UK fines Goldman Sachs £96.6 million in global action over 1MDB scandal

In this news, we discuss the UK fines Goldman Sachs £96.6 million in global action over 1MDB scandal.

LONDON (Reuters) – UK regulators on Thursday fined Goldman Sachs International £ 96.6m ($ 126m) in global action that will see the US bank pay nearly $ 3bn to settle an investigation into his role in the 1MDB corruption scandal in Malaysia.

“There is no amnesty for companies that tackle financial crime badly, and GSI’s fine is a reflection of that,” said Mark Steward, executive director of enforcement and from market surveillance to the UK Financial Conduct Authority, in a statement.

The settlement resolves an investigation by U.S. authorities into the bank’s role in underwriting three bond offers in 2012 and 2013, which raised $ 6.5 billion for the Malaysian government.

Reporting by Andy Bruce and David Milliken; edited by Stephen Addison

Original © Thomson Reuters

Originally posted 2020-10-23 01:56:09.

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