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Cohn Shrugs Off Goldman’s Demand for Pay With Check to Charity

  • Bank pressed former president to return more than $10 million
  • It was part of broader show of accountability for 1MDB scandal

After refusing to return millions in pay to Goldman Sachs Group Inc., Gary Cohn has come up with a workaround that lets him walk away with the upper hand: He’s giving the money away to charity.

The bank’s board had demanded its former president return more than $10 million as part of a broader punishment inflicted on senior leadership, including Chief Executive Officer David Solomon and his predecessor, to demonstrate accountability for the company’s involvement in the 1MDB corruption scandal. Cohn refused. He will donate money to charity, according to a representative for him.