Goldman Sachs Agrees to $3.9 Billion Settlement Over Malaysia Scandal
Goldman Sachs (NYSE: GS) has agreed with the government of Malaysia to settle a criminal investigation over alleged wrongdoing in that country's high-profile 1MDB scandal. Goldman Sachs will pay a total of $3.9 billion in the settlement.
1MDB stands for 1Malaysia Development Berhad, a strategic development fund owned and operated by the government of the sprawling Asian country. 1MDB made investments into such assets as power plants and casinos but soon veered into more questionable purchases. At one point, it even plowed money into the production of a noted American feature film, Martin Scorsese's The Wolf of Wall Street.
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Source Fool.com
