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Goldman Sachs Reportedly Agrees To Pay U.S. $2.8 Bln To Settle 1MDB Probes

Goldman Sachs Group Inc. (GS) has reached an agreement with the U.S. Department of Justice to pay about $2.8 billion for the bank's role in Malaysia's 1MDB scandal, the Wall Street Journal reported citing people familiar with the matter.

The bank's subsidiary in Asia tied to the misconduct is expected to plead guilty this week, while the parent company will accept deferred prosecution agreement, the Journal reported.

The settlement with the Justice Department, expected as soon as this week, would settle an investigation into Goldman's work for a corrupt Malaysian government fund known as 1MDB.

The settlement follows an agreement in July to settle a related probe with Malaysia, in which the bank agreed to pay $2.5 billion.

Malaysia had agreed to withdraw the pending criminal charges and agreed that no further charges would be brought against Goldman Sachs, its subsidiaries, or any of their directors, officers and employees (excluding former employees Tim Leissner and Roger Ng) related to 1MDB.

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