Malaysia

Goldman Sachs pleads guilty, reaches over US$2b settlement on Malaysia’s 1MDB scandal


The logo of Goldman Sachs is seen on the clothing of a trader working at the Goldman Sachs stall on the floor of the New York Stock Exchange. ― Reuters pic
The logo of Goldman Sachs is seen on the clothing of a trader working at the Goldman Sachs stall on the floor of the New York Stock Exchange. ― Reuters pic

WASHINGTON, Oct 22 — Goldman Sachs Malaysia, a unit of the Wall Street investment banking group, today pleaded guilty to US Department of Justice charges over its role in Malaysia’s 1MDB corruption scandal, as it looks to settle a probe that has dogged the bank for years.

In a court hearing, Goldman Sachs said it would plead guilty to violating the anti-bribery provisions of the Foreign Corrupt Practices Act in relation to the scandal.

Later today, Goldman will agree to pay more than US$2 billion to settle the charges over its role in the scandal. — Reuters



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