Tags: APFN | AS | Malaysia | Financial Scandal

Malaysia Says Goldman Sachs Must Pay, Apology Not Enough

Friday, 18 January 2019 03:38 AM

PUTRAYAJAYA, Malaysia (AP) — Malaysia's Finance Minister Lim Guan Eng says the apology by Goldman Sachs for its role in the alleged multibillion-dollar ransacking of state investment fund 1MDB was insufficient and that it has to pay $7.5 billion as compensation.

Goldman CEO David Solomon on Wednesday apologized to the Malaysian people for former banker Tim Leissner's role in arranging bond sales for 1MDB, that provided one of the means for associates of former Malaysian Prime Minister Najib Razak to steal billions over several years from the fund.

Solomon has said the investment bank conducted due diligence but was misled by Leissner and former Malaysian government officials.

Lim said Friday the apology was not enough and that Goldman must be made accountable by paying back $7.5 billion to Malaysia.

© Copyright 2019 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

   
1Like our page
2Share
GlobalTalk
Malaysia's Finance Minister Lim Guan Eng says the apology by Goldman Sachs for its role in the alleged multibillion-dollar ransacking of state investment fund 1MDB was insufficient and that it has to pay $7.5 billion as compensation.Goldman CEO David Solomon on Wednesday...
APFN,AS,Malaysia,Financial Scandal
128
2019-38-18
Friday, 18 January 2019 03:38 AM
Newsmax Media, Inc.
 
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
© Newsmax Media, Inc.
All Rights Reserved