The ex-Goldman Sachs banker was sentenced on palm-greasing and money laundering charges halting a globe-spanning fraud scandal ransacking more than $4 billion from a Malaysian sovereign wealth fund. After a nearly two-month trial, a federal jury identified the ex-banker, Roger Ng, guilty. After more than a couple of days of deliberation, jurors found Ng guilty of all three charges.
He should spend his life in prison for 30 years. The Attorney for the Eastern District of New York, Breon Peace said that the scheme to pilfer from the fund known as 1MDB was huge in its scale and brazen in its implementation. He said, “Today’s judgment is a win for not only the rule of law but also for the people of Malaysia for whom the fund was supposed to assist by increasing money for projects to enhance their country’s economy.”
Another ex-Goldman Tim Leissner and the government’s star saw during the trial, is planning to be sentenced in July, he pleaded guilty to bribery and money laundering charges in 2018. He got more than $60 million in kickbacks and prosecutors said Ng had received $35 million in illegal acts. Leissner was also stressed to acknowledge lying to investigators about his deeds relating to 1MDB and was grilled about past statements that conflicted with what he uttered on the stand. When stressed, Leissner said he lied a lot.
With the encouragement given by Leissner, Goldman Sachs’ Malaysia subsidiary pleaded guilty to a charge of crossing the limits of the Foreign Corrupt Practices Act, which is the maiden instance of Goldman standing before a US judge and confessing it was guilty to a misdemeanor.