INSPECTOR-GENERAL of Police Mohamad Fuzi Harun today said he was not informed that there would be a raid on a law firm acting for Goldman Sachs in transactions related to 1Malaysia Development Bhd (1MDB).

The top cop said if a raid had indeed been conducted, it was because it was a necessary part of the police investigation.

“I am not sure about the raid at the Goldman Sachs law firm here. I was not informed but there is no problem as it it would have been held as part of the investigation,” Fuzi said when asked to comment.
 
Business daily The Edge reported today that police searched the office of Rahmat Lim & Partners this morning for documents related to three 1MDB bonds managed by the investment bank.
 
The report said the cops had a court order following the firm’s refusal to hand over documents.

The legal firm represented Goldman Sachs during the issuance of the US$6.5 billion bonds in in 2012 and 2013.

Wong & Partners, which represented 1MDB in the transactions, had handed over documents as requested by the police, said the source quoted in the report.

Goldman Sachs helped 1MDB to raise US$6.5 billion to allegedly acquire assets. For its trouble, the investment bank was paid US$600 million, which critics said was an excessive fee. – January 24, 2019.