Ex-Goldman banker Roger Ng to finally face trial over 1MDB embezzlement plot

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Ex-Goldman banker Roger Ng to finally face trial over 1MDB embezzlement plot
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Roger Ng, Goldman’s former head of investment banking in Malaysia, faces federal charges of conspiracy to launder money and violate US anti-bribery laws and has pleaded not guilty.

Roger Ng will soon face trial over Malaysia’s 1MDB corruption scandal, more than two years after he was first charged for his alleged role in an embezzlement scheme that resulted in an international embarrassment for the bank., more than three years after the ex-banker was first arrested in Malaysia. Attorneys will deliver their opening arguments next week in Brooklyn federal court.

Ng was first extradited from Malaysia to the US in May 2019, but his federal trial was delayed for years due to the COVID-19 pandemic. He faces up to 30 years in prison if found guilty on all charges. The scandal resulted in months of bad publicity for Goldman Sachs and touched some of the world’s most widely known individuals. Some of the misappropriated money was used to fund “The Wolf of Wall Street,” the star-studded film starring actor Leonardo DiCaprio. Low used more than $8 million to purchase jewelry for former Victoria’s Secret model Miranda Kerr, according to prosecutors.

Leissner, who was a partner for Goldman Sachs’ Asia division, pleaded guilty to charges of conspiracy to launder money and conspiracy to violate the Foreign Corrupt Practices Act. He also agreed to forfeit $43.7 million and will be sentenced later this year.

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