The involvement in the corruption scandal over a Malaysian sovereign wealth fund costs Goldman Sachs an additional three billion dollars. The US bank accepted a comparison – and hopes to leave the issue behind.
Goldman Sachs has to dig deep into its pockets again because of the corruption scandal surrounding the Malaysian state fund 1MDB. With a settlement worth almost three billion dollars, the US bank creates a lawsuit from the US Department of Justice, as it became known at a court hearing in the US. The bank’s Malaysia subsidiary also pleaded guilty to violating US corruption laws.
The 1MDB scandal has severely scratched Goldman Sachs’ reputation and has already cost the company billions in fines and reparations. With the comparison that has now been made, the bank hopes to finally be able to leave the issue behind.