Goldman Sachs will pay $3.9 billion (3 billion pounds) to settle Malaysia’s criminal probe over the U.S. investment bank’s role in the multibillion-dollar 1MDB scandal, closing a key front in the multi-jurisdictional investigation that has hung over Goldman.
Goldman Sachs shares rose 0.68% in New York morning trading on the Malaysia news and signals the U.S. Department of Justice could be near closing a similar probe.
A spokesman for the Justice Department declined to comment.
“We view this as positive as GS is closer to removing a key overhang for investors, and this provides added comfort that the total settlement amount should be manageable,” wrote Steven Chubak, an analyst at New York-based Wolfe Research.
The original full article can be found at reuters.com.
(Picture: REUTERS/Olivia Harri)