Goldman Sachs and Malaysia have signed an agreement finalising the US bank's US$3.9 billion settlement over the 1MDB scandal, allowing for its implementation.
Both parties announced the settlement last month, but the formal signing of the agreement -- disclosed by Goldman in a regulatory filing in New York on Tuesday -- completes the process.
The cash plundered from state coffers bankrolled a global spending spree, and was spent on everything from artwork, to real estate and a superyacht. In its New York filing, the Wall Street titan said the signing of the settlement pact"implements the prior agreement in principle" announced on July 24. Bloomberg News reported that Goldman must make the cash payment to Malaysia within 10 days, citing sources.
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Goldman Sachs, Malaysia sign off on US$3.9 billion 1MDB settlementGoldman Sachs and Malaysia have signed an agreement finalising the US bank's US$3.9 billion settlement over the 1MDB scandal, allowing for its ...
Read more »
Goldman, Malaysia sign final deal on 1MDB settlementNEW YORK (BLOOMBERG) - Goldman Sachs Group Inc. and Malaysia signed an agreement to finalise the bank's US$3.9 billion (S$5.32 billion) settlement over the 1MDB scandal.. Read more at straitstimes.com.
Read more »
Goldman sees S&P 500 surging to 3,600 by end-2020A potential COVID-19 vaccine and bets of an economic rebound in 2021 will lift the S&P 500 to 3,600 by the end of the year, Goldman Sachs said, ...
Read more »
Laugh out loud with 'Dr. Jason Leong: Hashtag Blessed' this September'I'm excited to be on Netflix. Now the world can see how good I am at stand-up comedy,' said Dr Jason Leong.
Read more »
New US sanctions to slam Huawei, further roil tech supplyRamped-up U.S. restrictions on Huawei are likely to cut off the Chinese smartphone maker's access to even off-the-shelf chips and disrupt the ...
Read more »