Goldman Sachs deal premature as 1MDB losses still burden Malaysians, says Anwar

PETALING JAYA: The government's settlement with Goldman Sachs over the investment banking company's role in the 1MDB scandal is premature, says Datuk Seri Anwar Ibrahim.

The Opposition leader said the settlement failed to take into account the level of losses that Malaysians had experienced.

“On Goldman Sachs’ apparent involvement in this ‘scam’, I reiterate my position that the settlement between the Malaysian Government and Goldman Sachs in 2020 was premature and failed to consider the losses that Malaysians will continue to bear,” he said in a Facebook post on Monday (April 11).

Last Friday (April 8), former Goldman Sachs banker Roger Ng was convicted in the United States of conspiring to violate anti-bribery laws and laundering money.

He now faces a prison term of up to three decades.

Ng, formerly Goldman Sachs Group Inc’s head of investment banking in Malaysia, had been locked up for six months in Kuala Lumpur when he agreed to waive an extradition fight and travel to Brooklyn, New York in US custody.

On his arrival, he was released on a US$20mil bond and had to wear an electronic ankle bracelet while he awaited trial.

Following the verdict on Friday, he was allowed to remain free pending sentencing.

Anwar added that it was wrong to claim that justice had been upheld although Ng had been convicted.

“To mention that justice has been upheld is very dishonest.

“The statements of the witnesses throughout this trial only revealed the faults and roles of many people.

“Senior Goldman Sachs officials involved in the 1MDB scandal cannot escape their negligence as well as the damage and loss caused to Malaysia,” he said.

However, alleged mastermind Jho Low, who the United States says bribed government officials to win the business for Goldman – and a US$1.42bil jackpot for himself – remains at large.

Meanwhile, Anwar said that there had been many assurances by the authorities that Low and his collaborators would be arrested.

“However, so far it has not (happened).

“They were still moving freely in Malaysia for many years until a few days before the last general election.

“How many opportunities have been missed to bring these conspirators to justice?” he asked, adding that he will not remain silent as long as those at fault did not appear in a Malaysian court.