Former Goldman Sachs banker Roger Ng was convicted of helping his former boss embezzle money from the fund, launder the proceeds and bribe government officials to win business
Former Goldman Sachs banker Roger Ng was sentenced to 10 years in prison on Thursday, after he was convicted of helping loot billions of dollars from Malaysia’s 1MDB sovereign wealth fund.
U.S. prosecutors said $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.
In his own sentencing request on Feb. 25, Ng asked that he be given no prison time and be allowed to return to Malaysia. He spent six months in a Malaysian prison before waiving his right to contest extradition to the United States in 2018.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
First Nations woman first to testify in trial for former residential school priestThe Canadian Press doesn’t typically name complainants in such cases, but McIntosh wants to speak publicly and no publication ban was ordered
Read more »
Former 'Boy Meets World' star Ben Savage to run for U.S. CongressBen Savage, who starred in the 1990s sitcom 'Boy Meets World,' is running for U.S. Congress in a Los Angeles-area district, aiming at a seat being vacated by Representative Adam Schiff, who is now running for Senate.
Read more »
First Nations woman to testify against former residential school priest, now 93Victoria McIntosh told a courtroom the priest allegedly cornered her in a bathroom before assaulting her more than 50 years ago when she was a 10 year\u002Dold…
Read more »
First Nations woman to testify against former residential school priest, now 93Victoria McIntosh told a courtroom the priest allegedly cornered her in a bathroom before assaulting her more than 50 years ago when she was a 10 year\u002Dold…
Read more »
Former Fort St. James Mountie charged with historic sex assault of young teen - Terrace StandardFormer Fort St. James Mountie charged with historic sex assault of young teen
Read more »
Appeal Court quashes former IWK CEO Tracy Kitch’s fraud conviction | SaltWireHALIFAX, N.S. — The Nova Scotia Court of Appeal has quashed Tracy Kitch's conviction for defrauding the IWK Health Centre. Kitch, who billed $143,730 in ...
Read more »