Business
Goldman Sachs CEO faces pay hit after company pays $US3b to settle probe into 1MDB scandal – Sydney Morning Herald
David Solomon could be forced to return some of his compensation as Goldman Sachs hit with penalty that draws a line under a saga that has dogged the bank for years….
The US Department of Justice said the deal was the largest penalty ever levied on a US company for breaching the Foreign Corrupt Practices Act and involved an unprecedented number of regulators across the globe.
Brian Rabbitt, acting head of the Justice Department’s criminal division, said the settlement reflected the bank’s central role “in a massive global scheme to loot billions of dollars” from the state Malaysian fund.”
Between roughly 2009 and 2014, Goldman paid more than $US1.6 billion in…
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