WASHINGTON: Goldman Sachs Group Inc could end up paying less than US$2 bil (RM8.3 bil) to resolve criminal and regulatory probes over its role in raising money for scandal-ridden Malaysian investment fund 1Malaysia Development Bhd (1MDB), Bloomberg reported on Friday, citing three people familiar with the negotiations.
While a settlement could be announced as soon as next month, the terms could change before a deal is finalised, according to the report.
The Justice Department and other federal agencies have weighed seeking penalties between US$1.5 bil and US$2 bil, which is less than what some analysts have signalled Goldman might have to pay, Bloomberg reported.
Malaysia has charged Goldman and 17 current and former directors of its units for allegedly misleading investors over bond sales totalling US$6.5 bil that the US bank helped raise for 1MDB.
Goldman Sachs spokeswoman Maeve DuVally said the bank continues to cooperate with the regulators’ investigations, but declined to comment further. The Department of Justice also declined to comment. – Reuters
