“We are confident that we are getting more money from Goldman Sachs compared to previous attempts, which were well below expectations,” Finance Minister Tengku Zafrul Aziz said in a statement.
“We are also happy to be able to solve this problem outside the court system, which would have cost a lot of time, money and resources,” he said, adding that the agreement would resolve all charges and claims. pending against Goldman Sachs.
Malaysian prosecutors filed a complaint in December 2018 against three units of Goldman Sachs for misleading investors over bond sales totaling $ 6.5 billion that the bank helped raise for the 1MDB (1Malaysia Development Bhd) sovereign fund.
Goldman Sachs has always denied wrongdoing, saying some members of the former Malaysian government and 1MDB lied to it about how the proceeds from bond sales would be used. Goldman Sachs units have pleaded not guilty to the charges.
Goldman Sachs confirmed the $ 3.9 billion settlement and said it has reached a tentative deal with Malaysia to resolve all criminal and regulatory proceedings in the country involving the company.
US and Malaysian officials say around $ 4.5 billion was stolen from 1MDB, as part of an elaborate plan that has spanned the world and involved, among others, former Malaysian Prime Minister Najib Razak and Goldman Sachs.
A Malaysian court will deliver its verdict on Tuesday in the case against Najib, the first of several corruption trials he will face in connection with the 1MDB scandal.
Najib denied any wrongdoing and pleaded not guilty to all charges against him.