International Financial Law Prof Blog

Editor: William Byrnes
Texas A&M University
School of Law

Saturday, July 25, 2020

Goldman Sachs Settles for $3.8 Billion for its Role in the $4.5 billion Fraud of the Maylasia Sovereign Wealth Fund, Bank's Criminal Charges Dropped

The deal includes a $2.5 billion cash payout by Goldman and its guarantee to return at least $1.4 billion in proceeds from assets linked to sovereign wealth fund 1Malaysia Development Bhd (1MDB),

See the Reuters article here about the $3.9 billion settlement

See previous indictments of Goldman Sachs former Managing Director Former Managing Director of Goldman Sachs Extradited from Malaysia to United States to Face Charges in Multi-Billion Dollar Money Laundering and Bribery Scheme Relating to the 1MDB Fund

Malaysian Financier Low Taek Jho, Also Known As “Jho Low,” and Former Banker Ng Chong Hwa, Also Known As “Roger Ng,” Indicted for Conspiring to Launder $2.7 Billion Stolen From Malaysian Sovereign Wealth Fund

https://lawprofessors.typepad.com/intfinlaw/2020/07/goldman-sachs-settles-for-38-billion-for-its-role-in-the-45-billion-fraud-of-the-maylasia-sovereign-.html

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