Goldman Sachs announced Thursday that it will demand repayment of $174 million in salary and bonuses paid to current and former executives at the company during the 1MDB Malaysian corruption scandal.
The company said it will include Chief Executive David Solomon, as well as his predecessor Lloyd Blankfein, and the bankers directly involved in the case.
Solomon said in a statement that "it is abundantly clear that certain former employees broke the law, lied to our colleagues and circumvented firm controls."
He added: "we recognize that we did not adequately address red flags."
Goldman's Malaysia unit earlier Thursday plead guilty in US court to settle the criminal probe, and the parent company will pay a total of $2.9 billion in penalties in the sweeping case that involved authorities in nine countries.
(Published 22 October 2020, 21:00 IST)
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