Goldman Sachs settles with Malaysia, will pay $3.9B over sprawling 1MDB cor

[AzaadAlfaaz1316]

https://www.cbc.ca/news/business/malaysia-1mdb-goldman-sachs-1.5661483

U.S. investment bank Goldman Sachs has reached a $3.9 billion US settlement with the Malaysian government over the multibillion-dollar 1MDB scandal, the two sides said on Friday.

The deal includes a $2.5 billion cash payout by Goldman and a guarantee by the bank to return at least $1.4 billion in assets linked to 1MDB bonds, Malaysia's finance ministry said in a statement.

"We are confident that we are securing more money from Goldman Sachs compared to previous attempts, which were far below expectations," Finance Minister Tengku Zafrul Aziz said in a statement.

Former Malaysian Prime Minister Najib Razak, left, in a tan suit and wearing a face mask, is shown last month at a court appearance in Kuala Lumpur. Najib is set to find out the verdict in one of the trials he faces in the 1MDB scandal next week. (The Associated Press)

 

[Caballero]

is this the payment for 90s fiasco ?

 

[AzaadAlfaaz1316]

is this the payment for 90s fiasco ?

No That 90s was different financial meltdown as i remember it was about One guy US citizen in Singapore who crashed Malaysian stock Market.. PM Mahatir blamed it on USA for stooping Malaysia to become economic power. This is about PM Najib who came after Mahtir .. He Looted like Nawaz Shrif ..But Malaysia got rid of him plus got money back ! looted money