Goldman Sachs Faces First Criminal Charges in 1MDB Scandal

``Malaysia turned up the heat on Goldman Sachs Group Inc., filing the first criminal charges against the U.S. bank in relation to the 1MDB scandal. Authorities alleged that Goldman misled investors when the bank knew that proceeds from 1MDB bond sales it arranged would be misappropriated. The government is seeking fines well in excess of both the $2.7 billion of allegedly misused funds and the $600 million in fees received by Goldman on the deals. Goldman has blamed rogue employees for any wrongdoing in relation to 1MDB, a state-owned investment fund.''