Ng was convicted of helping loot billions of dollars from Malaysia’s 1MDB sovereign wealth fund. Read more at straitstimes.com.
NEW YORK - Former Goldman Sachs banker Roger Ng was sentenced to 10 years in prison on Thursday, afterA jury in Brooklyn federal court last April found Ng, Goldman’s former head of investment banking in Malaysia, guilty offrom the fund, launder the proceeds and bribe government officials to win business.
US 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. The funds were used to buy high-end real estate, jewellery and artwork, and finance the Hollywood film, The Wolf Of Wall Street, according to the Department of Justice.
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