Rally rally rally

Apandi should be called to account.

Please stop giving credence to blaming everything on Jho Low. Najib was a willing partner. As Prie\me Minister & Finance minister it beggars belief that he was ignorant. The fact is he was not and besides ignorance is no defence.

One just needs to look at his tax bills - fantastic income & expenditure on a Prime Minister's salary!

Malaysian prosecutors filed charges in December 2018 against three of the bank’s units alleging it misled investors.

Goldman has said that certain members of the former Malaysian government and 1MDB lied to it about how proceeds from the bond sales would be used.

MALAYSIA VICTORY
The settlement is the biggest Malaysia has reached so far in its efforts to recover funds allegedly stolen from 1MDB, and is a big victory for the four-month old administration of Malaysian Prime Minister Muhyiddin Yassin.

“We are confident that we are securing more money from Goldman Sachs compared to previous attempts, which were far below expectations,” Finance Minister Tengku Zafrul Aziz said in a statement.

U.S. prosecutors said the money was used to buy artwork, including paintings by Vincent Van Gogh and Claude Monet, luxury properties and to fund the “Wolf of Wall Street” movie.

Goldman helped the fund raise $6.5 billion in two bond offerings, earning itself $600 million in fees, according to the U.S. Justice Department.

In recent years, the Justice Department has pledged to take into account parallel settlements when calculating corporate penalties. A source told Reuters in December that Goldman was in talks with the U.S. government and a state regulator to possibly pay up to $2 billion to resolve the investigation.

“If past major foreign corrupt practice cases are a good indicator (which we think they are), the DOJ settlement could wipe out most of the great second quarter they just put up,” wrote Evercore ISI analyst Glenn Schorr on Friday.

Malaysian and U.S. authorities estimate $4.5 billion was stolen from 1MDB in an elaborate scheme that spanned the globe and implicated high-level officials in the fund, former Malaysian Prime Minister Najib Razak, Goldman staff and others.

Goldman had socked away around $3 billion in reserves for legal matters, more than covering the settlement with Malaysia.

It remained unclear whether the bank has put aside enough cash to cover a potential settlement with the Justice Department, which is reportedly looking at whether the bank violated the U.S. Foreign Corrupt Practices Act. The FCPA bars U.S. companies from paying foreign government officials for help in getting or keeping business.

“We still do not know how this will impact negotiations with the US regulators, but we expect some relief to be extended to Goldman given DOJ guidance to avoid ‘piling on’,” Chubak wrote.

The deal includes a $2.5 billion cash payout by Goldman and its guarantee to return at least $1.4 billion in proceeds from assets linked to sovereign wealth fund 1Malaysia Development Bhd (1MDB), the two sides said.

In return, Malaysia will drop all criminal charges against the bank, which had pleaded not guilty and consistently denied wrongdoing.

“We are pleased to have reached an agreement in principle with the Government of Malaysia to resolve outstanding charges and claims against Goldman Sachs,” the bank said in a statement. “Today’s settlement is an important step towards putting the 1MDB matter behind us.”

Goldman Sachs shares rose 0.68% in New York morning trading on the Malaysia news and signals the U.S. Department of Justice could be near closing a similar probe.

A spokesman for the Justice Department declined to comment.

“We view this as positive as GS is closer to removing a key overhang for investors, and this provides added comfort that the total settlement amount should be manageable,” wrote Steven Chubak, an analyst at New York-based Wolfe Research.

KUALA LUMPUR/NEW YORK (Reuters) - Goldman Sachs will pay $3.9 billion to settle Malaysia’s criminal probe over the U.S. investment bank’s role in the multibillion-dollar 1MDB scandal, closing a key front in the multi-jurisdictional investigation that has hung over Goldman.

Goldman Sachs and Malaysia agree to $3.9 billion settlement over 1MDB scandal
U.S. settlement seen close

"it proposed to fine Astro to save the satellite TV provider from being prosecuted in court."

WHy such an intention to "SAVE" a perpetrator of crime by govt agency?

This shows how deep the relationship is between Govt agencies and Privately profitable ventures!

Let ASTRO, which is said to be controlled by Ananda Krishnan prove it in court of it's innocence!

Power!

Hosei liao, business jalan!

Good new from Scrown

House speaker Azhar Azizan ‘Art’ Harun said: "In the UK, Parliament is supreme, but in Malaysia the powers (judiciary, legislature and executive) are equal.”

Exactly, Azhar. When you are "equal", why would you write to Judge Collin Lawrence Sequerah trying to "request" or impress on him the "importance" of Parliament and interfere in the court process involving a critical case that has great public and global interest?

In future, can the court also rightfully write to the speaker of Parliament to "request" to postpone or end Parliament sitting earlier so that it would not interfere in the court process or clash with the dates of a critical criminal trial that has been unnecessarily delayed and disrupted many times by the defendant?

Where is your priority, Azhar - pandering to the whims and fancies of the defendant or to ensure justice is served at all costs and uphold the independence and dignity of the courts?

Top up more now!

Hand on agreed!

How many of these schemes have actually benefited the people they were meant for?

漂亮宝贝

Time to put into my portfolio!

Agreed

人家的心怎會像英國人這樣！殖民人家土地！欺搾人家資源！什広事都是你們説了算！有人權嗎？有民主嗎？

BoombasticHeng ,one swallow doesn't make a summer

It is difficult to fathom any credible reason for PN, previously BN, to deprive Malaysians the opportunity to learn Maths and Science in English other than fear of the English educated. Not that they are not equally proficiency in BM. In the globalized world of today English is the passport to the lucrative job markets worldwide including in Malaysia. Most of our top leaders from the Tengku right up to Najib and the second tier politicians from the old schools have done very well for themselves. Malaysians from English medium schools are the professionals that constituted the backbone of the private enterprises and public services of the post-independent era that pride in setting the solid fundamentals of this nation. It is rather sad that the political leaders of today have become so weak that they fear the educated masses in preference to those consigned to the dependency and hand-out syndrome of a failed education system.