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WASHINGTON (REUTERS) – The board of directors of Goldman Sachs Group Inc. announced on Friday February 1 that it was holding a premium of at least 7 million US dollars (9.45 million US dollars) to the former CEO, Lloyd Blankfein, until the investigation into the bank's involvement in the bank. the scandal is solved.
The bank has also introduced a new forfeiture clause in its annual compensation plans for its two key executives, the current chief executive, David Solomon, and his former chairman, Blankfein, regarding the ongoing proceedings of 1Malaysia Development. Berhad (1MDB).
This decision highlights the dangers that the 1MDB scandal has always brought Goldman, which is currently under investigation by the Malaysian authorities and the US Department of Justice for its role as underwriter and arranger of three sales of bonds that raised US $ 6.5 billion for the Malaysian public fund.
The US Department of Justice estimated that a total of $ 4.5 billion had been embezzled by 1MDB high-level fund managers and their collaborators between 2009 and 2014, including some of the funds that Goldman Sachs had helped to collect.
Goldman Sachs has always denied wrongdoing.
The company said Friday in a regulatory document that its board of directors could cut executive salaries if it were later determined that the results of ongoing investigations into the 1MDB process would affect their decisions about end-of-year remuneration.
The Wall Street bank also said it had paid Solomon a total compensation of $ 23 million in 2018, an increase of 9.5% over its 2017 compensation.
Blankfein received annual compensation of $ 20.5 million in 2018, down $ 3.5 million from 2017.
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