Goldman Sachs plans to cut bonuses as 1MDB scandal deepens

Investment bank might withhold cash from former boss Lloyd Blankfein over firm’s involvement in Malaysian affairGoldman Sachs’s decision to potentially cut bonuses for top executives over the 1MDB scandal reflects an acknowledgement of shareholder and public outrage over the debacle.The prestigious investment bank has announced that it could withhold millions of dollars in bonuses to former chief executive Lloyd Blankfein and two other retired executives depending on the outcome of ongoing inquiries into the Malaysian fund. Continue reading…

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