December 20, 2019

Goldman Officers May See Trial as Malaysia Pursues 1MDB Case
(Bloomberg) -- Malaysia’s top prosecutor said he’s ready to ratchet up a criminal case against Goldman Sachs Group Inc. for its role in the 1MDB affair by bringing executives of the U.S. bank to court, as the two sides remain far apart following several rounds of settlement talks.When the time is right, Malaysia will press ahead with the prosecution of more than a dozen current and former Goldman Sachs directors “because we need them in the dock,” Attorney General Tommy Thomas said in a Friday interview. “The 17 directors committed crime in Malaysia, which is why they are being charged, so there is no reason why we are not going against them.”Thomas is leading Malaysia’s criminal case against Goldman Sachs, which was launched last year when charges were laid against three of the bank’s units. In August, Malaysia announced additional charges against 17 former and current directors, including Vice Chairman Richard J. Gnodde, who heads its international business in London, and and J. Michael Evans, a former partner who’s now president of Alibaba Group Holding Ltd.Malaysia has had two or three rounds of negotiations with Goldman Sachs, and remains open to further talks, Thomas said. But a settlement remains distant, he added.“There is still a Pacific Ocean gulf between Malaysia and Goldman Sachs,” he said. “But as far as we’re concerned, the door to settlement is always open. They know where we are, they can come and see us if they want to find us.”Representatives for Goldman Sachs and Alibaba declined to comment.Read how Malaysia’s 1MDB scandal shook the financial worldThomas’s comments contrast with recent reports that Goldman Sachs is making progress in talks with U.S. and Malaysian authorities to put the 1MDB scandal behind it. The bank is said to be negotiating with the U.S. for a $2 billion settlement that would include an admission of guilt by a unit in Asia. A figure of at least $2 billion has been floated in the settlement talks with Malaysia, Bloomberg reported earlier this month.Thomas said he didn’t have direct knowledge of the progress of the U.S. settlement talks. But he said Malaysia had heard from contacts at the U.S. Justice Department that a resolution remains “very far away.” Any agreements struck with the U.S. or other jurisdictions won’t affect the prosecution in Malaysia, he added.Seeking CompensationInstead, Thomas said he’s focused on preparing to prosecute Goldman’s units and directors in a trial which he expects to start in the middle of next year. He echoed Prime Minister Mahathir Mohamad in saying Malaysia will seek compensation from Goldman Sachs that includes the $6.5 billion value of bonds the bank arranged for 1MDB, as well as interest. That totals $8 billion to $9 billion, he said.At a hearing on Monday in Kuala Lumpur, the case against two of the three Goldman Sachs units facing charges was moved to the Malaysian High Court.“We prepare for the trial, and if there is settlement talks, we can do it simultaneously,” Thomas said in the interview at his office in Malaysia’s administrative capital of Putrajaya.Thomas’s appointment last year was part of Malaysia’s revived probe of the 1MDB scandal, which has also resulted in former premier Najib Razak standing trial on corruption charges. The state-owned fund, whose full name is 1Malaysia Development Bhd., is looking into claims against other banks, accountants, lawyers and subsidiary players who may also be involved in the scandal, Thomas said.Those cases could extend beyond Thomas’s two-year term, which is set to end in June 2020. He said he hasn’t decided whether he would seek to extend his stay.“I am happy with two years in the government, but I am happy to go back to the private sector,” Thomas said.(Updates with more details in 12th paragraph)\--With assistance from Anisah Shukry and Elffie Chew.To contact the reporters on this story: Yantoultra Ngui in Kuala Lumpur at yngui@bloomberg.net;Yudith Ho in Kuala Lumpur at yho35@bloomberg.net;Sophie Kamaruddin in Hong Kong at skamaruddin2@bloomberg.netTo contact the editors responsible for this story: Marcus Wright at mwright115@bloomberg.net, Ruth PollardFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Latest News
Top news around the world
Coronavirus Disease

Coronavirus disease (COVID-19) is an infectious disease caused by a newly discovered coronavirus.

Most people infected with the COVID-19 virus will experience mild to moderate respiratory illness and recover without requiring special treatment. Older people, and those with underlying medical problems like cardiovascular disease, diabetes, chronic respiratory disease, and cancer are more likely to develop serious illness.

Around the World

Celebrity News

> Latest News in Media

Watch It
See Chris D’Elia's Beverly Hills mansion amid scandal | Page Six Celebrity News
June 23, 2021
WFQg3MTPMfA
Dana Wilkey: Lisa Vanderpump ‘was the coldest’ on ‘RHOBH' | Page Six Celebrity News
June 23, 2021
3O8fn1Kp5d0
The 10 biggest bombshells from the 'KUWTK' reunion | Page Six Celebrity News
June 22, 2021
fSMhfxmcJEk
Jen Says F Dating Apps, Pastor Affair & Netflix's "Sexy Beasts"
June 23, 2021
smSSxaKdOuk
Miley Cyrus Concert Peek & TikTok Love Connections
June 23, 2021
A5Zyeme34GQ
Britney Spears Hearing: Justin Timberlake & More React | E! News
June 23, 2021
WXBY__8goYg
'Karen' Director Coke Daniels Scoffs at Idea He Ripped Off 'Get Out' | TMZ
June 24, 2021
Sp3iYbLsWIs
#FreeBritney Supporters Gather Outside Court to Show Their Support | TMZ
June 23, 2021
-HVwuDWG9nQ
Blueface Tells 'Real Story' of How He Bought a Restaurant | TMZ
June 23, 2021
jGMCmR1UiLY
How 'A Black Lady Sketch Show' Used Biblical Undertones to Craft 'The Last Supp-her' Sketch
June 23, 2021
XpvK4pC0Mgk
Scooter Braun, Variety's Music Mogul of the Year, Answers Fan Questions
June 22, 2021
kOjePEsJ2qY
How 'The Queen's Gambit's' Costume Designer Made Outfits Fit for a Chess Queen
June 22, 2021
18ncQSIcx5M
TV Schedule
Late Night Show
Watch the latest shows of U.S. top comedians

