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Malaysia lets Goldman decide how much to pay

KUALA LUMPUR (Feb 1): The Malaysian government will let Goldman Sachs Group Inc decide how much to pay of the US$7.5 billion (RM30.8 billion) that the country is seeking for the bank’s role in the 1Malaysia Development Bhd (1MDB) scandal, according to a Bloomberg report.

*Goldman Sachs could be liable for US$5b in 1MDB scandal — report

*Goldman Sachs CEO apologises to Malaysia over 1MDB

*Cops meet with Goldman Sachs' M'sian law firm

The report was quoting Tony Pua, political secretary to Finance Minister Lim Guan Eng, who was speaking to reporters here yesterday. If Malaysia decides that Goldman is paying too little, then the government will look to the court to decide on the compensation amount, the report said.

The country filed criminal charges against the bank in December, the first such charges for Goldman. In mid-January, Guan Eng was quoted as saying that the government may consider a discussion to absolve the bank of blame for its role in the 1MDB scandal for US$7.5 billion.  — theedgemarkets.com

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