US District Judge Margo Brodie ends US government's case against Goldman Sachs in the 1MDB scandal, Goldman pays $2.9B penalties, and two former bankers face sentencing.

US District Judge Margo Brodie has formally ended the US government's criminal case against Goldman Sachs regarding its work with the Malaysian fund 1MDB. Goldman Sachs completed its obligations, paying $2.9 billion in penalties. The bank had previously sold $6.5 billion of bonds for 1MDB, at the center of a corruption scandal involving the misappropriation of $4.5 billion. Two former Goldman bankers, Tim Leissner and Roger Ng, were charged and are facing sentencing and imprisonment respectively.

May 07, 2024
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