Goldman Poised to Pay More Than $2 Billion in DOJ’s 1MDB Probe
- Deal to push Goldman’s tally of penalties to around $5 billion
- Accord eases uncertainty over bank after years of negotiations
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Goldman Sachs Group Inc. has reached a long-awaited pact with the U.S. Department of Justice to pay more than $2 billion for the bank’s role in Malaysia’s 1MDB scandal, and the deal may be announced within days, according to people familiar with the matter.
The accord, part of an international action, will let the parent company avoid a U.S. criminal conviction, according to the people, who asked not to be named discussing the confidential talks. The payment to the Justice Department is broadly in line with the bank’s prior reserves and analysts’ estimates.