Write For Us

1MDB corruption scandal: Goldman to pay $3 billion, claw back executive pay

E-Commerce Solutions SEO Solutions Marketing Solutions
83 Views

  • Thanks! Share it with your friends!

    You disliked this video. Thanks for the feedback!

ava
Published
Goldman Sachs Group Inc on Thursday said it was clawing back $174 million in executive compensation and had agreed to pay $2.9 billion over its role in Malaysia’s 1MDB corruption scandal, lifting a cloud that has hung over the bank for years.

The settlement with the U.S. Department of Justice and other U.S. and overseas regulators resolves a probe into the role Goldman Sachs bankers played in helping to steal cash, which Goldman helped raise, from the Malaysian state fund.

While the scandal has proved a humbling and costly saga for the Wall Street giant, the long-awaited settlement should allow Chief Executive David Solomon to accelerate his plans to turn the bank around after a decade of under-performance, analysts said. Goldman's shares were up 1.4% on the news.
Category
TV Saluran - TV Channel
Tags
kinitv, 1MDB, Najib
Sign in or sign up to post comments.
Be the first to comment