The abuse of the sovereign state fund was made possible because of “complicity” from institutions such as Goldman Sachs, Anwar told Bloomberg Television’s Haslinda Amin in his first interview with international media since becoming prime minister. The Malaysian government in 2018 turned its attention to Goldman Sachs for its work raising US$6.5 billion in 2012 and 2013 for 1MDB, formally known as 1Malaysia Development Bhd. The settlement announced in July 2020 called for Goldman Sachs to pay US$2.5 billion while guaranteeing the return of US$1.4 billion of 1MDB assets seized by authorities around the world, in exchange for Malaysia dropping charges against the bank. We have to move on.”A Goldman Sachs spokesman referred Bloomberg News to the firm’s 10Q filing when reached for comment. At the time of its filing, Goldman Sachs had said the parties had a three-month window to try and resolve the dispute.

Source: The Edge Markets January 31, 2023 06:56 UTC