Ex-Goldman Sachs banker convicted in $4.5 billion corruption scheme
Former Goldman Sachs executive Roger Ng, left, leaves Brooklyn Federal court with attorney Marc Agnifilo, right, May 6, 2019, in New York. A jury began deliberations on Tuesday, April 5, 2022, at a U.S. trial stemming from an audacious scheme involving former Goldman Sachs bankers to ransack a Malaysian state investment fund known as 1MBD.NEW YORK — A former Goldman Sachs banker was convicted on Friday on bribery and other corruption charges accusing him of participating in a $4.
A former head of investment banking in Malaysia, Ng is the only Goldman banker to stand trial in the 1MDB scandal. The 49-year-old had pleaded not guilty to three counts — conspiring to launder money and violating two anti-bribery laws. Ng’s defense attorneys have described the looting of 1MDB state investment fund as “perhaps the single largest heist in the history of the world.” But they contend U.S. prosecutors scapegoated Ng for crimes committed by others, including the government’s star witness, Tim Leissner.
“If we told any bank the truth, it wouldn’t work,” he said. “The house of cards would have fallen down.” The defense claimed that some of the $35 million Ng received through Leissner — money prosecutors said were illicit proceeds from the scheme — was actually the proceeds of a legitimate business transaction between the two men’s wives.
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