Bangkok, Sep 4 (efe-epa).- A Malaysian court dismissed the case against Goldman Sachs Friday for its link to the corruption case of state fund 1Malaysia Development Berhard (1MDB), after promising to pay a million-dollar compensation.
The corruption plot, for which former Malaysian Prime Minister Najib Razak has been sentenced to 12 years in prison, caused millions in losses after the embezzlement of funds that were used to buy jewelry, a yacht, works of art and even finance the movie “The Wolf of Wall Street,” directed by Martin Scorsese and starring Leonardo DiCaprio.
Judge Mohamed Zini, of the High Court of Kuala Lumpur, made the decision after the Prosecutor’s Office dropped charges against Goldman Sachs and two subsidiaries accused of facilitating transactions with embezzled public money, according to local news agency Bernama.
Specifically, between 2012 and 2013, the entity managed three bond transfers for a total value of $6.5 billion in favor of a 1MDB subsidiary.
The dismissal of the lawsuit comes after Goldman Sachs agreed on Jul. 24 to pay $3.9 billion to Malaysia following an agreement with the country’s Ministry of Finance.
The payment includes the recovery of assets worth at least $1.4 billion from the funds diverted in the bond transactions, while the bank agrees to help the Malaysian government recover other assets.
The 1MDB corruption plot came to light in 2015, when various media denounced the diversion of some $681 million from the fund to the private accounts of Najib Razak, who claims he believed it was a donation from a Saudi prince.
The case contributed to the defeat in the 2018 elections of Najib, who has been indicted on 42 charges, including those of money laundering and abuse of power, since he lost office.
Najib was sentenced to 12 years in prison in July in one of the trials against him, but is on probation while appealing and insisting on defending his innocence.
The ex-president blames the embezzlement of public funds on the considered mastermind of the plot, Malaysian financier Jho Low, who is on the run.
The US Department of Justice estimates that some $4.5 billion were diverted from 1MDB, of which some $1 billion would have been laundered in the US with the purchase of real estate, yachts, jewelry and works of art, among other goods. EFE-EPA