Reportedly, The Goldman Sachs Group, Inc. (GS) has made the $2.5 billion payment to the Malaysian government to settle charges of misconduct related to 1MDB. The government plans to use the funds to repay 1MDB’s outstanding debt, which includes $3.5 billion of bonds due in 2022 and 2023. The payment of $2.5 billion is to be made in cash and guarantee the return of $1.4 billion from 1MDB assets seized globally. In return, Malaysia will drop criminal charges against the U.S. bank setting it free from one of its worst scandals since the financial crisis. Goldman Sachs is set to have a case management hearing over its criminal charges at a Malaysian court on Sept. 4.
The Goldman Sachs Group, Inc. (GS) is one of the world’s leading investment bankers & also a securities and investment management firm that offers a wide range of financial services with a diversified client base. To learn more about The Goldman Sachs Group, Inc. (GS) and to continue to track its progress please visit the Vista Partners Goldman Sachs Group, Inc. (GS), Coverage Page.
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