PN govt duped by Goldman Sachs in 1MDB case settlement – Guan Eng


By S. Harrish

THE Perikatan Nasional (PN) government should have stuck with the original demand for US$7.5 billion from Goldman Sachs instead of settling for just US$2.5 billion.

Former finance minister Lim Guan Eng said PN had been cheated out of full restitution in the 1Malaysia Development Berhad (1MDB) scandal by settling for the lower sum.

He said PN should have just stuck with what the Pakatan Harapan government was demanding from Goldman Sachs.

“The present federal government was clearly duped by Goldman Sachs, when it should have stuck to the PH government’s demand for a full restitution of at least US$7.5 billion.

By settling for only US$2.5 billion or a third of the original claim of US$7.5 billion, the Finance Ministry has sold the people short,” he said in a statement.

According to a Malay Mail report, Lim’s statement comes on the heels of a report by Al Jazeera that the US Department of Justice (DoJ) was seeking to recover an additional US$300 million in assets linked to the 1MDB scandal.

He pointed out that the US DoJ has so far helped Malaysia recover nearly US$1.1 billion in assets.

Lim said Goldman Sachs “has cleverly secured a good deal at the Malaysian government’s expense” to clear 17 of its current and former directors charged with criminal fraud in connection to 1MDB.