malaysia

Malaysian prosecutors on Friday withdrew criminal charges against three Goldman Sachs units accused of misleading investors over $6.5 billion in bond sales they helped organize for a state fund, the Bernama state news agency reported. The move comes after Goldman Sachs agreed to pay $3.9 billion to Malaysia to settle a probe into its alleged …

Goldman Sachs on Friday lowered its previously stated quarterly earnings as the bank set aside more money to pay for its settlement with the Malaysian government over the multi-billion-dollar 1MDB scandal. Goldman lowered its net earnings applicable to common shareholders to $197 million from $2.25 billion, in a filing published Friday. The revised earnings reflect …

Former Malaysian prime minister Najib Razak was convicted of corruption charges and sentenced to jail Tuesday in the first criminal trial linked to the massive 1MDB financial scandal. A judge in Kuala Lumpur found Najib guilty of seven charges he faced for allegedly receiving about $10 million from a former unit of 1Malaysia Development Berhad, …

Goldman Sachs chief executive David Solomon let his musical alter ego rip over the weekend after finally settling long-running fraud claims against his firm for $3.9 billion. Solomon dropped his beats for a field of well-heeled Hamptonites in Water Mill, NY, on Saturday, where his electronic dance music persona, DJ D-Sol, performed for a drive-in …

Goldman Sachs has reached a $3.9 billion settlement deal with Malaysia over its role in the massive 1MDB financial scandal, officials said Friday. The American investment bank agreed to pay $2.5 billion in cash and guaranteed the recovery of at least $1.4 billion in assets stemming from three bond sales tied to the embezzlement scam, …