Goldman Sachs ‘close to $2bn settlement’ over 1MDB scandal
Reported deal between bank and US Department of Justice would end investigation
Goldman Sachs is close to reaching a near-$2bn (£1.5bn) settlement with the US Department of Justice over the 1MDB corruption scandal, according to a report.
The Wall Street bank is said to be formulating a deal that would see its Asian subsidiary, rather than the parent company, pay a multibillion pound fine and admit guilt for having allegedly turned a blind eye while $4.5bn was looted from its client, Malaysia’s sovereign wealth fund 1MDB.