The Goldman Sachs Group has reached an agreement with the Government of Malaysia to resolve the criminal and regulatory proceedings linked with 1Malaysia Development Berhad (1MDB). This includes the pending criminal charges against subsidiaries of Goldman Sachs and some of their current and previous directors.
The agreement requires the firm to pay the Government of Malaysia $2.5 billion. The Government of Malaysia will also receive proceeds worth a minimum of $1.4 billion from any 1MDB assets that global governmental authorities seized from them.
In return, the Government of Malaysia will withdraw the pending criminal charges against the firm. It will also not press any other charges against Goldman Sachs, its subsidiaries and associated stakeholders linked with 1MDB.