UK regulators fine Goldman Sachs as part of $2.9bn 1MDB settlement
“Goldman Sachs participated in a sweeping international corruption scheme,” acting US Attorney General Seth D. DuCharme of the Eastern District of New York said in a statment. Goldman helped 1MDB raise $6.5bn through bond sales between 2012 and 2013. However, Malaysian authorities said at least $2.7bn of the funds were subsequently embezzled. “There is no amnesty for firms that tackle financial crime poorly, and the size of GSI’s [Goldman Sachs International] fine reflects that.”. In a separate statement on Thursday, the US Department of Justice said Goldman Sachs had admitted to conspiring to pay bribes of $1bn to Malaysian and Abu Dhabi officials as part of the case.