Goldman Sachs to settle US$3.9bil


PETALING JAYA: Goldman Sachs has agreed to a total settlement of US$3.9bil (RM16.63bil) to resolve outstanding charges and claims related to the three bond transactions that the investment bank had structured and arranged for 1Malaysia Development Bhd (1MDB), says the Finance Ministry.

In a statement, the ministry said the settlement includes a cash payment of US$2.5bil (RM10.66bil) and a guarantee of full recovery value of at least US$1.4bil (RM5.97bil) in assets that are traceable to the diverted proceeds from the three bond transactions.

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