Goldman Sachs probed by U.S. investigators over 1MDB

U.S. investigators are trying to assess whether Goldman Sachs violated the Bank Secrecy Act, in relation to the 1MDB scandal as it had helped the Malaysian state-owned firm raise $3bn in debt on which the firm missed an interest payment.

It appears that half of the proceeds from the sale, which were transferred by Goldman Sachs to a Swiss bank account controlled by 1MDB, disappeared with some ending up in the Malaysian prime minister’s bank account.

The investigators believe that Goldman Sachs may have had grounds to believe that the money was not used for its intended purpose and has not been accused of wrongdoing.

Sources: Reuters

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