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Goldman Sachs to pay $2.9 billion in penalties in 1MDB bribery scandal

Shortpedia

Content Team
Image Credit: Shortpedia

Global investment bank Goldman Sachs has agreed to pay $2.9 billion in penalties to get rid of criminal charges in the 1MDB Malaysian bribery scandal. This will be the largest fine in US ever in a corruption case. Acting US Assistant Attorney General Brian C. Rabbitt said the fund raised for the Malaysian government "was looted by corrupt officials and their co-conspirators, including senior Goldman bankers".