Malaysiar

Senior Chinese leaders offered in 2016 to help bail out a Malaysian government fund at the center of a swelling, multibillion-dollar graft scandal, according to minutes from a series of previously undisclosed meetings reviewed by The Wall Street Journal. Chinese officials told visiting Malaysians that China would use its influence to try to get the U.S. and other countries to drop their probes of allegations that allies of then-Prime Minister Najib Razak and others plundered the fund known as 1MDB, the minutes show, The Wall Street Journal reported.

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Since becoming a symbol of Wall Street greed during the financial crisis, Goldman Sachs has tried to recast its image as an investment bank that cares as much about ethics as it does its bottom line, the New York Times reported. Now, that makeover is being undone by the bank’s work for an obscure investment fund in Malaysia, which has entangled it in civil and criminal investigations around the world. Goldman recently received subpoenas from New York regulators, held talks with federal prosecutors and is likely to incur billions of dollars in penalties.
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Malaysia charged a former deputy prime minister with breaking money-laundering and corruption laws as Mahathir Mohamad’s government steps up investigations into graft allegations plaguing the former administration, The Wall Street Journal reported. Zahid Hamidi, who waved to supporters as he arrived at court, pleaded not guilty to all 45 charges. The charges involve a total of 114 million ringgit ($27.4 million), and include allegations he used funds from a family-run charity to pay off credit card debts. He was freed on bail. Mr.

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