1MDB corruption scandal

  1. Bank pleads not guilty in 1MDB corruption scandal

    David Cameron and Najib Razak
    Image caption: David Cameron and Najib Razak, Malaysia's ex-prime minister

    It is one of the world's greatest financial scandals. Billions of dollars from state fund 1MDB meant to help the Malaysian people went missing, disappearing into the shadows of the global financial system.

    Today three units of Goldman Sachs have pleaded not guilty over its alleged role in the scandal, according to local media.

    Billions were allegedly looted from the Malaysian fund in a globe-spanning fraud, which reportedly involved the country's ex-prime minister Najib Razak (pictured above with a former British prime minister) and his inner circle.

    The bank's role has been under scrutiny as it helped arrange a series of bond issues worth $6.5bn (£5bn) for the investment vehicle 1MDB.

    The units were accused of giving false statements that led to large sums being misappropriated in relation to the bond issues.

    1MDB: The playboys, PMs and partygoers around a global financial scandal

  2. Video content

    Video caption: Najib Razak : Ex-Malaysia PM's second fraud trial begins

    Najib Razak faces charges over an alleged multibillion-dollar fraud involving the state fund 1MDB.