Malaysian negotiators are reportedly targeting a $2-3 billion payment from Goldman Sachs for its role in the 1MDB incident – a significant discount from its publicly named figure of $7.5 billion.
Although the final deal may diverge for this range, it demonstrates the willingness by to be flexible, a «Bloomberg» report said, citing anonymous sources.
It is unclear whether or not the settlement would lead Malaysian Attorney General Tommy Thomas to drop charges against Goldman Sachs’ 17 current and former executives, sources added. Malaysian prosecutors are simultaneously pushing for a Goldman Sachs hearing in a local high court.
Top Dealmaker
Malaysian Prime Minister Mahathir Mohamad is eager to demonstrate progress made on his pledge to recoup money lost from the 1MDB scandal and he has reportedly handpicked former finance minister Daim Zainuddin to serve as the «top dealmaker» to negotiate a favorable settlement.
Daim was Malaysia’s finance minister from 1984 to 1991 and was brought back by Mahathir in 1999 to helm the post-crisis economy until 2001. When Mahathir returned as the nation’s Prime Minister, he quickly appointed Daim as his top economic policy advisor.
