LGE to Goldman Sachs: Sorry no cure, just pay back US$7.5bil

PUTRAJAYA: A mere apology from Goldman Sachs over the involvement of its former banker in the scandal riddled 1Malaysia Development Bhd (1MDB) is insufficient, says Lim Guan Eng.

The Finance Minister said an apology that came with US$7.5bil (RM30.8bil) was what mattered, and if Goldman Sachs followed up its apology with that payment, Malaysia would consider dropping charges against the investment bank.

"US$7.5bil...we can discuss lah," he quipped.

Goldman Sachs Group Inc CEO David Solomon apologised to Malaysians on Thursday (Jan 17) for the involvement of its former banker Tim Leissner's role in 1MDB.

"At least, he accepted that they have to bear and shoulder some responsibility.

"That apology, of course, go someway towards that, but that is, of course, insufficient. Necessary but not sufficient," Lim told reporters, adding that only when reparations and compensations were paid would the situation be sufficiently remedied.

Lim said the investment bank should understand the agony and trauma suffered by Malaysians because of the 1MDB.

He said if had not been for a change in government, Goldman Sachs, one of the largest investment banks in the world, would not even apologise.