NEW YORK --- 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. A jury in Brooklyn federal court last April found Ng, Goldman's former head of investment banking in Malaysia, guilty of helping his former boss Tim Leissner embezzle money from the fund, launder the proceeds, and bribe government officials to win business. The charges stem from some $6.5 billion in bonds that Goldman helped 1MDB, which was founded to finance development projects in Malaysia, sell in 2012 and 2013. U.S. prosecutors said $4.5 billion of that sum was embezzled by...
Keep on reading: Ex-Goldman banker Ng sentenced to 10 years prison in 1MDB corruption case
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Keep on reading: Ex-Goldman banker Ng sentenced to 10 years prison in 1MDB corruption case
from INQUIRER.net https://ift.tt/eZ3S71z
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