Feb. 3 at 4:45 PM
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1Malaysia Development Berhad (1MDB) was a sovereign wealth fund created by the Malaysian government in 2009. Instead of funding development, investigators found that at least
$4.5 billion of the fund was stolen, laundered, and used for personal enrichment — including luxury property, yachts, and even Hollywood films.
Prosecutors alleged that some Goldman bankers conspired to bribe foreign officials and laundered stolen funds through the bond offerings.
In 2020, Goldman agreed to pay about
$2.9 billion in penalties, disgorgement, and fines to resolve U.S. and international investigations, including admitting criminal wrongdoing under the U.S. Foreign Corrupt Practices Act.
Separately, Goldman reached a
$3.9 billion settlement with the Malaysian government to resolve civil and criminal claims tied to 1MDB.
