FILE PHOTO: Ex-Goldman Sachs banker Roger Ng exits the United States Courthouse after being found guilty in Brooklyn, New YorkNEW YORK - Goldman Sachs Group Inc officers and directors reached a $79.5 million settlement to resolve shareholder claims that their poor oversight contributed to the bank being enmeshed in the looting scandal at Malaysia's 1MDB sovereign wealth fund.
U.S. prosecutors have said Goldman helped 1MDB arrange $6.5 billion of bond sales, but that $4.5 billion was diverted via bribes and kickbacks to government officials, bankers and others. The bank previously agreed to pay billions of dollars to authorities in the United States and other countries over 1MDB, and in 2020 entered a three-year deferred prosecution agreement with the U.S. Department of Justice.
Source: Law Daily Report (lawdailyreport.net)
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