Peanuts, Dr M says on Goldman’s RM1 billion offer

US investment bank Goldman Sachs reportedly pocketed US$600 million in fees for arranging bonds related to 1MDB. (AFP pic)

KUALA LUMPUR: Prime Minister Dr Mahathir Mohamad today described the RM1 billion offered by Goldman Sachs as compensation for the role it played in the 1MDB scandal as “peanuts”, adding that it is “not adequate”.

Speaking in an interview with CNBC, he said the finance ministry would decide on the appropriate amount of compensation to demand from the investment bank.

It was reported that Goldman Sachs had pocketed US$600 million in fees for arranging bonds related to 1MDB.

Putrajaya has filed criminal charges against three subsidiaries of Goldman Sachs Inc over their handling of bonds totalling $6.5 billion issued by 1MDB.

This is the first time a country has filed criminal charges against the US investment banking giant.