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

Goldman Sachs stall on NYSE floor Image copyright Reuters

Goldman Sachs has reached a $3.9bn (£3bn) settlement with the Malaysian government over the multi-billion dollar 1MDB scandal.

The settlement includes a $2.5bn cash payout by Goldmans and a guarantee to return at least $1.4bn in assets linked to 1MDB bonds.

US officials have so far helped Malaysia recover more than $1bn in assets.

The deal resolves all outstanding charges and claims against the bank.

Malaysian prosecutors filed charges in December 2018 against three Goldman Sachs units for allegedly misleading investors over bond sales totalling $6.5bn that the bank helped raise for sovereign wealth fund 1MDB.

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