Finance Ministry: Goldman Sachs settlement over role in 1MDB scandal ‘represents assets that rightfully belong to Malaysian people’ | Malay Mail

  • 📰 malaymail
  • ⏱ Reading Time:
  • 22 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 12%
  • Publisher: 86%

United States News News

United States United States Latest News,United States United States Headlines

Finance Ministry: Goldman Sachs settlement over role in 1MDB scandal ‘represents assets that rightfully belong to Malaysian people’

Finance Minister Tengku Datuk Seri Zafrul Aziz said he was glad the case was resolved without initiating any lengthy and costly legal process, adding both parties agreeing to a settlement also meant the return of the monies can be expedited. — Bernama pic

“The settlement includes a cash payment of US$2.5 billion and a guarantee of a full recovery value of at least US$1.4 billion in assets that are traceable to the diverted proceeds from the three bond transactions,” read the statement. It also said that the agreed settlement amount was significantly higher than the US$1.75 billion that was previously offered to Malaysia under the Pakatan Harapan administration back in 2019.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 1. in US

United States United States Latest News, United States United States Headlines