Malaysia
Offer Putrajaya settlement if you’re sorry, Kit Siang tells Goldman Sachs
Malay Mail

KUALA LUMPUR, Nov 15 — Goldman Sachs chief executive David Solomon should offer an acceptable settlement if he genuinely feels "horrible” for the role it played in facilitating the 1MDB scandal, DAP stalwart Lim Kit Siang said today.

"If Goldman Sachs is genuine and sincere in its contrition about Goldman Sach’s ‘horrible’ crime in facilitating the 1MDB scandal,” the Iskandar Puteri MP said in a statement.

"Then the Wall Street titan should contact the Malaysian government to offer an acceptable settlement for its criminal facilitation of the 1MDB ‘kleptocrtacy at its worst’.”

Speaking in Singapore last week, Solomon said he felt "horrible” that two of the investment bank’s former employees had "blatantly broke the law” in their dealings with Malaysian state fund 1Malaysia Development Berhad.

"It is obviously very distressing to see two former Goldman Sachs employees went so blatantly around our policies and so blatantly broke the law,” Solomon was reported saying.

"I feel horrible about the fact that people who worked at Goldman Sachs, and it doesn’t matter whether it’s a partner or it’s an entry level employee, would go around our policies and break the law.”

The two are former bankers Tim Leissner and Roger Ng. The former is now co-operating with US authorities while Ng, currently detained here, could be extradited.

But Lim questioned if the Goldman Sachs chief executive was sincere, saying it was "worth a thought” as to whether Solomon would have made the statement if the scandal was kept hidden.

"It is worth a thought as to whether the Goldman Sachs executive would have reached such a ‘horrible’ conclusion,” Lim asked.

"If the people of Malaysia had not made the historic decision in the 14th General Election on May 9, 2018 to topple Datuk Seri Najib Razak from power.”

Goldman helped raise more than US$2.5 billion in bonds for 1MDB, the money which was later misappropriated by high-level 1MDB officials, their relatives and associates

In the process, Goldman earned almost a "jaw-dropping” US$600 million for the three deals, amount of close to 10 per cent and far in excess of the normal fees a bank typically charge for helping sell bonds. 

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