Do what’s right and disclose 1MDB evidence, Guan Eng tells US

 

PETALING JAYA: Former finance minister Lim Guan Eng has urged the US government to release evidence it has on the 1MDB case, including the names of people who siphoned money from the company and the names of their beneficiaries.

In an exclusive interview with FMT, he said: “I think the US should not cover up these details. And, of course, we have a right to know.”

He was commenting on claims that US authorities were preventing the release of evidence related to the 1MDB scandal purportedly because it would be prejudicial to the US government’s motion to intervene in a civil suit.

The suit is brought by former prime minister Najib Razak against Goldman Sachs and a former executive of the company, Tim Leissner.

Lim said he believed the Biden administration would respect the rule of law and he urged Putrajaya to make a representation to Washington over the matter.

“The US government should be transparent,” he said, adding that it must disclose the identities of those who received money from Jho Low, the fugitive who is said to be the mastermind behind the 1MDB scandal.

“Every Malaysian has a right to know because it is our money.”

Referring to Putrajaya’s US$3.9 billion settlement with Goldman Sachs over the investment bank’s involvement in the scandal, Lim said the amount should actually have been US$7.5 billion.

“It should be retributive, where Goldman Sachs is punished for allowing the money to be squandered by Jho Low and his minions. They have practically robbed Malaysia blind.”

In its settlement with Putrajaya last July, Goldman Sachs paid the government US$2.5 billion and gave a guarantee that Malaysia would recoup an additional US$1.4 billion from 1MDB assets seized around the world.

Since these are seized assets, the guarantee would cause no financial loss to Goldman Sachs.

In the deal, Malaysia dropped criminal charges against the bank for omitting material facts in raising US$6.5 billion in bonds for 1MDB’s independent power plant purchases and the Tun Razak Exchange and Bandar Malaysia projects.

Lim called for the agreement to be made public to fulfil the demands of accountability and transparency.

He said the issue was “all about a lack of accountability and transparency”. - FMT