Goldman Sachs pleads not guilty in 1MDB bond sales fraud

The bank is accused of misleading investors on $6.5b in bond sales.

Goldman Sachs pleaded not guilty to charges of misleading investors on $6.5b in bond sales that it raised for Malaysian state fund 1Malaysia Development Berhad (1MDB), reports Reuters.

Around $4.5b were misappropriated from 1MDB between 2009 to 2014, according to the US Department of Justice.

In December 2018, Malaysian prosecutors filed charges against the bank’s units in London, Hong Kong and Singapore for making false statements and omitting information to investors regarding 1MDB bond issues.

The court set the trial for November with hearings scheduled until April 2021, said state news agency Bernama.

Here's more from Reuters.