The government of former Malaysian Prime Minister Najib Razak set up the 1MDB fund in 2009, and the U.S. Justice Department estimated $4.5 billion was misappropriated by high-level fund officials and their associates between 2009 and 2014. Goldman has been investigated by regulators in at least 14 countries, including the United States, Malaysia, Singapore and others, for its underwriting role and what it did and did not know at the time of the transactions.
NEW YORK: Goldman Sachs Group Inc is in talks with the U.S. government and a state regulator to possibly pay up to $2 billion and admit guilt to resolve investigations into its role in the 1MDB Malaysian corruption scandal, according to a source familiar with the matter.
The bank and U.S. officials have discussed a deal in which a Goldman subsidiary in Asia would plead guilty to violating U.S. bribery laws, the Wall Street Journal first reported on Thursday.
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