A federal jury convicted Roger Ng, a former managing director at the Goldman Sachs Group Inc. (Goldman Sachs) for his participation in the multi-billion dollar 1Malaysia Development Berhad (1MDB) bribery scheme.
1MDB is a Malaysian state-owned and controlled fund focused on investing and developing projects for the economic benefit of Malaysia and its people.
The jury found Ng guilty of conspiring to commit bribery, circumventing internal accounting controls of Goldman Sachs, and money laundering billions of dollars related to the 1MDB scheme. The defendant violated the Foreign Corrupt Practices Act (FCPA).
During the eight-week trial, federal prosecutors presented evidence that Ng and his co-conspirators laundered billions of dollars that were misappropriated and fraudulently diverted from 1MDB.
As part of the scheme, Ng and his co-conspirators including Tim Leissner conspired and bribed 12 Malaysian and United Arab Emirates (UAE) government officials. Leissner was the former Southeast Asia Chairman and participating managing director of Goldman Sachs.
