Goldman Sachs agreed to pay more than $2.9 billion to regulators to resolve probes into its central role in an international scandal.The bank’s parent company entered a deferred prosecution agreement with the U.S. Justice Department that should allow it to avoid having to exit certain business operations.The bank’s Malaysian subsidiary formally pleaded guilty for its role in the 1MDB debacle, admitting to one count of conspiracy to violate the Foreign Corrupt Practices Act.Goldman ignored red flags that came up during due diligence on the 1MDB deals in pursuit of fees, authorities said.
Source: Goldman agrees to pay more than $2.9 billion to resolve 1MDB probes
