SHARES in Goldman Sachs, the investment bank at the centre of the 1MDB scandal, plunged yesterday following reports that Malaysia is seeking a refund of the US$600 million (RM2.5 billion) fees it earned helping the sovereign wealth fund raise money via bond deals, Bloomberg reports.
Its shares plummeted 7.5% to seven-year lows after Finance Minister Lim Guan Eng told BFM radio that Malaysia was counting on Goldman Sachs’ “indirect” admission of culpability and US laws against kleptocracy to win its case for a fee refund.
Effective July 2018, access to full reports will only be available with a subscription. Sign-up now and enjoy one (1) week free access!
Posted 4 years ago by Watchdog Watchdog
Posted 4 years ago by Antares Maitreya