New York court jails Goldman Sachs banker

New York court jails Goldman Sachs banker for 10 years for helping loot $4.5 billion from Malaysian govt's 1MDB Sovereign Wealth Fund

by Staff Writer 11-3-2023 | 2:24 PM



Colombo ( News 1st ) - Goldman Sachs' ex-banker, Roger Ng, has been sentenced to 10 years in prison after being found guilty of helping embezzle billions from Malaysia's 1MDB sovereign wealth fund.

Ng, the former head of investment banking in Malaysia, was convicted of aiding his former boss, Tim Leissner, to launder the proceeds, bribe officials and steal money from the fund.

The charges relate to the $6.5bn in bonds that Goldman Sachs helped 1MDB sell in 2012 and 2013, which was meant for Malaysia's development projects.