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Goldman Legal Danger Climbs Again as It Awaits 1MDB Settlement

Feb. 21, 2020, 11:24 AM

Goldman Sachs Group Inc. bumped up an estimate for unexpected legal costs, even after taking a billion-dollar charge last quarter, as it awaits punishment for its role in the 1MDB corruption scandal.

The Wall Street giant’s estimate for “reasonably possible” legal losses rose to $3.3 billion as of Dec. 31 from $2.9 billion three months earlier, according to a filing Friday. The estimate gives investors an idea of potential costs beyond reserves that are already set aside.

Goldman doesn’t identify the cases responsible for the revised assessment. The firm has been striving to break free of criminal probes tied to ...