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Goldman Sachs to pay $500 million for 1MDB lawsuit

Goldman Sachs agrees to pay $500 million to settle shareholder lawsuit over 1MDB scandal.

Matthew King
ByMatthew King- Senior Editor
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0
Goldman Sachs to pay $500 million for 1MDB lawsuit
Photo: Prepared by Bond.az

Goldman Sachs has agreed to pay $500 million to settle a shareholder lawsuit over its role in the 1MDB corruption scandal.

Lawyers for the shareholders, led by Sweden's Sjunde AP-Fonden, disclosed the amount in a Manhattan federal court filing.

The settlement requires court approval. Goldman Sachs did not immediately comment.

Former Malaysian Prime Minister Najib Razak set up 1MDB, from which $4.5 billion was allegedly siphoned.

Goldman earned about $600 million in fees from bond deals for 1MDB.

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