The Monetary Authority of Singapore (MAS) has issued a lifetime prohibition order against former Goldman Sachs banker, Ng Chong Hwa, also known as Roger Ng. Effective from Sep 5, Ng will be permanently barred from participating in any regulated activity under the Securities and Futures Act (SFA) and from offering financial advisory services under the Financial Advisers Act (FAA). In March, Ng was sentenced to a 10-year prison term, following his April 2022 US conviction for his role in laundering billions of US dollars from 1Malaysia Development Berhad (1MDB) between 2009 and 2014. Ng, along with co-conspirators, was found guilty of bribing officials and sidestepping Goldman Sachs’ internal controls. Tim Leissner, Ng’s superior at Goldman Sachs, received a similar ban in 2018.
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