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PUTRAJAYA (BLOOMBERG, THE NEW STAR / ASIA NETWORK) – The excuses of Goldman Sachs Group Inc. are not great for Malaysia, who said she could consider a discussion to clear the bank of its responsibility in the 1MDB scandal for the United States. $ 7.5 billion ($ 10.2 billion Singapore).
The country has initiated criminal proceedings against the lender in December, the first for Goldman, and could discuss the abandonment of these allegations if the bank pays the sum, Finance Minister Lim Guan Eng told reporters this Friday, January 18th.
Malaysia alleges that Goldman misled investors in the three bond sales it had arranged for 1MDB, or 1Malaysia Development Bhd, knowing that the money raised would be diverted. Units of the bank were accused of making false statements in documents submitted to a local regulator by arranging bond offerings in the amount of US $ 6.5 billion. for 1MDB, of which at least 2.7 billion were stolen.
"Goldman Sachs should understand the agony and trauma suffered by the Malaysian people as a result of the 1MDB scandal," Lim said in the administrative capital of Putrajaya. "Excuses are not enough. Not enough. There must be the necessary repairs and compensation. "
Goldman chief executive David Solomon this week apologized to the Malaysian people for the role played by senior banker Tim Leissner in the 1MDB scandal. The country has been "scammed by many people," including Leissner "one of those people," Solomon said during a conference call with badysts after the investment bank announced its results on Wednesday. .
Leissner has pleaded guilty to conspiracy charges for money laundering, while another former Goldman banker, Roger Ng, is still being held in Malaysia while he may be in danger. extradited to the United States to face charges.
Solomon reiterated that the firm had exercised considerable due diligence with respect to the transactions and that Leissner had lied to him. Appearing on his first call for results since his appointment as CEO in October, Solomon said the firm was cooperating with the US Department of Justice and the investigation was still open.
Goldman said he would defend himself vigorously against the charges brought by Malaysia.
The allegations against Goldman have been filed by Attorney General Tommy Thomas, the country's first attorney, while the Minister of Finance is not officially allowed to make decisions on criminal charges.
"At least he agreed that they must badume some responsibility," said Lim, referring to Solomon. "These excuses obviously go in that direction, but that's not enough."
In comparison, Lim said that former Prime Minister Najib Tun Razak refused to admit that Malaysians had suffered huge losses because of the scandal.
After Solomon's apology, Najib said Thursday that Goldman should shoulder his responsibilities if he did not take care of 1MDB's interests.
Lim, the finance minister, said Goldman's apology would not have even surfaced if no change in government had occurred.
Najib was Malaysia's finance minister and head of the 1MDB advisory committee, which reports to the Ministry of Finance. Prosecutors claimed that billions of dollars had been siphoned into the personal accounts of Najib, other officials and a flamboyant Malaysian financier known as Jho Low.
The 1MDB scandal erupted in public view in 2015 and led to Najib's election defeat last year.
Mr. Lim asked if Najib would always insist that 1MDB benefit Malaysians and continue to try to avoid taking responsibility.
"Without the fact that there has been a change of government, do you think Goldman Sachs will apologize?" Said Lim.
"Or will he be prosecuted and their main partners charged?
"So, when will Najib apologize, other than facing the charges in court?"
"It's worse for a former prime minister for not admitting that something was not going at all and that it was the biggest financial corruption scandal of all." history, "said Mr. Lim.
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