Malaysia drops criminal charges vs Goldman Sachs over 1MDB

The bank has earlier agreed to pay $3.9b as settlement.

Malaysian prosecutors have withdrawn charges against Goldman Sachs units accused of deceiving investors over $6.5b in bond sales they helped build for the 1Malaysia Development Berhad (1MDB), reports Reuters, quoting local media.

It came after the bank agreed to pay $3.9b as settlement into its alleged role in the 1MDB scandal.

It is estimated that $4.5b were misappropriated from 1MDB between 2009 and 2014, including funds that Goldman Sachs helped to raise. The units, located in London, Hong Kong and Singapore, have all pleaded not guilty and that bank has denied wrongdoing.

As part of the deal, the bank has paid $2.5b in cash and guaranteed the return of $1.4b in 1MDB assets.

Here's more from Reuters.

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