PUTRAYAJAYA, Malaysia | Malaysia says Goldman Sachs must pay, apology not enough

18Jan - by Editor - 0 - In STL.News

PUTRAYAJAYA, Malaysia—Jan 18, 2019—Malaysia’s Finance Minister Lim Guan Eng said Friday that an apology by Goldman Sachs for its role in the alleged multibillion-dollar ransacking of state investment fund 1MDB was insufficient and that it must pay $7.5 billion as compensation.

Goldman CEO David Solomon apologized Wednesday to the Malaysian people for its former banker Tim Leissner’s role in arranging bond sales for 1MDB. Those sales provided a means for associates of former Malaysian Prime Minister Najib Razak to allegedly steal billions over several years from the fund.

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