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Malaysia: No talks with Goldman Sachs on recovering funds lost in 1MDB scandal

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Christian Fernsby ▼ | October 4, 2019
Malaysia's finance minister on Friday said there are no talks with Goldman Sachs Group Inc on the recovery of billions of dollars of state funds lost via the U.S. bank's former client 1Malaysia Development Bhd (1MDB), local media reported.
Asia   1MDB
Malaysia filed criminal charges last year against Goldman Sachs over its role as underwriter and arranger of three bond sales that raised $6.5 billion for the now-defunct state investment fund.

Topics: Malaysia Goldman Sachs 1MDB

The U.S. Department of Justice is investigating the bank for its role in the sales which involved fees higher than market rates.

It also estimated $4.5 billion was misappropriated from 1MDB by fund officials and associates from 2009 through 2014.

"There are no discussions with Goldman Sachs but we will continue with the legal process conducted by the attorney-general," Malaysian Minister of Finance Lim Guan Eng was quoted as saying by news portal Malaysiakini.