Former Goldman Banker Gets 10 Years in Prison for His Role in 1MDB Scandal

A former Goldman Sachs banker convicted last year for his role in the looting of billions of dollars from a Malaysian sovereign wealth fund was sentenced to 10 years in prison by a federal judge in Brooklyn on Thursday.

The former banker, Roger Ng, was convicted of bribery and money-laundering charges in April after a nearly two-month trial that shined a light on the role that Mr. Ng and others at Goldman had played in an international bribery scandal. The authorities said the scheme was engineered by a Malaysian businessman, Jho Low, who was also indicted along with Mr. Ng but was now a fugitive believed to be living in China.

Mr. Ng, a former managing director for Goldman in Asia, is the only person to go to trial in the United States over the scandal that looted more than $4 billion from the 1Malaysia Development Berhad fund, better known as 1MDB.

“Roger Ng was a central player in a brazen and audacious scheme that not only victimized the people of Malaysia, but also risked undermining the public’s confidence in governments, markets, businesses and other institutions on a global scale,” Breon Peace, the U.S. attorney for the Eastern District of New York, said in a statement.

Article source: https://www.nytimes.com/2023/03/09/business/roger-ng-goldman-sachs-1mdb-sentenced.html