arranging US$6.5 billion ($8.98 billion) of bond sales for state fund 1MDB while allegedly knowing that the funds would be misused. Malaysia is seeking fines in excess of the US$2.7 billion allegedly misappropriated and the return of US$600 million that Goldman made from the bond deal.
(Sept 30): Malaysia is seeking to move the 1MDB-linked case against Goldman Sachs Group Inc. to a higher court.
Authorities will apply to transfer the case to the High Court, from a magistrate court currently, on Oct. 22, prosecutor Aaron Paul Chelliah said Monday. The order came from the Attorney-General’s Chambers, which didn’t specify its reasons, he said, adding that such a move is usually due to the seriousness of the case.
