Malaysia has filed criminal charges against Goldman Sachs and two of its former employees over the alleged theft of billions of dollars, heaping fresh pressure on the Wall Street titan over the 1MDB scandal.

Goldman subsidiaries and ex-bankers Tim Leissner and Ng Chong Hwa are accused of misappropriating $2.7bn (£2.14bn), bribing officials and giving false statements when helping to arrange bonds for state fund 1MDB.

Allegations that huge sums were looted from 1MDB in an audacious fraud that involved former Malaysian leader Najib Razak and his associates, and used to buy everything from yachts to artwork, contributed to the last government’s shock defeat at historic elections in May.

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