Deals
Singapore to Expand 1MDB Criminal Probe to Include Goldman
- Authorities focus on whether fees flowed into local unit
- Singapore introduced deferred-prosecution system this year
This article is for subscribers only.
Singapore has expanded a criminal probe into fund flows linked to scandal-plagued 1MDB to include Goldman Sachs Group Inc., which helped raise money for the entity, people with knowledge of the matter said.
Police in the city-state had been examining Goldman’s relationship with the Malaysian state investment company since at least late 2017, but until recently the firm’s local unit itself wasn’t a focus of any investigation, said the people, asking not to be named discussing sensitive information. Authorities are trying to determine whether some of the roughly $600 million in fees from the three bond deals Goldman arranged for 1MDB from 2012 to 2013 flowed to the Singapore subsidiary, they said.