Asia

Malaysia may sue Goldman Sachs over 1MDB scandal: PM Anwar

Goldman did not immediately respond to a Reuters request for comment.

The US bank has always denied wrongdoing in the 1MDB case.

Malaysian and US authorities estimate some US$4.5 billion were stolen from 1MDB between 2009 and 2014, in a globe-spanning scheme that implicated high-level government and banking officials in Malaysia and elsewhere.

Goldman had helped 1MDB raise US$6.5 billion in two bond offerings, earning itself $600 million in fees, according to the US Justice Department.

As part of the 2020 settlement, Goldman is also required to make a one-time interim payment of US$250 million if the Malaysian government has not received at least US$500 million in assets and proceeds by August 2022, the bank said in a regulatory filing this year.

The two parties disagreed over whether Malaysia recovered at least US$500 million as of August 2022 and whether any interim payment was due, Goldman said.

The dispute would be settled by arbitration if the two are unable to resolve the matter, the bank said.

Source: CNA

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