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11/4/2019, 12:09 PM (Source: TeleTrader)
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Malaysia willing to take Goldman to court over 1MDB

Malaysian Prime Minister Mahathir Mohamad said on Monday that "if we cannot reach an agreement, we've to go to court," referring to the amount Goldman Sachs Group, Inc. has to compensate Kuala Lumpur for its alleged involvement in the 1Malaysia Development Berhad (1MDB) criminal case.

American investment bank reportedly previously offered below $2 billion, while the Malaysian government seeks more as the country lost "about $7 billion" in the illegal issuance of three 1MDB bonds, according to the country's PM.

Several high ranking officials from Goldman Sachs are already facing charges in Malaysia over their involvement in the scandal. It was reported in October that there have been negotiations between the two sides over the drop of charges and over the amount of the fine Goldman has to pay to Malaysian authorities.

Breaking the News / MS