1MDB's Destructive Path, From Wall Street To Hollywood
Law360 (October 22, 2020, 8:43 PM EDT) -- Goldman Sachs settled corruption charges on Thursday tied to the 1Malaysia Development Berhad fund, but not before the yearslong scandal left a path of destruction that brought down once-respected individuals and tainted deals from Wall Street to Hollywood.
Thursday's deal marked the first criminal settlement in Goldman's history as a public company, but the scandal surrounding 1MDB did more than chip away at the revenues and reputation of the Wall Street mega-bank.
The scheme involved billions of dollars purportedly raised for public development projects in Malaysia, funds that were allegedly looted by powerful individuals including the country's former prime minister, Najib Razak, who...
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