FORMER Finance Minister Lim Guan Eng has questioned how the country would obtain the return of RM1.105 billion (USD$248 million) lost through money laundering exploits following the decision by 1MDB to withdraw its civil claim against Riza Shahriz Abdul Aziz earlier this week.
Riza is the stepson of former premier Datuk Seri Najib Razak, who in turn, is serving imprisonment for his alleged money laundering activities tied to the 1MDB.
In 2021, 1MDB had sued Riza Aziz, for alleged misappropriation of the US$248 million in funds to finance movie productions and purchase various real estate, said Lim.
The Malaysian government had then claimed that Goldman Sachs had allowed misappropriation and bribes of US$4.5 billion out of the US$6.5 billion in bonds that it raised for 1MDB in 2012 and 2013.
Recalling the difficulty in remitting back the squandered sum which is related to public funds, Lim said that in 2020 the Malaysian government and Goldman Sachs had reached a settlement, requiring Goldman Sachs to pay US$2.5 billion while guaranteeing the return of US$1.4 billion of 1MDB assets seized by the authorities around the world, in exchange for Malaysia dropping charges against the bank.
To-date Goldman Sachs had not fulfilled its obligations of that settlement.
Now, there is no reason given for the withdrawal of 1MDB’s civil suit, said Lim.
MACC had previously said that Riza and his lawyers are working towards a global settlement on the recovery of the US$248 million.
However, no details have been disclosed as to how such a recovery would be conducted, said Lim in a statement.
With the settlement with Goldman Sachs currently disputed, public interest requires a full accounting of how Malaysians will get the US$248 million from Riza Aziz, said Lim, who is also a former Penang chief minister. - March 1, 2025.
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