• Malaysia files criminal charges against Goldman Sachs over 1MDB scandal. It accused the bank of making false and misleading statements, a rare rebuke of an institution that has long represented the pinnacle of money and power. The Malaysian authorities also charged several individuals in connection with the multibillion-dollar investment fraud that ensnared Goldman and led to the ouster of Malaysia’s former prime minister Najib Razak. → Go deeper: The charges relate to a Malaysian state investment fund called 1Malaysia Development Berhad, or 1MDB, from which officials and employees are suspected of looting billions of dollars. The money funded an enormous spending spree, according to U.S. federal prosecutors.

Source: New York Times December 17, 2018 19:18 UTC