Regulators fine Goldman $2.9 billion over 1MDB

Goldman Sachs HQ
Goldman Sachs headquarters, New York City

Regulators in the US, Singapore and the UK reached settlements worth nearly $3 billion with US bank Goldman Sachs over its involvement in the massive 1MDB fraud.

Goldman Sachs will pay a record $2.9 billion fine, the US’s Department of Justice said in a statement on October 22. This will include the forfeit of $606 million in fees received from the 1MDB fund.

Its settlement with the authorities was the largest announced in relation to 1MDB this month. In July, Goldman agreed to pay $2.5

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