AUGUST 2 — The Malaysian government must justify that it was not duped by Goldman Sachs, widely credited as securing a good deal for the USD2.5 billion cash settlement, instead of USD 7.5 billion, to defraud 1MDB together with Malaysian leaders and their cronies. The international financial world...
Government must show us how it was not duped by Goldman Sachs, when accepting US$2.5b instead of US$7.5b — Lim Guan EngAUGUST 2 — The Malaysian government must justify that it was not duped by Goldman Sachs, widely credited as securing a good deal for the USD2.5 billion cash settlement, instead of USD 7.5 billion, to defraud 1MDB together with Malaysian leaders and their cronies.
Former Prime Minister Datuk Seri Najib Tun Razak was sentenced on 28 July 2020 by the High Court to 12 years in jail and RM210 million in fines, after finding him guilty of all seven charges on money laundering, abuse of power and criminal breach of trust in the case involving RM42 million of funds deposited in his personal accounts from a former unit of troubled state fund 1MDB.
To forgo the initial USD 7.5 billion claim with only USD 3.9 billion ignores the huge debt burden of 1MDB. The total 1MDB debt outstanding guaranteed by the Government is RM 31.7 billion ringgit. If the remaining interest payments till 2038 are included, the amount would increase to RM 41.5 billion. This sum excludes the RM8.9 billion which have already been paid by the Government. This would bring the total cost of 1MDB to the country, including interest of the 1MDB debts, to RM 50.4 billion.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Why drop criminal charges against Goldman Sachs, asks Guan Eng | The Malaysian InsightEx-finance minister slams US$2.5 billion cash settlement, accusing 1MDB banker of duping Malaysians.
Read more »
Kita dapat tawaran lebih baik dalam penyelesaian Goldman Sachs | The Malaysian InsightTengku Zafrul Tengku Abdul Aziz berkata Goldman Sachs akan membayar RM10.8 bilion dengan baki AS$1.4 bilion jaminan aset.
Read more »
We got better deal on Goldman Sachs settlement, says Tengku Zafrul | The Malaysian InsightUS$2.5 billion cash better than none, as court case could drag on, finance minister tells The Edge.
Read more »
Kyrgios pulls out of US Open, pleads with players not to be ‘selfish’ | Malay MailSYDNEY, Aug 2 — An emotional Nick Kyrgios pulled out of the US Open today, for “the hundreds of thousands of Americans who have lost their lives”, while pleading with players who attend to not be selfish and act responsibly. His decision follows fellow Australian and world number one Ashleigh...
Read more »
Why drop criminal charges against Goldman Sachs, asks Guan Eng | The Malaysian InsightEx-finance minister slams US$2.5 billion cash settlement, accusing 1MDB banker of duping Malaysians.
Read more »
Amid pandemic, mopeds have a moment in car-loving US | Malay MailNEW YORK, Aug 2 — Long associated with narrow, cobbled streets in Europe and congested Asian megacities, scooters are now becoming a common sight in car-loving America as commuters shun public transport because of the coronavirus pandemic. New Yorkers turned to the turquoise-blue rental mopeds of...
Read more »