Former Goldman Sachs banker Roger Ng was sentenced to 10 years in jail on Thursday, in keeping with CNN.
“There’s a important want to discourage crimes of pure greed like this one,” U.S. District Choose Margo Brodie mentioned.
Ng was discovered responsible in April 2022 of three counts together with conspiring to launder cash. He confronted trial over the “1MDB scandal,” which stole billions from Malaysia’s sovereign wealth fund.
As Margo put it within the trial, Ng “successfully stole cash” from issues like assist for infrastructure for individuals who stay in Malaysia. At one level, this scandal was underneath investigation in 5 international locations and even impacted worldwide diplomacy, per the Wall Road Journal.
“Between 2012 and 2013, the defendant, Roger Ng, acquired greater than $35 million in kickbacks for his function within the scheme to steal and launder billions of {dollars} from 1MDB, together with funds 1MDB raised in 2012 and 2013 by three bond transactions and to make use of that cash for bribes,” the U.S. Legal professional’s Workplace within the Jap District of New York mentioned in April.
Ng collaborated with folks together with Tim Leissner, who pleaded responsible in addition to testified in opposition to Ng, and former Prime Minister of Malaysia, Najib Razak, who’s serving 12 years in jail.
