Defendant Name: The Goldman Sachs Group, Inc

Defendant Type: Public Company

Document Reference: 2020-265

Document Details

Legal Case Name In the Matter of The Goldman Sachs Group, Inc.
Document Name SEC Charges Goldman Sachs With FCPA Violations
Document Date 22-Oct-2020
Document Format Administrative Proceeding
File Number 3-20132
Allegation Type Foreign Corrupt Practices Act
Document Summary The SEC "announced charges against The Goldman Sachs Group Inc. for violations of the Foreign Corrupt Practices Act (FCPA) in connection with the 1Malaysia Development Berhad (1MDB) bribe scheme, and as part of coordinated resolutions, it has agreed to pay more than $2.9 billion, which includes more than $1 billion to settle the SEC's charges."

Disgorgement & Penalty Information

Resolutions
Cease and Desist Order
Monetary Penalties:

Disgorgement

Individual:     $606,300,000.00 Shared:    

Civil Penalty

Individual:     $400,000,000.00 Shared:    

Related Documents:

34-90243 22-Oct-2020 Administrative Proceeding
Order Instituting Cease-and-Desist Proceedings Pursuant to Section 21C of the Securities Exchange Act of 1934, Making Findings, and Imposing a Cease-and-Desist Order
On October 22, 2020, the SEC instituted settled cease-and-desist proceedings against The Goldman Sachs Group, Inc. The SEC stated: "This matter relates to a scheme perpetrated by now former senior employees of Goldman Sachs who authorized and paid bribes and kickbacks to government officials in Malaysia and the Emirate of Abu Dhabi ("Abu Dhabi") in order to secure lucrative business for the Company and benefits for themselves. Goldman Sachs violated the antibribery, books and records and internal accounting controls provisions of the Foreign Corrupt Practices Act ("FCPA") in connection with the scheme."

Related Actions:

In the Matter of Tim Leissner
Tim Leissner