Goldman Apology Goldman Sachs CEO David Solomon has apologized to the people of Malaysia for the involvement in the 1MDB sovereign development fund scandal of Tim Leissner, a former Goldman banker. Solomon: "It's very clear that the people of Malaysia were defrauded by many individuals, including the highest members of the prior government. Tim Leissner... a partner at our firm, by his own admission, was one of those people." Fox Business
NurPhoto via Getty Images US to recover $1 billion from Malaysian fugitive Jho Low in record deal by Reuters MORE ON: JHO LOW Prosecutors shielding ex-Goldman banker from 1MDB's financial documents Feds accuse Jho Low, Pras of funneling cash to Obama re-election campaign Ex-Goldman banker extradited to US to face 1MDB charges DOJ wants Goldman Sachs to plead guilty in bribery scandal The Justice Department has struck a deal to recoup $1 billion in funds allegedly looted from a Malaysian state investment fund by fugitive financier Jho Low, in a record capture for a US anti-corruption probe. US authorities say about $4.5 billion was siphoned from 1Malaysia Development Berhad (1MDB), founded in 2009 by then-Malaysian Prime Minister Najib Razak. Since 2016, the Justice Department, in the biggest-ever case in its anti-kleptocracy program, has filed civil lawsuits seeking to seize about $1.7 billion in assets allegedly bought with stolen 1MDB funds. Low, who called Wednesday’s agreement “historic” in a statement issued on his behalf, faces charges in both the United States and Malaysia over his central role in the scandal. Low agreed to give up a private jet, high-end real estate in Beverly Hills, New York and London, and other assets totaling $700 million, the Justice Department said in a statement and court document filed Wednesday. That’s on top of a $126 million yacht and $140 million in other assets previously forfeited. If approved, the settlement will mark the largest civil forfeiture ever concluded by the Justice Department, it said. “The message in this case is simple: The United States is not a safe haven for pilfered funds,” said US Attorney Nicola T. Hanna of the Central District of California. The deal does not include an admission of guilt or wrongdoing and is not tied to the criminal action against Low. “I am very pleased to confirm that a landmark comprehensive, global settlement has been reached with the United States government,” Low said in the statement. Malaysia’s Prime Minister Mahathir Mohamad said Malaysia will file a claim on the forfeited assets. “The assets were bought with Malaysian money, we have proof that it was Malaysian money, we will now make a claim with the American government,” he told reporters Thursday. In May, the United States began returning $200 million to Malaysia, following the sale of 1MDB-linked assets. 1MDB is the subject of corruption and money-laundering investigations in at least six countries. Malaysian police last year filed charges and issued arrest warrants for Low and several of his associates, whose whereabouts are unknown. Low has consistently denied wrongdoing. Asked about any negotiations with other parties, a spokesman for his lawyers reiterated their previous stand on the issue: “If and when Mr. Low is confident that he will be safe and treated fairly, he looks forward to addressing any remaining issues.” Low has, however, said he does not expect to get a fair deal in Malaysia as long as Mahathir is in power.
Corruption in Malaysia Read in another language Watch this page Edit According to a 2013 public survey in Malaysia by Transparency International, a majority of the surveyed households perceived Malaysian political parties to be highly corrupt.[1] A quarter of the surveyed households consider the government's efforts in the fight against corruption to be ineffective.[1] Transparency International's 2017 Corruption Perception Index ranks the country 62nd place out of 180 countries.[2] Business executives surveyed in the World Economic Forum's Global Competitiveness Report 2013-2014 reveal that unethical behaviours of companies constitute a disadvantage for doing business in Malaysia.[3] Government contracts are sometimes awarded to well-connected companies, and the policies of awarding huge infrastructure projects to selected Bumiputera companies without open tender continue to exist.[4] And more....... https://en.m.wikipedia.org/wiki/Corruption_in_Malaysia