Goldman Sachs US settlement over 1MDB scandal to lift dark cloud

The Justice Department probe focused on Goldman's role in underwriting three bond offerings in 2012 and 2013 that raised $6.5 billion for 1MBD.

WASHINGTON: Goldman Sachs Group Inc this week will agree to pay more than $2 billion to settle U.S. charges over its role in Malaysia's 1MDB corruption scandal, lifting a dark cloud that has hung over the bank for years.

Under the agreement with the U.S. Department of Justice and other regulators, the bank will admit fault for its role in underwriting bond offerings that raised $6.5 billion for the Malaysian state fund, according to media reports on Tuesday.