Goldman to claw back executive pay over role in 1MDB corruption

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In settling the case with DOJ, Goldman announces it will slash RM721m in executive compensation.

Goldman Sachs Group Inc said on Thursday it was clawing back US$174 million in executive compensation, in addition to agreeing to pay US$2.9 billion for its role in Malaysia’s 1MDB corruption scandal, lifting a cloud that has hung over the bank for years.

The settlement with the US Department of Justice and other US and overseas regulators resolves a probe into the role Goldman Sachs bankers played in helping to steal cash, which Goldman helped raise, from the Malaysian state fund...

 

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Goldman Sachs Singapore will pay US$122 million to the Singapore Government for its role in bond offerings related to the 1MDB scandal.

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