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Goldman Sachs $3.9bn Settlement With Malaysia

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Goldman Sachs Reached Settlement With Malaysian Government for 1MDB Scandals Goldman Sachs has reached a $3.9bn (£3bn) settlement with the Malaysian government for its role in the multi-billion-dollar 1MDB corruption scheme. The deal resolves charges in Malaysia that the firm had misled investors when it helped raise $6.5bn for the country's 1MDB development fund. Prosecutors say billions of dollars were ultimately stolen - including by some of the bankers involved. Goldman said the deal was "an important step" towards resolving the matter. "There are important lessons to be learned from this situation and we must be self-critical to ensure that we only improve from the experience," it added. 1MDB scandal: The playboys, PMs and partygoers Goldman's role in the 1MDB scandal in 300 words The settlement - the largest reached so far in the scandal - includes a $2.5bn cash payout by Goldman. The firm also said it would guarantee that the government would receive
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IMDB: Ex-Goldman Banker Made Millions

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1MDB scandal: US prosecutors allege ex-Goldman banker made millions Published 7 hours ago Share Related Topics 1MDB corruption scandal IMAGE SOURCE, GETTY IMAGES US prosecutors allege a former Goldman Sachs banker siphoned off millions of dollars from Malaysia's scandal-hit 1MDB sovereign wealth fund. Roger Ng, who was Goldmans' head of investment banking in Malaysia, is charged with conspiring to launder money and violate anti-bribery law. The trial got underway in Brooklyn, New York on Monday after Mr Ng previously pleaded not guilty to all charges. 1MDB lost billions of dollars in one of the world's biggest financial scandals. ADVERTISEMENT If found guilty, Mr Ng faces up to 20 years in jail for the money laundering charge and five years for each of the two bribery charges. "The defendant saw an opportunity to make millions of dollars by cheating, and he took it," Brent Wible, a lawyer for the US Department of Justice said as the trial opened on Monday. Mr Wibl
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