Explainer-Goldman Sachs and its role in the multi-billion dollar 1MDB scandal
© Reuters. FILE PHOTO: The logo for Goldman Sachs is seen on the trading floor at the New York Stock Exchange in New York City, New York, U.S., November 17, 2021. REUTERS/Andrew Kelly/File photo) has sued Malaysia in a British arbitration court, as tensions escalate over a settlement agreement on the bank's role in the massive 1MDB corruption scandal.
Low, a fugitive, has been charged in Malaysia and the United States over his central role in the case. He denies wrongdoing.Najib was not named by the DoJ, but was alluded to in the investigation as"Malaysian Official 1", according to Malaysian and U.S. sources. The 1MDB work earned the bank $600 million in fees and led to large bonuses for some of its executives, officials have said.
Tim Leissner, a former Goldman partner, pleaded guilty in 2018 to conspiring to launder money and violate an anti-bribery law, and agreed to cooperate with prosecutors. He has not been sentenced and, according to media reports, he has been free on $20 million bail since his arrest in 2018.
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