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Malaysia in transition

Malaysia turns up heat on Goldman for 1MDB refund

Mahathir says US authorities have promised to give back the money

Goldman shares tumble on Monday as Malaysia calls for full refund over its role in raising capital for 1MDB.   © Reuters

SINGAPORE -- The Malaysian government stepped up pressure Tuesday on Goldman Sachs to pay back the $600 million in fees it earned from arranging three bond deals for state fund 1Malaysia Development Bhd in 2012 and 2013 as the investment bank comes under intense scrutiny in the U.S.

The scrutiny is due to former Goldman employees' role in arranging those three deals that raised a total of $6.5 billion for scandal-tainted 1MDB.

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