MALAYSIA WELCOMES GOLDMAN SACHS $3.9-B SETTLEMENT ON 1MDB SCAM

The Malaysian government has welcomed the RM 16.6-billion ($3.9-billion) settlement with Goldman Sachs over the assets of 1Malaysia Development Berhad (1MDB) alleged to have been frittered away by the previous government and some influential businessmen, Bernama news agency reported on the night of July 24, 2020.

In a report carried by New Straits Times on July 25, 2020, Malaysian Prime Minister Tan Sri Muhyiddin Yassin said his government is committed to continuing efforts to recover assets linked to 1MDB and claims against individuals and quarters involved in the financial scandal.

"I welcome the announcement on the settlement worth RM16.6 billion (US$3.9 billion) reached between the Malaysian government and Goldman Sachs over the government's claims related to wrongdoing and misappropriation in the 1MDB case," he said.

Goldman Sachs Group, Inc. reportedly agreed today to pay $3.9 billion to settle outstanding claims related to three bond transactions arranged for 1MDB. The settlement brings the 1MDB funds to be returned to Malaysia to RM19 billion (US$4.5 billion), including the funds returned earlier by the US Department of Justice.