After Prime Minister Mahathir Mohamad said Goldman Sachs «cheated» Malaysia, the bank's shares are down.

For its role in one of the biggest financial scandals in history, U.S. bank Goldman Sachs is now punished by its investors. Goldman Sachs shares are down more than 10 percent since news broke on Nov. 1 that a former partner pleaded guilty, as the «Wall Street Journal» (behind paywall) reported this weekend. 

According to further information another former employee was charged with helping steal money from a Malaysian government investment fund known as 1MDB and paying bribes to the country’s leader to help Goldman win more business.

Aggressive Steps

Earlier last week, Malaysia's Prime Minister Mahathir Mohamad said in an interview with U.S. news channel «CNBC», bankers at Goldman Sachs «cheated» Malaysia in dealings with state fund 1MDB, amid growing calls in the country for more aggressive steps to recoup fees earned by the bank.

The U.S. investment bank has been under scrutiny for its role in helping raise funds through bond offerings for 1Malaysia Development Berhad (1MDB), which is the subject of corruption and money-laundering investigations in at least six countries.

Things Done Wrong

«There is evidence that Goldman Sachs has done things that are wrong,» Mahathir said. «Obviously we have been cheated through the compliance by Goldman Sachs people,» he said, without specifying details. A Goldman Sachs spokesman in Hong Kong declined to comment on the interview.

Goldman Sachs' share price fell to its lowest in nearly two years on Monday after Malaysia's Minister of Finance Lim Guan Eng said his country would seek a «full refund» of the fees the bank earned from 1MDB deals.