Goldman offered $241m to settle 1MDB, says Malaysia PM Mahathir

The Goldman Sachs Group Inc. logo is displayed in the reception area of the One Raffles Link building, which houses one of the Goldman Sachs (Singapore) Pte offices, in Singapore, on Saturday, Dec. 22, 2018. Photographer: Nicky Loh/Bloomberg

Goldman Sachs Group Inc. offered Malaysia 1 billion ringgit ($241 million) as compensation for the role it played in raising funds for 1MDB that were later allegedly misappropriated, Prime Minister Mahathir Mohamad said, calling the amount “little” compared with the “huge killing” that the bank made.

A reasonable sum would amount to the commission that the Goldman received in raising $6.5 billion of bonds for 1MDB, Mahathir said at the Bloomberg Asean Business Summit in Bangkok on Friday. Goldman earned about $593 million for its work on the 1MDB debt sales, which exceeded what banks typically make from government deals.

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