Deals
Goldman Takes Another 1MDB Blow as Fed Steps Up Probe
- Central bank said to examine actions of firm and individuals
- Regulator has broad authority to penalize bank or force change
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You can add another headache into the mix for Goldman Sachs Group Inc.
The Federal Reserve is ramping up its investigation into how executives dodged the bank’s internal controls while helping Malaysian authorities raise billions of dollars that later went missing, according to people briefed on the matter. The probe examines the actions of Goldman Sachs as well as individuals and has been gaining momentum in recent weeks, the people said, asking not to be identified because the inquiry is confidential.