AG in talks to drop criminal charges against Goldman

AG in talks to drop criminal charges against Goldman

Malaysia is seeking US$3.3. billion in fines and compensation from the US bank over its alleged role in helping Jho Low.

AG Tommy Thomas says it is in talks with Goldman Sachs ahead of a criminal trial next week. (Bloomberg pic)
KUALA LUMPUR:
Malaysian authorities have been in talks with Goldman Sachs to drop criminal charges against three subsidiaries of the bank in connection with the 1MDB scandal, Attorney-General Tommy Thomas said.

He told the Nikkei Asian Review “preliminary meetings” were held

“But the gulf is still very wide.

“Both the criminal charges and settlement negotiations are happening in parallel. They are not mutually exclusive.”

Putrajaya is seeking US$3.3 billion in compensation from the US bank, accusing it of helping fugitive business Low Taek Jho to loot 1MDB.

Investigators say about US$4.5 billion was misappropriated from 1MDB.

In December, Malaysia filed charges against Goldman Sachs (Asia) LLC, Goldman Sachs International (UK) and Goldman Sachs (Singapore), and is seeking US$2.7 billion in fines and the return of US$600,000.

Thomas said negotiations with Goldman could continue until the first day of the trial, due on Oct 22.

“We can always reach a settlement on the first day of the trial. A lot of cases are even settled even after the trial begins. So the doors for discussion are still open while the prosecution readies the criminal case.”

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