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New Durden…
"Goldman Sachs is reportedly on the cusp of settling one of the biggest criminal cases involving a Wall Street bank since the financial crisis: According to a Bloomberg News report published late Monday evening, the Vampire Squid has reached a tentative agreement with the DoJ to pay more than $2 billion in penalties - a figure that BBG noted is "broadly in line with analysts expectations" - and - here's the key bit - allows the bank to avoid all criminal penalties.
That last bit is especially important, because, as we've chronicled over the past few years, many of the bank's top executives appeared to have been personally involved with the deal, which was initially brought in by Tim Leissner, formerly the bank's top man in Southeast Asia, before he was suspended over the deal, before agreeing to cooperate with the Feds against his former employer (where he reportedly told authorities about the endemic "culture of corruption" at play within the bank)."
https://www.zerohedge.com/markets/crime-pays-goldman-strikes-2bn-deal-doj-avoid-all-charges-banks-role-1mdb-scandal