Analysis

Goldman Sidesteps Monitor In 1MDB Deal, Raising Eyebrows

Law360 (October 23, 2020, 7:17 PM EDT) -- Goldman Sachs Group Inc.'s $2.9 billion settlement with the U.S. government and others over its role in the 1Malaysia Development Berhad scandal was a blockbuster, but the deal is stirring fresh criticism as the latest big-bank criminal resolution to come without a compliance monitor requirement.

Under terms announced Thursday by the U.S. Department of Justice and other financial regulators, the bank must pay $2.3 billion in penalties and fork over $600 million in fees from its work underwriting three bond offerings for 1MDB, Malaysia's sovereign wealth fund, in 2012 and 2013. Goldman admitted to its role in a scheme to secure...

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