Former Goldman Sachs banker Roger Ng is facing 10 years imprisonment. In April 2022, Ng was found guilty in the bribery scandal involving the state-owned Malaysian investment fund. The Department of Justice said a forfeiture amount will be determined later. US Attorney Breon Peace said Ng was a central player in a brazen and audacious scheme that not only victimised the people of Malaysia, but also risked undermining the public’s confidence in governments, markets, businesses, and other institutions on a global scale. The 1MDB fund was set up to promote the Malaysian economy, but was spectacularly looted in a scandal that roiled the country’s politics and marred Goldman’s reputation. Ng and his co-conspirators allegedly paid more than USD1bn in bribes to government officials to secure three large bond transactions for Goldman with 1MDB.
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