Compliance » Goldman Topples Airbus, Claims Record FCPA Penalty Crown For USA!

Goldman Topples Airbus, Claims Record FCPA Penalty Crown For USA!


Top spot among the ten all-time biggest Foreign Corrupt Practices Act penalties and disgorgements now belongs to Goldman Sachs Group Inc. Goldman also has the distinction of being the only U.S. company among the top ten. Its winning margin was huge. The $3.3 billion assessed by the DOJ and the SEC eclipsed the penalties against former number one, Netherlands/France-based Airbus SE, by nearly one billion dollars. The assessment resolved charges related to the Malaysian sovereign wealth fund 1Malaysia Development Berhad (1MDB), which, according to the DOJ, involved $1.6 billion in bribes to high-ranking government officials in Malaysia and the Emirate of Abu Dhabi. In July, Goldman agreed to pay the Malaysian government $2.5 billion. As part of the settlement, Malaysian authorities agreed to withdraw pending criminal charges against Goldman and 17 current and former executives. Former Malaysian Prime Minister Najib Razak was convicted on seven counts of looting 1MDB and related charges. He was sentenced to 12 years in prison, but his sentence was suspended during appeals, which are expected to be protracted.

Read full article at:

Get our free daily newsletter

Subscribe for the latest news and business legal developments.

Read this next

AI Vital To Cybersecurity and Cyber Criminals

SEC Complaint Against Company Filed by Ransomware Gang

The new Security and Exchange Commission’s (SEC’s) reporting rules require U.S.-listed companies […]

AI Executive Order Finally Released

The Recruiting Workflow: A Balance Between Technology and Humans

As Legal Operations professionals support their corporate legal departments with digital transformation […]

What to Do When Your Employees Are Using Chatbots

Making Digital Transformation a Core Competency in 2024

Every two or three years, the business world changes, and leaders are […]

Scroll to Top