Lawyers for the New York-based bank asked Deputy Attorney General Jeffrey Rosen to review demands by some federal prosecutors for Goldman to pay more than $2 billion in fines and plead guilty to a felony charge, «The New York Times» reported on Friday. The U.S. outlet cited three people briefed on the matter, which centers around Goldman's role in 1MDB.

A guilty plea in U.S. court is rare for banks – and even less common for domestic banks. Goldman's bid is reminiscent of Credit Suisse's attempt to escape pleading guilty over helping tax dodgers and cheats in a 2014 settlement with U.S. prosecutors. A guilty plea complicates a banks' ability to provide some services in the U.S., like for pension funds (the Swiss bank sought, and won, a special waiver to do so).

Corona Delay

Goldman Sachs is entangled in the 1MDB scandal over allegations that it misled investors through a $6.5 billion bond sales to raise capital for sovereign wealth fund 1MDB. The coronavirus pandemic has delayed the investigation but a resolution to the case, which has been ongoing since 2015, is expected by early September, the report said.

Goldman made its request was made several weeks ago, according to the outlet, which noted that it has become a point of pride for the U.S.-based bank that it has never had to admit guilt in a federal investigation. The bank and 17 executives also face charges in Malaysia.

No Deal in Malaysia

Earlier this week, Malaysian officials said they would not accept a $3 billion settlement and will persist with its legal push if an acceptable sum is not reached. In December 2019, former Goldman banker Tim Leissner was barred from the industry by the Securities and Exchange Commission.

The SEC secured a settlement deal that included the forfeiture of $43.7 million Leissner obtained as part of his role in facilitating bribes to senior officials in Malaysia and Abu Dhabi which resulted in $600 million in fees earned by Goldman Sachs, according to the U.S. Justice Department. He has is cooperating with authorities, though his sentencing has been moved from this month to January, the report said.