Illustrative image. Photo: David Adam Kess, CC BY-SA 4.0. Logo shown to identify the sanctioned company; no affiliation or endorsement.

Sovereign Fund Business, Pre-Owned: Advisory, Bonds, Underwriting

Price: approximately $1.6077 billion. Deferred prosecution for the group; guilty plea for the Malaysian unit.

Sold2009–2014International

about $1,607,700,000≈ €1.44BAs stated in the source: approximately $1.6077 billion

Already sold, to The Goldman Sachs Group, Inc., in 2009–2014. Nothing on Lobay is for sale.

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Seller

Role: foreign officials of 1MDB, the Government of Malaysia, and IPIC and Aabar (Abu Dhabi), as described in the Statement of Facts
Institution: 1MDB; Government of Malaysia (Ministry of Finance); IPIC; Aabar Investments PJS
Place: Malaysia and Abu Dhabi

Item specifics

Condition	Deferred prosecution agreement, 2020-10-22; Malaysian unit pleaded guilty
Location	Malaysia and Abu Dhabi
Seller	Foreign officials of 1MDB, Government of Malaysia, IPIC and Aabar. Names not on the label.
Winning bidder	The Goldman Sachs Group, Inc.
Category	Finance
Sold	2009–2014
Returns	No returns. Total criminal monetary penalty: $2,315,088,000 (2020)

Description

What the bribe bought

According to the U.S. Department of Justice's Statement of Facts, three 1MDB bond offerings, a related acquisition and an IPIC transaction ultimately earned Goldman in excess of $600 million in fees and revenue.

Return on bribe: Every $1 of bribes earned about $0.37.Rough figure: the bribe is stated as “approximately”, the gain as “more than”.

What happened

Between 2009 and 2014, Goldman conspired to provide approximately $1.6077 billion to, or for the benefit of, foreign officials and their relatives in Malaysia and Abu Dhabi. The business it got was adviser on 1MDB's acquisitions of Malaysian energy assets, underwriter of 1MDB bonds, and underwriter of certain other 1MDB business. On 2020-10-22 The Goldman Sachs Group, Inc. entered a deferred prosecution agreement, and its Malaysian unit pleaded guilty. The total criminal monetary penalty was $2,315,088,000. The criminal case against the group was dismissed on 6 May 2024.

Read the article

US judge dismisses criminal case against Goldman Sachs relating to Malaysia's 1MDB · The Straits Times (Reuters)

Official record

Plea Agreement and Statement of Facts, United States v. Goldman Sachs (Malaysia) Sdn. Bhd., Cr. No. 20-438 (MKB) · U.S. Department of Justice / U.S. Attorney's Office, E.D.N.Y.

Shipping & returns

Authority	Kind	Amount	Year
U.S. Department of Justice / U.S. District Court, E.D.N.Y.	total criminal monetary penalty	$2,315,088,000≈ €2.07BAs stated in the source: the total monetary penalty is $2,315,088,000	2020
U.S. Department of Justice (SEC disgorgement credited)	disgorgement	$606M≈ €542MAs stated in the source: the appropriate disgorgement is $606 million	2020