Goldman poised to pay more than US$2 bil in DoJ’s 1MDB probe

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The pact will let the investment bank avoid a US criminal conviction, say sources. FMTNews GoldmanSachs DoJ 1MDB

The Goldman Sachs Group’s deal with the US Department of Justice follows a similar agreement with Malaysian authorities.

It follows an agreement in July to settle a related probe with Malaysia, in which the bank promised to pay US$2.5 billion. Malaysia dropped criminal charges against the New York-based company in early September. In all, Goldman Sachs may pay roughly US$5 billion once accords with Malaysia, the Department of Justice and other agencies are tallied together.

The Monetary Authority of Singapore, Attorney-General’s Chambers and police did not immediately reply to an email seeking comment.

 

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