AGC drops charges against Goldman Sachs, Asian entities over 1MDB bonds

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Goldman Sachs will pay the government US$3.9 billion as settlement in the 1MDB bonds issue case. (Bloomberg pic)KUALA LUMPUR: The Attorney-General’s Chambers (AGC) dropped criminal charges filed against Goldman Sachs and its Asian entities in relation to 1MDB today. The government had alleged that they omitted material fact in raising US$6.5 billion in bonds for 1MDB’s independent power plant purchases and the Tun Razak Exchange and Bandar Malaysia projects. Deputy public prosecutor Masri Daud informed High Court judge Mohamed Zaini Mazlan that the charges were being dropped during case mention this morning.. “The prosecution does not wish to proceed with the charges filed under the Capital Market and Services Act against them,” he said. Lawyer Hisyam Teh, appearing for Goldman Sachs and its Asian entities, asked the court to grant a discharge and acquittal order to his clients, w…