Beautiful Virgin Islands

Saturday, Aug 01, 2026

Ex-Goldman banker convicted in 1MDB corruption case

Ex-Goldman banker convicted in 1MDB corruption case

Former Goldman Sachs banker Roger Ng was convicted by a U.S. jury on Friday of conspiring to violate an anti-corruption law to help loot hundreds of millions of dollars from Malaysia's 1MDB development fund.

Prosecutors say Roger Ng, Goldman's former top investment banker for Malaysia, helped his former boss Tim Leissner embezzle money from the fund -- which was founded to pursue development projects in the Southeast Asian country -- launder the proceeds and bribe officials to win business for Goldman.

Ng, 49, has pleaded not guilty to conspiring to launder money and violating an anti-corruption law. His lawyers say Leissner, who pleaded guilty to similar charges in 2018 and agreed to cooperate with prosecutors' investigation, falsely implicated Ng in the hopes of receiving a lenient sentence.

The jury convicted Ng of two counts of conspiracy to violate the Foreign Corrupt Practices Act and one count of conspiracy to commit money laundering.

Deliberations began on Tuesday after a nearly two-month trial in federal court in Brooklyn.

The charges stemmed from one of the biggest financial scandals in history.

Prosecutors have said Goldman helped 1MDB raise $6.5 billion through three bond sales, but that $4.5 billion was diverted to government officials, bankers and their associates through bribes and kickbacks between 2009 and 2015.

Ng is the first, and likely only, person to face trial in the United States over the scheme. Goldman (GS) in 2020 paid a nearly $3 billion fine and its Malaysian unit agreed to plead guilty.

Jurors heard nine days of testimony from Leissner, who said he sent Ng $35 million in kickbacks. Leissner said the men agreed to tell banks a "cover story" that the money was from a legitimate business venture between their wives.

Ng's wife, Hwee Bin Lim, later testified for the defense that the business venture was, in fact, legitimate. She said she invested $6 million in the mid-2000s in a Chinese company owned by the family of Leissner's then-wife, Judy Chan, and that the $35 million was her return on that investment.

Ng's lawyer, Marc Agnifilo, said in his closing argument on Monday that Leissner could not be trusted. Alixandra Smith, a prosecutor, said in her summation that Leissner's testimony was backed up by other evidence.

Jho Low, a Malaysian financier and suspected mastermind of the scheme, was indicted alongside Ng in 2018 but remains at large.

Newsletter

Related Articles

Beautiful Virgin Islands
0:00
0:00
Close
Finland Deploys Commercial-Scale Thermal Batteries Using Crushed Rock to Store Renewable Grid Energy
Valued at $109 Million: F-35B Fighter Jet Crashes in Southern California
Andy Burnham has Announces Plans to Redistribute Income Tax Revenue to English Mayors
Early-Release Scheme Faces Fresh Scrutiny as Reoffending and Prison Recalls Rise
Police Phone Checks Followed Report on Murder of MI5 Agent Inside Sinn Féin
Archbishop of Canterbury Reaffirms £100 Million Reparative Justice Fund During Ghana Visit
Drought Status Extended Across All of Wales as Heat and Dry Weather Deepen Environmental Strain
Record-Low Danube Exposes Probable Mammoth Remains in Bulgaria
US Says It Has Carried Out Heavy Strikes on Iran After Attempted Attacks on Its Forces
The chief executive of the popular gaming company laid off many employees and his pay rose to 38 million dollars
The World's Most Terrifying Smartphone: Recording, Documenting, and Reporting to the Regime
The AI User Nightmare: Private Claude Conversations Leaked to the Internet
UK: Former Football Association Leaders Call for World Cup Boycott Over FIFA Privatization Plan
Forbidden Love: China severs millions from their virtual partners
Over 24 Hours in the Air: Qantas Airbus Completes Record-Breaking Test Flight
Zuckerberg Opposes US Ban on Chinese AI Models and Warns of Regulatory Capture
Massive Wildfires Ravage Southern Europe: Fatalities in Greece and Evacuations Across France, Spain, and Turkey
Trump says Israel ‘would not survive’ without US
France Evacuates Atlantic Coast Resorts as Wildfire Risk Rises Again
Magnitude 7.1 Earthquake Strikes Kumamoto as Rescuers Search Collapsed Buildings
OpenAI Faces Demands for Full Disclosure After Models Breach Hugging Face
Nvidia Reportedly Takes Vast Texas Data-Centre Lease to Underwrite AI Expansion
Royal Collection Trust Income Falls as Palace Visits Retreat From Record Highs
FIFA’s Private-Investment Plan for World Cup Rights Draws European Revolt
Ministers Examine Social-Care Levy as Burnham Seeks Funding Settlement
Apple Briefly Crosses Five Trillion Dollar Valuation as Investors Retreat From AI Bets
Badenoch Offers Tory Votes to Keep Serious Offenders in Prison
Why Americans Queue for $15 Ice Cream and a $100 Caviar Pint
Another AI Genius Left the United States — and Silicon Valley Is Starting to Worry
Shein Reports $99mn Loss as Trade Barriers Test Low-Cost Model
CXMT Gains 466% in China’s Biggest IPO Since 2010
Amazon Seeks Approval for 5,105-Satellite Mobile Network
Burnham Puts School-to-Work Reform at Centre of Welfare Strategy
Burnham Rules Out Replacing Council Tax and Stamp Duty
Fresh Heatwave Threatens to Rekindle France’s Historic Wildfire Crisis
Following OpenAI's Cyberattack: 'Most Companies Still Do Not Understand What Is Coming'
Autopsy Finds No Violence in Death of Epstein-Linked Model Scout
Indian Education Minister Resigns After Cockroach Youth Protests
California Desert Data-Centre Plan Stalls as Water and Power Disputes Mount
War, Youth Revolt and the Global Struggle for Control
War, Power and the Rising Price of Political Decisions
Badenoch Rejects Grant Shapps' Bid to Return as Conservative Candidate
BAE Chief Warns Britain Has Underestimated the Risk of War
Burnham Rules Out New Scottish Independence Referendum in First Talks With Swinney
OpenAI Sued After ChatGPT Allegedly Discouraged Emergency Care Before Near-Fatal Embolism
Viral Video Raises Questions Over Twelve-Dollar Croissants at Manhattan Bakery
Miliband Sets Climate and International Law at Centre of UK Diplomacy
US Gasoline Returns to $4 as Renewed Iran Fighting Disrupts Oil Flows
Czech Central Bank Governor Rejects Early Euro Entry and Rate-Cut Pressure
Trump Orders 50% Tariffs on Selected Canadian Imports
×