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Malaysia questions Goldman Sachs lawsuit over 1MDB settlement, saying it’s premature

KUALA LUMPUR, Malaysia (AP) — The Malaysian government has questioned a move by Goldman Sachs to file for arbitration in a dispute connected with the multibillion-dollar looting of a sovereign wealth fund. Johari Abdul Ghani, head of a task force to recover assets lost from fund known as 1MDB, said it was too early for arbitration since talks are still underway to resolve the conflict. Under a 2020 deal, Goldman Sachs paid Malaysia $2.5 billion to resolve charges that it was involved in a massive scheme to launder money from the fund. It also promised to help recover $1.4 billion in 1MDB assets. Johari accused the bank of trying to shift attention from its payment obligations.

Article Topic Follows: AP-National

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