Regional Outlook, Global Perspective

MALAYSIA SEEKS FULL REFUND FROM GOLDMAN SACHS OVER 1MDB

Quoting Malaysia’s Finance Minister Lim Guan Eng, Bloomberg reported on Monday that the Pakatan Harapan government was seeking a full refund of all the fees it paid to Goldman Sachs for arranging billions of dollars worth of deals for troubled state fund 1Malaysia Development Berhad (1MDB).  Clare Rewcastle Brown, who first broke the 1MDB scandal through her website, the Sarawak Report, said that professionals “under the guise” of bankers, offshore incorporators ad media specialists are helping corrupt individuals get their money. A US documentary on Malaysia’s 1MDB corruption scandal premiered at the 2018 DOC NYC festival over the weekend. Like the Billion Dollar Whale book, the documentary puts added emphasis on the role of fugitive financier Low Taek Jho in the corruption scandal spanning at least 10 countries.

13/11/2018 in Daily Briefs, Malaysia, Regions

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