Goldman Sachs sues Malaysia as discord over 1MDB settlement escalates
© Reuters. Men walk past a 1 Malaysia Development Berhad billboard at the funds flagship Tun Razak Exchange development in Kuala Lumpur March 1, 2015. REUTERS/Olivia Harris/ File Photo
In 2020, Goldman Sachs had agreed to pay $3.9 billion to settle Malaysia's criminal probe over the U.S. investment bank's role in the multibillion-dollar 1MDB scandal. Prosecutors have said Goldman helped sovereign wealth fund 1MDB raise $6.5 billion through three bond sales, but that $4.5 billion was diverted to government officials, bankers and their associates through bribes and kickbacks between 2009 and 2015.
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