Malaysian officials are not even accepting a $3 billion settlement from Goldman Sachs over its involvement with allegedly misleading investors over a bond sales to raise funds for 1MDB.
Tengku Zafrul Aziz – Malaysia’s newly appointed finance minister and former CIMB chief – said that the current settlement amount offered is not something the government can accept and it will persist with its legal push if an acceptable sum is not reached without specifying the amount.
«If it's US$2 billion, I can say, no. US$3 billion, no," he said in a «Reuters» report. «As long the amount is not something we think we can accept, then we continue with the legal case.»
Continued Pursuit
Goldman Sachs is entangled in the 1MDB scandal over allegations that it misled investors through a $6.5 billion bond sales to raise capital for sovereign wealth fund 1MDB. Alongside $600 million in fees earned, according to the U.S. Justice Department, Goldman Sachs and 17 current and former directors were subsequently charged.
«We are continuing our pursuit to get some money from GS. And the legal case is still ongoing, so we will have to wait for the outcome of that,» the minister added.
