Malaysia strikes deal with Goldman Sachs
Malaysia reached a $3.9 billion settlement with Goldman Sachs yesterday over the Wall Street titan's role in the 1MDB scandal in exchange for the country ending all criminal proceedings against the bank. Billions of dollars were looted from sovereign wealth fund 1Malaysia Development Berhad in a fraud that allegedly involved former leader Najib Razak and his cronies. Malaysia had charged Goldman and several of its former and current employees over the scandal, claiming the bank made misleading statements to investors.
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