Reuters - Goldman may be asked to return $600m in fees

Money On Hook

Malaysia is considering asking the U.S. Department of Justice (DoJ) to get Goldman Sachs (GS.N) to return nearly $600 million in fees it earned from bonds raised for scandal-tainted 1Malaysia Development Berhad (1MDB), two sources familiar with the matter said on Friday.

Reuters reports that Malaysia is scrambling to bring home billions of dollars allegedly siphoned off from 1MDB, a state fund founded by ex-premier Najib Razak, who lost a general election last month.

His successor, Prime Minister Mahathir Mohamad, said Malaysia is also seeking to arrest financier Low Taek Jho, a central figure in the scandal who advised on investments and negotiated deals for 1MDB.

Malaysian authorities want to ask the DoJ, which is pursuing a corruption and money laundering probe at 1MDB, to get Goldman to disgorge profits it made from the sale of the bonds, after which Malaysia would claim the money, the two sources familiar with the matter said.

Hit the link below to access the complete Reuters article:

Malaysia considering seeking return of Goldman Sachs' 1MDB fees

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