Goldman Sachs settles 1MDB scandal with Malaysia for $3.9bn

[muriel_volestrangler]

Source: BBC

Goldman Sachs has reached a $3.9bn (£3bn) settlement with the Malaysian government for its role in the multi-billion-dollar 1MDB corruption scheme.

The deal resolves charges in Malaysia that the firm had misled investors when it helped raise $6.5bn for the country's 1MDB development fund.

Prosecutors say billions of dollars were ultimately stolen - including by some of the bankers involved.

Goldman said the deal was "an important step" towards resolving the matter.

Read more: https://www.bbc.co.uk/news/business-53529075

[11cents]

1. I doubt if I'm the only person who read this as "IMDB scandal."

[sandensea]

2. They should definitely make a movie out of it.

And of their role in the Greek collapse as well.