Former Goldman Sachs banker Roger Ng was sentenced to 10 years in prison on Thursday. according to CNN.
“There is an urgent need to deter crimes of sheer greed like this,” said U.S. District Judge Margo Brodie.
ng was found guilty in April 2022 on three counts, including conspiracy to launder money. He was on trial for the “1MDB scandal”, which stole billions from the Malaysian sovereign wealth fund.
As Margo put it at trial, Ng “effectively stole money” from things like infrastructure support for people living in Malaysia. At one point, this scandal was investigated in five countries and even affected international diplomacy Wall Street Journal.
“Between 2012 and 2013, Defendant Roger Ng received more than $35 million in kickbacks for his role in the scheme to steal and launder billions of dollars from 1MDB, including funds raised by 1MDB in 2012 and 2013 through three bond transactions and the using that money for bribes,” said the U.S. law firm in the Eastern District of New York said in April.
Ng worked with, among others, Tim Leissner, who both pleaded guilty and testified against Ng, and former Malaysian Prime Minister Najib Razak, who portion 12 years in prison.