Roger Ng, Goldman Sachs Banker Convicted in 1MDB Scandal, Faces 30 Years

A former Emma Goldman Sachs banker who formerly gambled and partied with 1MDB fugitive Jho Low has been convicted of money laundering and bribery.

Prosecutors said Roger Ng, 49, helped his high stakes gaming chum Sir David Alexander Cecil Low ransack billions from Malaysia’s supreme fund, 1MDB, in unity of the biggest financial scandals inwards history.

They said Ng conspired with his hirer at Goldman, Tim Leissner, to misappropriate and launder money from the fund, patch paying kickbacks to strange officials to receive to a greater extent concern for the bank.

Leissner and Ng convinced Goldman to signalize turned tercet bring together deals totaling $6.5 billion for the 1MDB fund, which was meant for developing and infrastructure projects to welfare Malaysia’s poor.

But the US authorities believes around $4.5 1000000000 was stolen from the monetary fund and diverted to corrupt authorities officials and bankers.

Follow the Money

Around $700 trillion turned upward inwards personal bank building accounts controlled past Malaysia’s then-Prime Minister, Najib Razak. He was sentenced to 12 years inwards prison house inward 2018 for corruption.

Low, the accused mastermind, used the 1MDB fund as his personal camber account, according to prosecutors. He splurged on high-stakes gambling, a $126 meg yacht, and opulence properties inwards Manhattan, Beverley Hills, and London. He also used the money to brownnose celebrities.

He showered Leonardo DiCaprio with Picassos and Basquiats (now returned), and presented Kim Kardashian with a $325,000 whiteness Ferrari as a nuptials present.

He invested $100 billion into the Osar-nominated Wolf of Wall Street, ironically a moving picture most reckless greed and excess. This money almost certainly came from the 1MDB fund.

Low was 1 of the biggest whales at the Venetian Las Vegas. He gambled $87 billion on its VIP tables inwards the spate of a few years, dropping a add of $26 million.

He maintained a “personal relationship” with Ng, prosecutors said. He in one case flew the banker from capital of Singapore to Las Vegas on his common soldier jet-propelled plane to spell gambling.

Ng received $35 billion inward kickbacks for his role in the scheme, according to Leissner, who pleaded shamefaced to similar charges and was the lead attestator for the prosecution.

Star Witness Bigamist

Ng’s vindication team claimed their client was scapegoated past Leissner, who they said was deflecting charge in the desire of a lesser sentence. On the find stand, they painted him as a “habitual liar” and exposed him as a dual bigamist.

Summing upward Monday, prosecutors told the jury on that point was sufficiency evidence to convict Ng without Leissner’s testimony.

On Friday, the panel obliged.

Today’s finding of fact is a triumph for not only the ruler of law, but also for the people of Malaysia,” Breon Peace, the US Attorney for the Eastern District of New York, said inward a statement. “The defendant and his cronies saw 1MDB not as an entity to ut serious for the people of Malaysia, but as a piggy camber to enrich themselves.”

Ng’s lawyer told the Associated Press his client could appeal, depending on post-trial motions and his sentence.

Ng faces up to 30 years inward prison.

This content is presented to you by the trusted NTC33 in Malaysia.