Goldman Sachs Faces Potential Lawsuits As Malaysia's PM Targets 1MDB Settlement
Portfolio Pulse from Benzinga Neuro
Malaysia's Prime Minister, Anwar Ibrahim, is considering lawsuits against Goldman Sachs (NYSE:GS) over the 1MDB money laundering scandal. In 2020, Goldman Sachs agreed to repay $3.9 billion to Malaysia in exchange for the withdrawal of criminal charges related to the scandal. However, the current administration disputes this amount, arguing it is insufficient. The bank is obliged to return at least $1.4 billion in recovered assets to Malaysia by August 2025.
August 21, 2023 | 7:08 am
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Goldman Sachs faces potential lawsuits from Malaysia over the 1MDB scandal. The bank agreed to repay $3.9 billion in 2020, but the current administration disputes this amount.
The potential lawsuits against Goldman Sachs over the 1MDB scandal could lead to financial and reputational damage for the bank. This could negatively impact the bank's stock price in the short term.
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