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Goldman Sachs likely to boost legal reserves for 1MDB: analysts

Reuters  |  NEW YORK 

By Elizabeth DiltsNEW YORK (Reuters) - Goldman Sachs Group Inc may need to boost its legal reserves by as much as $1 billion to prepare for potential penalties related to its dealings with the Malaysian sovereign wealth fund 1MDB, analysts said.The U.S. investment bank has been under scrutiny for its role in helping raise funds through bond offerings for 1Malaysia Development Bhd (1MDB), which is the subject of corruption and money-laundering investigations in at least six countries.U.S. prosecutors have brought criminal charges against two former Goldman bankers. Goldman has consistently ...

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First Published: Wed, December 05 2018. 23:25 IST