Sports

Latest sport results, news, videos, interviews and comments
Latest Events
19
Nov
ASIAN CHAMPIONS LEAGUE: Group H
Sydney FC - Shanghai SIPG
17
Nov
UEFA NATIONS LEAGUE A: Group Stage
Spain - Germany
14
Nov
UEFA NATIONS LEAGUE A: Group Stage
Germany - Ukraine
08
Nov
ENGLAND: Premier League
Manchester City - Liverpool
08
Nov
ENGLAND: Premier League
Arsenal - Aston Villa
08
Nov
SPAIN: La Liga
Valencia - Real Madrid
08
Nov
ITALY: Serie A
AC Milan - Verona
08
Nov
ENGLAND: Premier League
West Bromwich Albion - Tottenham Hotspur
08
Nov
ITALY: Serie A
Bologna - Napoli
08
Nov
ITALY: Serie A
Genoa - Roma
08
Nov
ITALY: Serie A
Atalanta - Inter Milan
08
Nov
ITALY: Serie A
Lazio - Juventus
08
Nov
GERMANY: Bundesliga
Bayer Leverkusen - Borussia Monchengladbach
08
Nov
ENGLAND: Premier League
Leicester City - Wolves
08
Nov
GERMANY: Bundesliga
Wolfsburg - Hoffenheim
08
Nov
SPAIN: La Liga
Real Valladolid - Athletic Bilbao
08
Nov
SPAIN: La Liga
Levante - Alaves
08
Nov
SPAIN: La Liga
Real Sociedad - Granada CF
08
Nov
ITALY: Serie A
Torino - Crotone
08
Nov
SPAIN: La Liga
Getafe - Villarreal
07
Nov
GERMANY: Bundesliga
Borussia Dortmund - Bayern Munich
07
Nov
ENGLAND: Premier League
Everton - Manchester United
07
Nov
ENGLAND: Premier League
Chelsea - Sheffield United
07
Nov
SPAIN: La Liga
Atletico Madrid - Cadiz
07
Nov
SPAIN: La Liga
Barcelona - Real Betis
07
Nov
GERMANY: Bundesliga
Augsburg - Hertha Berlin
07
Nov
GERMANY: Bundesliga
Stuttgart - Eintracht Frankfurt
07
Nov
GERMANY: Bundesliga
RB Leipzig - SC Freiburg
07
Nov
ENGLAND: Championship
Rotherham - Preston NE
07
Nov
ITALY: Serie A
Parma - Fiorentina
07
Nov
ENGLAND: Championship
Watford - Coventry
07
Nov
ENGLAND: Championship
Norwich City - Swansea City
07
Nov
ENGLAND: Championship
Blackburn - QPR
07
Nov
ENGLAND: Championship
Derby County - Barnsley
07
Nov
ENGLAND: Championship
Huddersfield - Luton
07
Nov
ENGLAND: Championship
Nottingham Forest - Wycombe Wanderers
07
Nov
ENGLAND: Premier League
West Ham United - Fulham
07
Nov
ENGLAND: Championship
Sheffield Wednesday - Millwall
07
Nov
ENGLAND: Championship
Brentford - Middlesbrough
07
Nov
ENGLAND: Championship
Birmingham - Bournemouth
07
Nov
SPAIN: La Liga
Sevilla - Osasuna
07
Nov
ITALY: Serie A
Benevento - Spezia
07
Nov
ENGLAND: Premier League
Crystal Palace - Leeds
04
Nov
CHAMPIONS LEAGUE: Group stage, Group G
Ferencvaros - Juventus
04
Nov
CHAMPIONS LEAGUE: Group stage, Group G
Barcelona - Dynamo K.
03
Nov
CHAMPIONS LEAGUE: Group stage, Group A
Salzburg - Bayern Munich
03
Nov
CHAMPIONS LEAGUE: Group stage, Group D
Atalanta - Liverpool
Find us on Instagram
at @feedimo to stay up to date with the latest.
Featured Video You Might Like
zWJ3MxW_HWA L1eLanNeZKg i1XRgbyUtOo -g9Qziqbif8 0vmRhiLHE2U JFCZUoa6MYE UfN5PCF5EUo 2PV55f3-UAg W3y9zuI_F64 -7qCxIccihU pQ9gcOoH9R8 g5MRDEXRk4k
Copyright © 2020 Feedimo. All Rights Reserved.