NEW YORK — US prosecutors on Friday (March 3) urged a judge to sentence former Goldman Sachs banker Roger Ng to 15 years in prison after he was convicted of helping loot billions of dollars from Malaysia's 1MDB sovereign wealth fund. A jury in Brooklyn federal court had last April found Ng, Goldman's former head of investment banking in Malaysia,...
Ex-Goldman Sachs banker Roger Ng exits the Brooklyn Federal Courthouse after being found guilty for his part helping embezzle from Malaysia's 1MDB sovereign wealth fund, in Brooklyn, New York, US on April 8, 2022.NEW YORK — US prosecutors on Friday urged a judge to sentence former Goldman Sachs banker Roger Ng to 15 years in prison after he was convicted of helping loot billions of dollars from Malaysia's 1MDB sovereign wealth fund.
In his own sentencing request on Feb 25, Ng asked that he be given no prison time and be allowed to return to Malaysia. The charges stem from some US$6.5 billion in bonds that Goldman helped 1MDB, which was founded to finance development projects in Malaysia, sell in 2012 and 2013.Prosecutors said US$4.5 billion of that sum was embezzled by officials, bankers and their associates, in one of the biggest scandals in Wall Street history.
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