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00:00:01
>> Malaysia has filed criminal charges against Goldman Sachs and two of the bank's former employees in connection with the country's probe into corruption at the 1MDB state investment fund. That's according to Malaysia's attorney general who, on Monday, accused the company on commissioning misleading statements and misappropriating almost $3 billion.
00:00:22
He says prosecutors will be seeking fines well in excess of that amount plus up to ten years in jail time. But in an emailed statement to Reuters, Goldman Sachs said these charges are misdirected and that it continues to cooperate with the investigation. The US bank has been under tough scrutiny in recent months for its role in helping raise $6.5 billion through three bond offerings for the state fund.
00:00:48
It's consistently denied any wrongdoing. All this comes after US prosecutors filed criminal charges last month against the same two former Goldman Sachs employees. Meanwhile, former Malaysian Prime Minister, Najib Razak, faces 38 charges over 1MDB. Lawsuits filed in the US allege about $1 billion from the fund made its way into his personal bank accounts.
00:01:12
His trial is due to begin next year.