Singaporean prosecutors and police are examining Goldman Sachs’ relationship with the Malaysian state investment fund at the center of global money laundering probes, people with knowledge of the matter said.
Bloomberg News reports that The Commercial Affairs Department, the police’s economic crime unit, and city prosecutors have interviewed current and former Goldman Sachs executives who worked on bond offerings from 1Malaysia Development Bhd., said the people, who asked not to be named because the queries are confidential. Investigators are also looking into the firm’s links with Malaysian financier Low Taek Jho, who the U.S. has alleged controlled a plot to siphon billions of dollars from the bond proceeds, the people said.
Investigators’ meetings with current and former Goldman Sachs employees are part of a criminal probe into fund flows related to 1MDB, the people said. The bank itself isn’t the focus of the investigation, they said. Neither Goldman Sachs nor its current or former employees have been publicly accused of criminal offenses or charged in relation to the fund, whose dealings have sparked probes in Singapore, Switzerland and the U.S.
Hit the link below to access the complete Bloomberg News article: