Goldman to claw back executive pay over role in 1MDB corruption

Goldman Sachs Group Inc said on Thursday it was clawing back US$174 million (RM721 million) in executive compensation, in addition to agreeing to pay US$2.9 billion for its role in Malaysia’s 1MDB corruption scandal, lifting a cloud that has hung over the bank for years.

The settlement with the US Department of Justice (DOJ) and other US and overseas regulators resolves a probe into the role Goldman Sachs bankers played in helping to steal cash, which Goldman helped raise, from the Malaysian state fund...