1MDB, GOLDMAN SACHS
Goldman Sachs has agreed to plead guilty to end a bribery probe in the 1MDB scandal. It will pay $2.8B - a record foreign bribery penalty - in the US. This is on top of the $2.5B settlement it reached with Malaysia in July. You do the math; that's a lot of moolah. The tl;dr version of the story is Malaysia government launched a fund called 1 Malaysia Development Bhd (1MDB), which raised $6.5B by selling bonds to investors via Goldman Sachs, multiple times. There were a lot of red flags and bribery involved, and now most of the money is poof - gone! One of the main characters, Jho Low, remains at large. If any of you Sherlock Holmes knows his whereabouts, please don't hesitate to send us an email.
Fascinating story. Pick up the book, "Billion Dollar Whale" if you want a deep dive.