Why is Goldman Sachs suing Malaysia over 1MDB scandal?


The United States investment bank Goldman Sachs has sued Malaysia in a London arbitration court amid rising tension over a settlement deal reached in connection with the bank’s role in the multibillion-dollar corruption scandal at state fund 1MDB.

Three years ago, New York-based Goldman Sachs agreed to pay $3.9bn to settle Malaysia’s criminal probe over the bank’s role in the scandal.

But the deal has been mired in disputes and this week Goldman filed for arbitration at the London Court of International Arbitration.

On Thursday, Malaysia’s 1MDB task force chairman Johari Abdul Ghani described the bank’s move to arbitration as “premature”, because the “parties are still considered to be in the amicable good faith discussions stage”.

Click for the full article at Al Jazeera

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