Where will Malaysians get back US$ 248 million following 1Malaysia Development Bhd’s (1MDB) withdrawal of its US$ 248 million civil claim against Riza Shahriz Abdul Aziz? In 2021 1MDB had sued Riza Aziz, the stepson of former Prime Minister Datuk Seri Najib Razak, for alleged misappropriation of US$248 million in funds to finance movie productions and purchase various real estate.
The Malaysian government had 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. 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.
No reason has been given for the withdrawal of 1MDB’s suit. 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. 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.
LIM GUAN ENG
MP For Bagan
DAP National Chairman
