Home > Goldman Sachs: Nearly $3 Billion To Settle Charges

Goldman Sachs: Nearly $3 Billion To Settle Charges


Goldman Sachs on Thursday reached a massive settlement with US authorities regarding a years-long financial scandal in Malaysia. The federal investigation involved the bank's work with Malaysia's 1MDB fund, and found bribes by Goldman executives in their underwriting of $6.5 billion in bond offerings. In a statement, CEO David Solomon admitted the bank's wrongdoing and said it had improved internal risk controls to prevent another incident. The bank also announced "clawback actions" for former employees that were implicated along with reductions in top executives' compensation, including CEO David Solomon.

Added on the 22/10/2020 15:59:45 - Copyright : Wochit

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