KUALA LUMPUR -- The Malaysian government and global investment bank Goldman Sachs have reached a $3.9 billion settlement, under which the state will drop its criminal charges against the bank over funds solicited via three bond issuances by scandal-ridden fund 1Malaysia Development Berhad.
The settlement includes a cash payment of $2.5 billion and guarantees that the bank will return at least $1.4 billion in assets related to the proceeds it gained from assisting with the bond issuances, Malaysian Finance Minister Tengku Zafrul Aziz said in a statement today.
