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Goldman could reportedly settle for less than $2 billion following multiple probes over Malaysian investment fund ' and that's lower than expected

Published by Business Insider on Sat, 07 Dec 2019

Goldman Sachs could settle for under $2 billion to resolve US probes into the bank's involvement with 1MDB, a Malaysian investment fund surrounded by scandals, Bloomberg reported.The sumwhich could be between $1.5 billion and $2 billionis far less than analysts expected, according to Bloomberg.The bank has been subject to probes by the Justice Department and other federal agencies over its role in raising capital for the now-insolvent fund.Watch Goldman Sachs trade live on Markets Insider.Goldman Sachs could pay under $2 billion to settle the US investigations into its role in the 1MDB scandal, according to a report from Bloomberg.The Justice Department and other federal agencies are considering a fine between $1.5 billion and $2 billion, far less than some analysts expected the bank to pay, Bloomberg found. Analysts from Citi wrote earlier this year that the fines could reach as high as $9 billion.A settlement could be announced as early as next month, but the final details of the deal could change, Bloomberg reported.US regulators have been investigating the Wall Street bank's role in raising capital for the now-insolvent Malaysian investment fund between 2012 and 2013.Attorney General William Barr is overseeing the case and most of the settlement is expected to be given to the Justice Department, according to Bloomberg.Goldman is also working with Malaysian regulators to settle separate probes around the scandal. The country has publicly stated it wants the bank to pay as much as $7.5 billion, but according to Bloomberg, privately the discussions are pegging the figure between $2 billion and $3 billion.1MDB came under intense scrutiny around 2015 over allegations of corruption, embezzlement, and bribery.Join the conversation about this storyNOW WATCH: A big-money investor in juggernauts like Facebook and Netflix breaks down the '3rd wave' firms that are leading the next round of tech disruption
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