Malaysia: Malaysia seeks to amend 1MDB charges against Goldman Sachs

Malaysian prosecutors will seek to amend charges against three Goldman Sachs Group Inc. units in the case involving troubled state fund 1MDB.

Prosecutors will be seeking amendments involving liability, with Goldman’s lawyers arguing the proposed changes would be substantial, according to proceedings at the Kuala Lumpur High Court on Thursday. The court set Sept. 4 for the next case management hearing.

The U.S. bank is accused of misleading investors when it arranged $6.5 billion of bond sales for 1MDB while allegedly knowing that the funds would be misappropriated. Prosecutors are seeking fines in excess of the $2.7 billion allegedly misappropriated from the proceeds, and the return of $600 million of fees received by Goldman.

The full original article can be found at bloombergquint.com

(Photo: Reuters)

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