Malaysia's new government would not be willing to accept even compensation of US$3 billion from Goldman Sachs in a settlement over the 1MDB scandal, the finance minister told Reuters, ruling out a figure that is far higher than the bank offered last year.
The Southeast Asian nation has charged Goldman Sachs and 17 current and former directors of its units for allegedly misleading investors over bond sales totaling US$6.5 billion that the U.S. bank helped raise for sovereign wealth fund 1MDB .Finance Minister Tengku Zafrul Aziz, who joined the three-month-old government from the corporate world, said he had held a conversation with Goldman Sachs representatives last month.
"If it's US$2 billion, I can say, no. US$3 billion, no," he added."As long the amount is not something we think we can accept, then we continue with the legal case."A Goldman Sachs spokesman did not immediately respond to an email seeking comment.
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