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.
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