KUALA LUMPUR (AFP): Malaysia’s extraordinary 1MDB corruption scandal allegedly saw top officials loot billions from a state fund and go on a worldwide spending spree - buying up super-yachts, paintings by Van Gogh and Monet, and financing a Hollywood blockbuster. 1Malaysia Development Berhad (1MDB) is a state investment fund which Datuk Seri Najib Tun Razak launched in 2009 shortly after becoming Malaysia’s prime minister. Goldman’s roleGoldman Sachs faces mounting questions about its role in the scandal as the bank helped 1MDB raise US$6.5bil through three bond issues in 2012 and 2013. Malaysia’s new government announced charges Monday (Dec 17) against subsidiaries of Goldman and two of its former employees related to the controversy. Mahathir has said he wants to recover US$4.5bil allegedly taken from 1MDB, according to Bloomberg News.

Source: The Star December 18, 2018 09:56 UTC