Malaysian Prime Minister Anwar Ibrahim has reportedly demanded Goldman Sachs to honor its settlement over the 1MDB scandal but the American lender disagrees over the value of proceeds received.
The Prime Minister of Malaysia is calling on Goldman Sachs to make good on a settlement announced in July 2020 to pay $2.5 billion and return $1.4 billion of assets over the 1MDB scandal in exchange for dropped charges.
«My only appeal is for them to settle this deal with Malaysia because 1MDB is known throughout the world. It is there in the books and I think that Goldman Sachs should come out clean and deal with Malaysia,» Anwar Ibrahim said in an interview with «Bloomberg».
Accounting Issues
In response, Goldman Sachs cited a filing that highlights a disagreement over whether or not $500 million in proceeds was received by the Malaysian government by August 2022, as per an original agreement. According to Goldman, Malaysia had «unilaterally reduced» the value of one asset by $80 million and excluded substantial additional assets in the accounting of assets and proceeds recovered.
«Given a fair deal, we are supposed to be paid much more than that, which I intend to deal with them if these things are not settled amicably,» Anwar said in response to Goldman’s claims.
«But if they come and pressure us with this, I will have no choice because I have a mandate from my people, and people are struggling to live and you with your hundreds of billions of profit and squandering. [Y]ou can’t just get away by ignoring your moral responsibility and financial responsibility.»
