U. S. investment house Goldman Sachs has agreed to pay nearly $4 billion to settle a dispute with the Malaysian government over the 1MDB scandal, officials said Friday.
July 24 (UPI) — U. S. investment house Goldman Sachs has agreed to pay nearly $4 billion to settle a dispute with the Malaysian government over the 1MDB scandal, officials said Friday.
The Malaysian finance ministry said the settlement includes a cash payment of $2.5 billion and a guarantee for full recovery of at least $1.4 billion in assets. The latter was traceable to diverted proceeds from three bond transactions arranged by Goldman for the government’s 1Malaysia Development Berhad company, also known as 1MDB.
