12/19/2019, 3:08 PM (Source: TeleTrader)
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Goldman discussing to pay $2B in US over 1MDB - report

Goldman Sachs Group Inc. is currently negotiating with the United States Department of Justice (DoJ) to plead guilty and pay a fine of up to $2 billion for the alleged involvement in the Malaysian government fund (1MDB) corruption scandal, the Wall Street Journal reported on Thursday, citing anonymous sources with knowledge of the issue.

The company also agreed to have its compliance procedures monitored. The terms of the deal could still change over time, according to the report. The financial services firm was accused by the DoJ of deliberately overlooking the financial crimes committed against the Malaysian fund, which was its client at the time.

It was reported in April that the two sides were not negotiating a settlement in the case. In October, Goldman was also reported to be in talks with Malaysian authorities to pay a fine in the $2 billion to $3 billion range related to the same scandal.

Breaking the News / MS