Goldman Sachs, whose former executives are embroiled in a multi-billion dollar scandal
embezzlement of the Malaysian investment fund 1MDB, will agree to plead guilty in the United States and
to pay just under $2 billion in fines, the Wall Street Journal said on Thursday.
Goldman Sachs will admit to having ignored alarming signs that one of its clients, namely that the
Malaysian government, had found: large sums diverted from one of its sovereign funds
1MDB, underlines the daily, which quotes sources close to the file.
Goldman Sachs had helped raise $6.5 billion for 1MDB and received $600 million from
committee.
It is the subsidiary in Asia of the prestigious investment bank and not the parent company, which must recognize having
violated U.S. anti-corruption laws, according to the WSJ.
The out-of-court settlement, which is still being negotiated and the outlines of which could still change,
will also be accompanied by the establishment of an independent observer who will ensure compliance with the
regulation by Goldman Sachs and will help the bank to improve its procedures, the WSJ further asserts.
Malaysia is seeking to recover billions of dollars misappropriated from the 1MDB fund (1Malaysia Development
Berhad), launched in 2009 to serve the economic development of Malaysia. The siphoned money would have
benefited the former Malaysian Prime Minister Najib Razak and his relatives to finance expenses
sumptuous.