ISLAMABAD – Malaysia’s Prime Minister Mahathir Mohamad has said thesoutheast Asian nation is not going to accept $2 billion from Goldman Sachsas compensation for the 1MDB scandal, the Financial Times reports.
“Goldman Sachs has offered something like less than $2 billion”, the PrimeMinister told the newspaper. “We are not satisfied with that amount so weare still talking to them . . . If they respond reasonably we might notinsist on getting that $7.5 billion”.
It is not the first time Malaysian officials have declined a compensationoffer from the US Goldman Sachs company. In June, the financial group hadproposedlinktogive $241.73 million as repayment on the money lost by Malaysia underthen-Prime Minister Najib Razak.
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The scandal erupted after Goldman helped Malaysia’s state-run fund1Malaysia Development Berhad (1MDB) collect $6.5 billion in investment in2012-13, and charged the company $600 million – a price much higher thantypical Goldman fees. Former Malaysian Prime Minister Najib Razak has beenaccused of money laundering and embezzlinglinkabout$4.5 billion from the fund.
