U.S. prosecutors target Goldman Sachs in 1MDB probe: NYT
08 Aug 2018

U.S. prosecutors are investigating whether Goldman Sachs Group Inc (GS.N) has any culpability in a Malaysian fraud involving a government fund that had ties to a former bank employee, the New York Times reported on Tuesday.

1Malaysia Development Berhad (1MDB) is at the center of money-laundering investigations in at least six countries, including the United States, Switzerland and Singapore.

An estimated $4.5 billion was misappropriated from 1MDB by high-level officials of the fund and their associates, the U.S. Justice Department has alleged.

The investigation into how $4 billion disappeared from 1Malaysia Development Berhad, or 1MDB, has involved U.S. attorneys’ offices in Los Angeles and New York, but the U.S. Department of Justice gave control to federal prosecutors in Brooklyn who are “intensively focused” on Goldman’s role, the Times reported, citing people familiar with the probes.

U.S. prosecutors are investigating whether Goldman Sachs Group Inc (GS.N) has any culpability in a Malaysian fraud involving a government fund that had ties to a former bank employee, the New York Times reported on Tuesday.

1Malaysia Development Berhad (1MDB) is at the center of money-laundering investigations in at least six countries, including the United States, Switzerland and Singapore.

An estimated $4.5 billion was misappropriated from 1MDB by high-level officials of the fund and their associates, the U.S. Justice Department has alleged.

The investigation into how $4 billion disappeared from 1Malaysia Development Berhad, or 1MDB, has involved U.S. attorneys’ offices in Los Angeles and New York, but the U.S. Department of Justice gave control to federal prosecutors in Brooklyn who are “intensively focused” on Goldman’s role, the Times reported, citing people familiar with the probes.

– By Diptendu Lahiri, Reuters, 7 August 2018.

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