Friday, October 23, 2020

Goldman Fined And Claws Back Compensation

Goldman Sachs agreed to pay a $2.3 billion fine and disgorge $600 million in profits related to the Malaysian 1MDB scandal. Goldman employees bribed foreign officials and aided fund officials in misappropriating money from the fund. One Goldman banker has already pled guilty to criminal charges and another has his case still pending. Goldman has also clawed back $174 million in bonuses and reduced salaries from individuals involved in the scandal and their supervisors.