Goldman Sachs' Malaysian unit to be sentenced over 1MDB role

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US district judge expected to impose a US$500,000 penalty, that will then trigger a payment of US$1.26 billion by the US-based Goldman Sachs Group. FMTNews

Goldman Sachs and its Malaysian unit admitted conspiring to engage in a five-year scheme to violate a US anti-bribery law.

Goldman Sachs entered into a deferred prosecution agreement with the United States Justice Department last year. Goldman and its Malaysian unit admitted conspiring to engage in a five-year scheme to violate a US anti-bribery law. The agreement allows the bank to defer prosecution as long as it continues to cooperate with the US and submits compliance reports.

 

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