Goldman Sachs to pay over US$2.9 billion for 1MDB bribery and compliance failures

Goldman Sachs has reached a US$2.9 billion-plus global settlement with prosecutors and regulators in five jurisdictions over its role in bribing public officials and in the alleged embezzlement of more than US$2.7 billion from the proceeds of bond offerings for the 1Malaysia Development Berhad (1MDB) sovereign wealth fund.