PM welcomes Goldman Sachs’ RM16.6 bil settlement

Prime Minister Muhyiddin Yassin says the government is committed to continuing efforts to retrieve other 1MDB assets from related individuals and parties.

PETALING JAYA: Prime Minister Muhyiddin Yassin has welcomed the RM16.6 billion settlement between Goldman Sachs and the government last Friday.

He said in total, RM19 billion in 1MDB funds would be returned to Malaysia. This includes money returned by the US Department of Justice (DoJ) previously.

“The government is committed to continuing efforts to retrieve other 1MDB assets from related individuals and parties involved in the 1MDB scandal,” he said in a statement today.

Earlier today, Finance Minister Tengku Zafrul Aziz announced that the US investment bank had agreed to a total settlement of US$3.9 billion (RM16.6 billion) to resolve outstanding charges and claims related to the three bond transactions that the company had structured and arranged for 1MDB.

This settlement represents a significant increase compared with the earlier offer of US$1.75 billion made by Goldman Sachs to the government in 2019.- FMT