Goldman Sachs settles investigation into 1MDB scandal with USD 2.8 billion payment

By Sascha Matuszak

Goldman Sachs has agreed to pay a penalty of USD 2.2 billion[1] for its role in the robbing of 1Malaysia Development Berhad (1MDB), a Malaysian development fund meant to improve infrastructure and living standards for millions of Malaysians. The bank’s Asian offices, run by the chief executive David Solomon, helped sell billions in bonds for the fund. The bank also assisted in money laundering and bribed officials, including the former first lady of Malaysia. Some of Goldman Sachs employees also profited from the illicit deals and have been since charged in U.S. courts.

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