{"id":10064,"date":"2023-04-17T12:38:38","date_gmt":"2023-04-17T10:38:38","guid":{"rendered":"https:\/\/investmentbell.com\/?p=10064"},"modified":"2023-04-17T12:38:44","modified_gmt":"2023-04-17T10:38:44","slug":"malaysia-to-review-3-9-billion-settlement-deal-with-goldman-sachs-pm-anwar","status":"publish","type":"post","link":"https:\/\/investmentbell.com\/vi\/news\/market-overview-news\/malaysia-to-review-3-9-billion-settlement-deal-with-goldman-sachs-pm-anwar\/","title":{"rendered":"Malaysia to review $3.9 billion settlement deal with Goldman Sachs &#8211; PM Anwar"},"content":{"rendered":"<p>KUALA LUMPUR (Reuters) &#8211; The Malaysian government is re-evaluating a $3.9 billion settlement deal reached between the previous administration and U.S. investment bank Goldman Sachs (NYSE:GS) over the 1MDB financial scandal, state news agency Bernama reported on Monday.<\/p>\n\n\n\n<p>Prime Minister Anwar Ibrahim said on Monday a government taskforce looking into 1MDB issues was scrutinising the 2020 deal with Goldman, adding that it was a matter of recovering public funds, Bernama reported.<\/p>\n\n\n\n<p>&#8220;I agree (with a review) because from the start, I felt the settlement agreement was done hastily which led to many questions being raised,&#8221; Anwar was quoted as saying by Bernama.<\/p>\n\n\n\n<p>Goldman Sachs agreed in 2020 to pay $2.5 billion in cash and guarantee the return of $1.4 billion in assets to Malaysia to settle a criminal probe into the bank&#8217;s alleged involvement in the multi-billion-dollar scandal, in a deal reached during the administration of Muhyiddin Yassin.<\/p>\n\n\n\n<p>Goldman did not immediately respond to a request for comment.<\/p>\n\n\n\n<p>Malaysian and U.S. authorities estimate some $4.5 billion were stolen from 1MDB between 2009 and 2014, in a globe-spanning scheme that implicated high-level government and banking officials in Malaysia and elsewhere.<\/p>\n\n\n\n<p>Goldman had helped 1MDB raise $6.5 billion in two bond offerings, earning itself $600 million in fees, according to the U.S. Justice Department.<\/p>\n\n\n\n<p>Since taking office last November, Anwar has sought to review previous governments&#8217; decisions on 1MDB in a bid to recoup money embezzled from the fund.<\/p>\n\n\n\n<p>In February, Abu Dhabi&#8217;s International Petroleum Investment Co and its unit Aabar Investments PJS agreed to pay Malaysia $1.8 billion to settle a separate legal dispute over 1MDB.<\/p>\n\n\n\n<p>1MDB is the subject of corruption and money-laundering investigations in at least six countries.<\/p>\n\n\n\n<p>Last month, former Goldman banker Roger Ng was sentenced by a U.S. court to 10 years in prison, after being convicted of helping to loot billions of dollars from 1MDB.<\/p>\n<div class=\"rate-now\"><span id=\"rate-mypost10064\"><\/span> <span id=\"rate-points\"> 0<\/span><\/div>\n\t\t\t<script type=\"text\/javascript\">jQuery('#rate-mypost10064').raty({\n\t\t\t\thalfShow : true,\n\t\t\t\thalf: true,readOnly: true,score: 0,\n\t\t\t\tpath: \"https:\/\/investmentbell.com\/wp-content\/plugins\/userpro-rating\/images\/\"\n\t\t\t\t});<\/script>","protected":false},"excerpt":{"rendered":"<p>KUALA LUMPUR (Reuters) &#8211; The Malaysian government is re-evaluating a $3.9 billion settlement deal reached between the previous administration and U.S. investment bank Goldman Sachs (NYSE:GS) over the 1MDB financial scandal, state news agency Bernama reported on Monday. Prime Minister Anwar Ibrahim said on Monday a government taskforce looking into 1MDB issues was scrutinising the [&hellip;]<\/p>","protected":false},"author":13,"featured_media":10065,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[89],"tags":[],"class_list":{"0":"post-10064","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-market-overview-news"},"_links":{"self":[{"href":"https:\/\/investmentbell.com\/vi\/wp-json\/wp\/v2\/posts\/10064","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/investmentbell.com\/vi\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/investmentbell.com\/vi\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/investmentbell.com\/vi\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/investmentbell.com\/vi\/wp-json\/wp\/v2\/comments?post=10064"}],"version-history":[{"count":0,"href":"https:\/\/investmentbell.com\/vi\/wp-json\/wp\/v2\/posts\/10064\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/investmentbell.com\/vi\/wp-json\/wp\/v2\/media\/10065"}],"wp:attachment":[{"href":"https:\/\/investmentbell.com\/vi\/wp-json\/wp\/v2\/media?parent=10064"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/investmentbell.com\/vi\/wp-json\/wp\/v2\/categories?post=10064"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/investmentbell.com\/vi\/wp-json\/wp\/v2\/tags?post=10064"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}