Goldman Sachs Singapore will pay US$122 million (S$165 million) to the Singapore Government for its role in bond offerings related to 1MDB, the authorities said today, Channel News Asia reports. The payment comes after Goldman Sachs entered a deferred prosecution agreement (DPA) on Thursday with the US Department of Justice over the 1MDB scandal. Goldman Sachs Singapore will also disgorge US$61 million to the Malaysian authorities; the fee represents what it earned from the 1MDB bond offerings. “The total amount paid or to be paid by Goldman Sachs Singapore under the conditional warning is therefore US$183 million,” said the statement. Following the inspection in 2017, Goldman Sachs Singapore was required to undertake various remedial measures to address the identities lapse.

Source: The Standard October 23, 2020 07:18 UTC