Will Malaysia continue its lawsuit against Goldman Sachs for 1MDB funds?

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Malaysia to Continue Legal Action Against Goldman Sachs Over 1MDB Funds

The federal government will proceed with its legal action against Goldman Sachs Group Inc. to recover funds lost in the 1Malaysia Development Berhad (1MDB) scandal. There are currently no discussions underway with the banking giant, but the legal process initiated by the attorney-general will continue.
Ongoing Legal Proceedings

Finance Minister Lim Guan Eng confirmed that the government's legal pursuit of Goldman Sachs remains active. This stance is being maintained despite statements from Goldman Sachs indicating a willingness to assist Malaysia in recovering stolen money. The minister clarified that while the firm may be attempting to help, there have been no direct conversations or negotiations between the two parties regarding the matter.
Demand for Commission Repayment

Last year, the Malaysian government, through the Finance Minister, formally demanded that Goldman Sachs return US$588 million (RM2.4 billion). This sum represents the commissions the banking firm received for its role in raising US$6.5 billion in bonds for 1MDB during 2012 and 2013. The government views these commissions as excessive and related to transactions linked to the scandal.
Criminal Charges Filed

In addition to civil action, Malaysia has also initiated criminal proceedings against several current and former directors of Goldman Sachs. These charges stem from their alleged involvement in the 1MDB scandal. Notable figures named in connection with these charges include Goldman Sachs International chief executive officer Richard Gnodde and Michael Evans, a former director at Goldman Sachs (Asia) LLC and now president of Alibaba Group Holding Ltd.

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Will Malaysia continue its lawsuit against Goldman Sachs for 1MDB funds?

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