Malaysia rejects 3-billion-USD settlement from Goldman Sachs
Malaysia would reject a settlement offer of 3 billion USD from Goldman Sachs related to the 1Malaysia Development Bhd (1MDB) financial scandal, said Finance Minister Zafrul Aziz.
Headquarters of Goldman Sachs in New York, the US(Photo: AFP/VNA)
Kuala Lumpur (VNA) – Malaysia would reject asettlement offer of 3 billion USD from Goldman Sachs related to the 1MalaysiaDevelopment Bhd (1MDB) financial scandal, said Finance Minister Zafrul Aziz.
The Malaysian government has filed criminal charges againstGoldman Sachs in Malaysia and 17 incumbent and former directors at three of itssubsidiaries.
Malaysia accused Goldman Sachs of misleading investors in arranging 6.5 billion USD in bond sales for 1MDB, while allegedly knowing themoney would be misappropriated.
Aziz said he had held a conversation with Goldman SachsGroup Inc representatives last month, adding that the country will continue itspursuit in the case.
Malaysia will not accept if the settlement stands at 2 or 3 billionUSD. The government will continue with the legal case as long as it does notaccept the amount.
According to the US Department of Justice, Goldman Sachsearned 600 million USD in fees for its work with 1MDB.
The 1MDB was set up by then Malaysian Prime Minister NajibRazak in 2009 to boost the country’s socio-economic development. Najib is nowfacing dozens of charges for corruption, misappropriation of funds and abuse ofpower linked to the fund./.
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Headquarters of Goldman Sachs in New York, the US(Photo: AFP/VNA)
