Goldman Sachs and Malaysia reach $3.9B settlement over 1MDB - latest world news 2020

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    Saturday, July 25, 2020

    Home Yahoo News - Latest News & Headlines Goldman Sachs and Malaysia reach $3.9B settlement over 1MDB

    Goldman Sachs and Malaysia reach $3.9B settlement over 1MDB

    Goldman Sachs and Malaysia reach $3.9B settlement over 1MDBMalaysia’s government said Friday it has reached a $3.9 billion settlement with Goldman Sachs in exchange for dropping criminal charges against the bank over bond sales that raised money for the 1MDB sovereign wealth fund, which was looted of billions of dollars in a massive scandal. Malaysian and U.S. prosecutors had alleged that the bond sales organized by Goldman Sachs provided one of the means for associates of ex-Prime Minister Najib Razak to steal billions over several years from a fund that was ostensibly set up to accelerate Malaysia’s economic development.




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