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Goldman Sachs pleads not guilty in Malaysia over 1MDB bond sales

Three units of Goldman Sachs pleaded not guilty to charges of misleading investors regarding 6.5 billion USD in bond sales that the US investment bank helped raise for state fund 1Malaysia Development Berhad (1MDB), Bernama state news agency reported on February 24.
Goldman Sachs pleads not guilty in Malaysia over 1MDB bond sales ảnh 1Illustrative image (Source:Finews)

Hanoi (VNA) - Threeunits of Goldman Sachs pleaded not guilty to charges of misleading investorsregarding 6.5 billion USD in bond sales that the US investment bank helpedraise for state fund 1Malaysia Development Berhad (1MDB), Bernama state newsagency reported on February 24.

The US Department of Justice estimates 4.5 billion USD wasmisappropriated from Malaysia’s 1MDB between 2009 and 2014, including some ofthe funds that Goldman Sachs helped raise.

Malaysian prosecutors filed charges in December 2018 against theunits, based in London, Hong Kong (China) and Singapore, for misleadinginvestors by making untrue statements and omitting key facts in relation to the1MDB bond issues.

A representative for Goldman Sachs pleaded not guilty after thecharges were read out at the Kuala Lumpur High Court on February 24.

The court set the trial for November, with hearings scheduleduntil April 2021, according to Bernama.

Goldman Sachs has consistently denied wrongdoing, saying thatcertain members of the former Malaysian government and 1MDB lied to it abouthow proceeds from the bond sales would be used.

Malaysia has said it was seeking up to 7.5billion USD in reparations from Goldman Sachs over its dealingswith 1MDB./.
VNA
#Goldman Sachs#US investment bank#1Malaysia Development Berhad#Malaysian prosecutors#Malaysian government#Vietnam#VietnamPlus#Viet Nam News
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