Goldman completes deal to end complaint over 1MDB

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US bank Goldman Sachs announced the settlement deal in principle on July 24. (Bloomberg pic)KUALA LUMPUR: Goldman Sachs Group Inc and Malaysia signed an agreement to finalise the bank’s US$3.9 billion settlement over the 1MDB scandal. The US bank, which had announced an agreement in principle on July 24, confirmed the formal accord in a regulatory filing late Tuesday in New York. The firm must make a US$2.5 billion cash payment to Malaysia within 10 days, people with knowledge of the matter said this week, asking not to be identified as the information is private. The pact marks a major step toward resolving the scandal surrounding 1MDB, the state fund that’s at the centre of global investigations into corruption and money-laundering. The deal announced in July called for Goldman to pay US$2.5 billion while guaranteeing the return of US$1.4 billion of 1MDB assets seized by author…