Goldman Sachs to pay Malaysia $3.9bn over 1MDB scam
Daily MailMalaysia has reached a $3.9 billion settlement with Goldman Sachs over the Wall Street titan's role in the 1MDB scandal in exchange for the country ending all criminal proceedings against the bank. Billions of dollars were looted from sovereign wealth fund 1Malaysia Development Berhad in a fraud that allegedly involved former prime minister Najib Razak and his associates. Malaysia has reached a $3.9 billion settlement with Goldman Sachs over the Wall Street titan's role in the 1MDB scandal Najib lost power in 2018 amid public anger at the scandal, and a new government charged Goldman and a string of former and current employees over the fraud, as well as demanding hefty compensation. Billions of dollars were looted from the sovereign wealth fund in a fraud that allegedly involved former prime minister Najib Razak and his associates 'We are confident that we are securing more money from Goldman Sachs compared to previous attempts, which were far below expectations.'