Business ProfileforThe Goldman Sachs Group, Inc.
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The following describes a government action that has been resolved by either a settlement or a decision by a court or administrative agency. If the matter is being appealed, it will be noted below.
In 10/22/2020, the U.S. Department of Justice announced that Goldman Sachs Group Inc. (Goldman Sachs or the Company), a global financial institution headquartered in New York, New York, and Goldman Sachs (Malaysia) Sdn. Bhd. (GS Malaysia), its Malaysian subsidiary, have admitted to conspiring to violate the Foreign Corrupt Practices Act (FCPA) in connection with a scheme to pay over $1 billion in bribes to Malaysian and Abu Dhabi officials to obtain lucrative business for Goldman Sachs, including its role in underwriting approximately $6.5 billion in three bond deals for 1Malaysia Development Bhd. (1MDB), for which the bank earned hundreds of millions in fees. Goldman Sachs will pay more than $2.9 billion as part of a coordinated resolution with criminal and civil authorities in the United States, the United Kingdom, Singapore, and elsewhere.
Goldman Sachs entered into a deferred prosecution agreement with the department in connection with a criminal information filed in the Eastern District of New York charging the Company with conspiracy to violate the anti-bribery provisions of the FCPA. GS Malaysia pleaded guilty in the U.S. District Court for the Eastern District of New York to a one-count criminal information charging it with conspiracy to violate the anti-bribery provisions of the FCPA.In addition to these criminal charges, the department has recovered, or assisted in the recovery of, in excess of $1 billion in assets for Malaysia associated with and traceable to the 1MDB money laundering and bribery scheme.
DEFERRED PROSECUTION AGREEMENT: https://www.justice.gov/criminal-fraud/file/1329926/download/
At-a-glance
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Overview
Business Details
This is a multi-location business.
- Headquarters
- 200 West Street, New York, NY 10282-2102
- BBB File Opened:
- 1/1/2001
- Years in Business:
- 156
- Business Started:
- 1/1/1869
- Type of Entity:
- Corporation
- Alternate Business Name
- Goldman, Sachs & Co.
Customer Complaints
0 Customer Complaints
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