Goldman To Pay $2.9B After Admitting Role In 1MDB Fraud

Law360 (October 22, 2020, 12:03 PM EDT) -- Goldman Sachs has agreed to pay $2.9 billion to resolve the U.S government's criminal investigation into the bank's role in the 1Malaysia Development Bhd. scandal, counsel for the bank said during a Thursday morning hearing in New York federal court.

Goldman Sachs agreed Thursday to pay $2.9 billion to resolve the U.S. government's criminal investigation into the bank's role in the 1MDB scandal. (AP Photo/Mark Lennihan) The bank's Malaysian subsidiary pled guilty before a Brooklyn federal judge to violating the Foreign Corrupt Practices Act, while the megabank itself settled bribery charges with a deal that includes a $2.3 billion fine and...

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