KUALA LUMPUR: Senior executives of Goldman Sachs have flown in to Malaysia for talks with the government on the recovery of 1Malaysia Development Berhad assets, Malaysia's finance minister said on Monday .
"We hope these discussions will prove to be fruitful and will enable us to move closer towards achieving the desired results on the recovery of 1MDB assets,” he said. US and Malaysian authorities say about US$4.5 billion was stolen from 1MDB in an elaborate scheme that spanned the globe and implicated former Malaysian prime minister Najib Razak and US bank Goldman Sachs, among others.Najib has denied wrongdoing. In February, three units of Goldman Sachs pleaded not guilty in a Malaysian court to charges of misleading investors regarding US$6.5 billion in bond sales the US investment bank helped raise for 1MDB.
High court judge Mohd Nazlan Mohd Ghazali imposed a temporary freeze on the funds in Britain held by PetroSaudi, which has links to the Saudi royal family, pending the outcome of an Aug 28 hearing on an application by Malaysian prosecutors seeking an order to prohibit the company and four others from accessing it.
Source: News Formal (newsformal.com)
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