The Goldman Sachs Malaysia unit has pleaded guilty in the biggest cross-border financial scam, the 1 Malaysian Development Behran.
The Malaysian government had filed criminal charges against two former Goldman Sachs bankers and a Malaysian financier for stealing billions of dollars from the state’s sovereign funds between 2009 and 2014.
“These charges stem from Goldman Sach’s central role in a massive global scheme to loot billions of dollars from the Malaysian government-run fund known as 1MDB,” acting Assistant Attorney General Brian C. Rabbitt said in a statement. “And the subsequent use of those funds by senior Goldman bakers and their co-conspirators to pay billions of dollars in bribes to senior government officials across the world.”
Goldman Sachs has admitted…