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Goldman Sachs U.S. settlement over Malaysia 1MDB scandal to lift dark cloud

·1 min read
FILE PHOTO: FILE PHOTO: A sign is displayed in the reception of Goldman Sachs in Sydney
FILE PHOTO: FILE PHOTO: A sign is displayed in the reception of Goldman Sachs in Sydney

WASHINGTON (Reuters) - Goldman Sachs Malaysia, a unit of the Wall Street investment banking group, on Thursday pleaded guilty to U.S. Department of Justice charges over its role in Malaysia's 1MDB corruption scandal, as it looks to settle a probe that has dogged the bank for years.

In a court hearing, Goldman Sachs said it would plead guilty to violating the anti-bribery provisions of the Foreign Corrupt Practices Act in relation to the scandal.

Later today, Goldman will agree to pay more than $2 billion to settle the charges over its role in the scandal.

(Reporting by Anirban Sen and Noor Zainab Hussain in Bengaluru, Sarah Lynch and Michelle Price in Washington and Matt Scuffham in New York; Editing by Bernard Orr)