Goldman Sachs to pay $2.9 bn fine for Malaysian scam | Editorji
  1. home
  2. > companies
  3. > Goldman Sachs to pay $2.9 bn fine for Malaysian scam
replay trump newslist
up NEXT IN 5 SECONDS sports newslist
tap to unmute
00:00/00:00
NaN/0

Goldman Sachs to pay $2.9 bn fine for Malaysian scam

Oct 23, 2020 15:05 IST

Global financial giant Goldman Sachs has agreed to pay $2.9 billion in penalties to settle criminal charges in the Malaysian bribery scandal, news agency AFP has reported. This is the largest US fine ever in a corruption case, the Justice Department announced on Thursday. Goldman Sachs helped raise $6.5 billion for the Malaysian government's sovereign wealth fund. The US Justice Department has said more than $4.5 billion was stolen from the fund by high-level officials at the fund and their associates between 2009 and 2015. The guilty plea could curtail activities of Goldman Sachs Malaysia but allows the parent company to avoid admitting wrongdoing in court -- which would have damaged its ability to do business.

Companies