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


Associated Press

NEW YORK (AP) — A former Goldman Sachs banker has been convicted of bribery and other 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 all counts Friday at a U.S. trial where jurors had 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.

Article Topic Follows: AP National Business

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