Goldman Sachs bankers 'cheated' Malaysia over 1MDB: Mahathir

Goldman Sachs bankers 'cheated' Malaysia over 1MDB: Mahathir”

On Nov 1, the DoJ indicted Ng's former colleague, Tim Leissner, alongside fugitive financier Low Taek Jho (Jho Low) over funds misappropriated from 1MDB and bribing various Malaysian and Abu Dhabi officials.

U.S. prosecutors filed criminal charges against two former Goldman Sachs bankers earlier this month.

Goldman Sachs Group Inc.'s (GS.N) shares fell for a third day as analysts tried to put a price on the firm's current scandal.

Malaysia wants to reclaim from Goldman Sachs Group Inc GS.N the fees the US bank received for helping state fund 1Malaysia Development Bhd (1MDB) [TERRN.UL] raise money as well as consequential losses, Minister of Finance Lim Guan Eng said on Tuesday.

A second Goldman Sachs spokesman in Hong Kong declined to comment on Mahathir's comments in the interview.

Malaysia's finance minister reportedly asked for Goldman to return the $600 million in fees it received for underwriting three bond deals that raised $6 billion - about half of which the hard-partying Low used to allegedly bribe foreign officials and fund his opulent lifestyle. Goldman Sachs denied any wrongdoing.

'If the law says that somebody has committed a crime, then he should be accordingly punished through the process of law, ' he said.

"The DOJ (Department of Justice of the United States) says it is about US$4.3 billion".

On November 12, Goldman Sachs' share price fell to its lowest in almost two years after Malaysia's Minister of Finance Lim Guan Eng said his country would seek a full refund of the fees the bank earned from 1MDB deals.

1MDB's bonds were sold at a "much higher" yield than what was the market rate at that time, and Malaysia will also seek from Goldman losses that stemmed from the interest-rate differential, Lim told BFM radio station. It was the company's biggest drop since losing eight percent in November 2011.

Goldman Sachs stated that it was cooperating with the authorities and could possibly be looking at paying hefty fines.

Citing sources, Reuters reported in June that Malaysia was considering asking the U.S. Justice Department to get Goldman Sachs to return the fees it had earned from the 1MDB deals.

A DOJ spokeswoman said the U.S. would continue to pursue justice over the 1MDB investigations and would recover assets to be used to "benefit the people" who were affected by corruption and abuse of power.

Records show that Low, who remains at large, isn't in China on a Malaysian passport as previously thought, Lim told the BFM radio station.

Like this



14 November 2018
Bengals hire Hue Jackson as special assistant to Marvin Lewis
Jackson was sacked by Cleveland in late October after the team opened the season with a 2-5-1 record. The Cincinnati Bengals made it official on Tuesday morning, announcing the hiring of Hue Jackson.

14 November 2018
Alexandria Ocasio-Cortez Joins Climate Change Protest Outside Pelosi's Office | Trending
The group isn't backing or putting forward an alternative to Pelosi; their sole aim is to ensure she's not elected speaker. No candidate has emerged to take her on, with even her opponent after the 2016 elections, Rep.

14 November 2018
Quicktake: Why are oil prices plunging?
The decline in prices continued last week after the United States said it would let eight countries keep importing Iranian oil. Brent dropped US$1.97 a barrel, or 2.8 per cent, to a low of US$68.15 and was trading at around US$68.40 by 1045 GMT.

14 November 2018
North Korea secretly developing nuclear weapons programme: USA report
They are created to enable mobile missile launchers to quickly exit the underground facilities and move to previously prepared launch sites.

14 November 2018
Days after visit, Trump blasts Macron as relations sour
Trump visited a different US cemetery in a Paris suburb on Sunday. "Patriotism is the exact opposite of nationalism", Macron said. Trump as a outcome , refused to sign the G7 statement and hinted at other tariff measures against the US neighbor to the north.

14 November 2018
Prince Charles celebrates 70th birthday
Charles' sons, Prince William and Prince Harry , and daughter-in-law Meghan, Duchess of Sussex are also pictured. Prince William and Duchess Kate stand alongside newlyweds Prince Harry and Meghan , having an equally good time.

14 November 2018
Flipkart Group CEO Binny Bansal resigns with immediate effect
Mr Bansal co-founded Flipkart in 2007 with Sachin Bansal who, despite sharing the same surname, is not related. Walmart reports its quarterly results on Thursday and is likely to provide an update on its India business.

14 November 2018
Mueller reportedly asking about Farage's role in Trump campaign
But Corsi said he had just "figured out" the link to Wikileaks, and had never met Assange or had any inside information. Trump denied saying any such thing to Corsi later on, Heavy reported.

14 November 2018
This is a Photographer Covering the Wildfires in California
But after several days with no information on their whereabouts, she said the family is starting to prepare for the worst. Of the dead, only four sets of remains have been positively identified by Butte County authorities.

08 May 2018
What are the Most Attractive Gambling Destinations Across The Globe?
New research carried out by have discovered what are the most popular destination between online gamblers. The team have quizzed 2,432 Britons that gamble online asking what is their preferred gambling destinations.