Reported by Rocio Fabbro

Goldman Sachs agreed to pay Malaysia $3.9 billion in July 2020 to settle a money laundering scheme involving its bankers, Malaysia’s new Prime Minister Anwar Ibrahim says it wasn’t enough.

In 2018, Malaysian prosecutors sued the investment bank, accusing bankers of helping to raise billions of dollars for 1Malaysia Development Berhad, known as 1MDB. The funds were part of an international money laundering scheme involving major financial institutions in the United States, Switzerland, Singapore, Luxembourg and others.

“We’ll have to reopen this negotiations with Goldman Sachs, because they were complicit to the crime,” Anwar, who was took office in November, said in an interview with CNBC’s Martin Soong, which will air later this week. “Unfortunately, they have not been too forthcoming. And we will therefore have no choice but to pursue this.”

Read full report: https://themessenger.com/business/goldman-sachs-could-be-in-trouble-again-over-its-malaysian-money-laundering-settlement