Malaysia has rejected an offer from Goldman Sachs of less than $2 billion in com...
) of less than $2 billion in compensation over the 1MDB scandal, Prime Minister Mahathir Mohamad told the Financial Times on Friday, compared with its publicly stated demand of $7.5 billion.
The Southeast Asian nation has charged Goldman and 17 current and former directors of its units for allegedly misleading investors over bond sales totalling $6.5 billion that the U.S. bank helped raise for sovereign wealth fund 1Malaysia Development Bhd . Goldman declined to comment to the FT. The bank did not immediately respond to a Reuters request for comment. Goldman said last month it was in discussions with authorities on the possibility of a resolution of investigations relating to 1MDB.U.S. authorities say about $4.5 billion was siphoned from 1MDB, founded in 2009 by then-Malaysian Prime Minister Najib Razak. The scandal helped Mahathir hand a surprise defeat to Najib in a general election last year.
Low has consistently denied wrongdoing and says he does not expect a fair trial in Malaysia as long as Mahathir is in power.
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