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October 22, 2020

Posted  October 22, 2020

The Goldman Sachs Group, Inc. and its Malaysian subsidiary, Goldman Sachs (Malaysia) Sdn. Bhd. (GS Malaysia) have pleaded guilty to conspiracy to violate the Foreign Corrupt Practices Act (FCPA), entered into a deferred prosecution agreement with DOJ, and agreed to pay $2.9 billion as part of a coordinated resolution with authorities in the U.S., U.K., and Singapore.  Between 2009 and 2014, senior employees at the global financial institution directly and indirectly paid over $1.6 billion in bribes to government officials in Malaysia and Abu Dhabi, earning $606 million in revenue and an increased presence in Southeast Asia as a result.  Goldman’s managing director, Tim Leissner, was separately charged for his role last DecemberDOJ; USAO EDNY; SEC

Tagged in: FCPA, Financial and Investment Fraud,

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