Goldman Malaysia Unit’s Sentencing to Trigger Bank’s Payment (3)

June 8, 2021, 11:00 PM

Goldman Sachs Group Inc. will have 10 days to pay the remaining $1.26 billion of a $2.3 billion penalty for its role in the 1MDB fraud scheme after its Malaysia unit is sentenced on Wednesday, according to a court filing.

Goldman Sachs entered into a deferred prosecution agreement with the U.S. Justice Department last year. On Wednesday, U.S. District Judge Margo Brodie in Brooklyn, New York, is expected to sentence the bank’s Malaysia unit to pay $500,000 in the case. The sentencing of the Malaysia unit will trigger the larger payment by the New York-based bank.

Goldman and its Malaysian ...

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