Crime

Ex-Goldman Sachs banker convicted in plot to loot 1MDB fund

Published April 8, 2022 9:38 AM

NEW YORK (AP) — A former Goldman Sachs banker has been convicted on corruption charges accusing him of participating in a $4.5 billion scheme to loot the Malaysian state investment fund, 1MDB.

A jury found Roger Ng guilty on Friday at a U.S. trial where jurors heard testimony about tens of millions of dollars in bribes and kickbacks.

The embezzlement bankrolled lavish spending on jewels, art, a superyacht and luxury real estate.

Ng’s lawyers claimed he was being made a “fall guy” for a higher-ranking Goldman banker who pleaded guilty and testified for the government.

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The Associated Press

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