After paying Malaysia, Goldman to fork out another US$2b to DOJ

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Goldman Sachs has reached an agreement with the US Department of Justice (DOJ) to pay more than US$2 billion for the bank's role in Malaysia's 1MDB scandal, according to reports.The agreement, which may be announced on Thursday, will allow Goldman Sachs to avoid a US criminal conviction over the scandal, said Bloomberg, citing sources familiar with the matter.Malaysia has dropped criminal charges against three Goldman Sachs units after the bank agreed to pay US$2.5 billion to settle the probe.Goldman Sachs had generated about US$600 million in fees for its work with the Malaysian sovereign wealth fund, which included three bond offerings in 2012 and 2013 that raised US$6.5 billion.According to The New York Times, Goldman Sachs will “admit mistakes” but will not itself have to enter a guilty plea to charges in the US as part of the deal with prosecutors.The bank will al…