March 9, 2023

A former Malaysia-based Goldman Sachs investment banker has been sentenced to 10 years in prison for being involved in a massive bribery and money-laundering scheme involving Malaysia’s state-owned 1Malaysia Development Berhad (1MDB).  In order to obtain and retain lucrative business for Goldman Sachs, Roger Ng and co-conspirators at Goldman Sachs misappropriated billions of dollars from 1MDB, which they used to pay bribes to 12 government officials in Malaysia and the United Arab Emirates.  Proceeds from the scheme were then laundered through the U.S. financial system.  DOJ

Tagged in: Bribery and Bid-Rigging, Criminal Proceedings, FCPA,