Goldman Sachs Group Inc. has reached a long-awaited pact with the US Department of Justice to pay more than US$2 billion ($2.71 billion) for the bank’s role in Malaysia’s 1MDB scandal, and the deal may be announced within days, according to people familiar with the matter.

The accord, part of an international action, will let the parent company avoid a US criminal conviction, according to the people, who asked not to be named discussing the confidential talks. The payment to the Justice Department is broadly in line with the bank’s prior reserves and analysts’ estimates.

The deal, expected to come just weeks before the US presidential election, would remove uncertainty for the bank following years of investigations and negotiations with the Justice Department over the firm’s fundraising for the 1MDB investment fund. It follows an agreement in July to settle a related probe with Malaysia, in which the bank promised to pay US$2.5 billion. Malaysia dropped criminal charges against the New York-based company in early September.

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