Goldman Sachs criminal case over 1MDB formally ends
NEW YORK, May 6 (Reuters) – A U.S. judge on Monday formally ended the U.S. government’s criminal case against Goldman Sachs (GS.N), opens new tab related to the Wall Street bank’s work for the Malaysian fund 1MDB after it met its obligations and paid $2.9 billion in penalties.
Chief Judge Margo Brodie of the federal court in Brooklyn dismissed a bribery conspiracy charge against Goldman, after the bank successfully completed a three-year deferred prosecution agreement that expired in October.
Goldman did not oppose the dropping of the criminal charge.
The bank helped sell $6.5 billion of bonds for 1MDB, which former Malaysian Prime Minister Najib Razak set up with the help of Malaysian financier Jho Low to promote economic development.
U.S. and Malaysian authorities have said $4.5 billion was siphoned away, with some diverted to offshore bank accounts and shell companies linked to Low, who is now a fugitive.
Source: REUTER
