Goldman Sachs U.S. settlement over Malaysia 1MDB scandal to lift dark cloud

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Stock Markets23 minutes ago (Oct 22, 2020 11:15AM ET)

© Reuters. FILE PHOTO: The Goldman Sachs company logo is seen in the company's space on the floor of the NYSE in New York© Reuters. FILE PHOTO: The Goldman Sachs company logo is seen in the company’s space on the floor of the NYSE in New York

WASHINGTON (Reuters) – Goldman Sachs Malaysia, a unit of the Wall Street investment banking group (N:), on Thursday pleaded guilty to U.S. Department of Justice charges over its role in Malaysia’s 1MDB corruption scandal, as it looks to settle a probe that has dogged the bank for years.

In a court hearing, Goldman Sachs said it would plead guilty to violating the anti-bribery provisions of the Foreign Corrupt Practices Act in relation to the scandal.

Later today, Goldman will agree to pay more than $2 billion to settle the charges over its role in the scandal.

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