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☆ Explainer: Goldman Sachs and its role in the multi-billion dollar 1MDB scandal
▼ + stars: | 2023-10-12 | by ( ) www.reuters.com time to read: +5 min

The logo for Goldman Sachs is seen on the trading floor at the New York Stock Exchange (NYSE) in New York City, New York, U.S., November 17, 2021. 1MDB was a sovereign fund set up in 2009 with the help of Malaysian financier Jho Low to promote economic development. The United States has said the 1MDB case was its largest ever kleptocracy investigation. Low, a fugitive, has been charged in Malaysia and the United States over his central role in the case. Goldman has been investigated by regulators in at least 14 countries for its role in underwriting the 1MDB bond issues.

Persons: Goldman Sachs, Andrew Kelly, Najib Razak, Goldman, 1MDB, Jho Low, Najib, Low, GOLDMAN, Tim Leissner, Roger Ng, Goldman's, Anwar Ibrahim, Simon Cameron, Moore Organizations: New York Stock Exchange, REUTERS, Goldman Sachs, Malaysia, Malaysian, 1Malaysia, U.S . Department of Justice, The United, DoJ, United Malays National Organisation, GOLDMAN, London Court, Thomson Locations: New York City , New York, U.S, KUALA LUMPUR, The United States, Malaysia, United States, China, Beijing, MALAYSIA, Malaysian

☆ Former Goldman banker Ng to be returned in Malaysia in 1MDB case
▼ + stars: | 2023-10-05 | by ( Jonathan Stempel | ) www.reuters.com time to read: +2 min

In a letter filed on Thursday in Brooklyn federal court, U.S. prosecutors asked a judge to order Ng's surrender to the U.S. Marshals Service by Friday so he could be turned over to Malaysian law enforcement, who would transport him to their country. The case stemmed from about $6.5 billion in bonds that Goldman helped 1MDB sell in 2012 and 2013. Goldman settled with authorities in October 2020, agreeing to pay $2.9 billion and having its Malaysian unit plead guilty to a corruption charge. Ng had been arrested in Malaysia in November 2018, and agreed to be extradited to the United States.

Persons: Goldman Sachs, Roger Ng, Ng, Ng's, Ng Chong Hwa, Goldman, 1MDB, Margo Brodie, Tim Leissner, Jho, Jonathan Stempel, Richard Chang Organizations: U.S . Marshals, U.S, Malaysian, Thomson Locations: New York, Brooklyn, U.S, United States, Kuala Lumpur, Malaysian, Malaysia . U.S, 1MDB, Malaysia

☆ Former Goldman banker Ng to be returned to Malaysia in 1MDB case
▼ + stars: | 2023-10-05 | by ( Jonathan Stempel | ) www.reuters.com time to read: +2 min

Ex-Goldman Sachs banker Roger Ng and his lawyer Marc Agnifilo leave the federal court in New York, U.S., May 6, 2019. Marshals Service by Friday so he could be turned over to Malaysian law enforcement, who would transport him to their country. The case stemmed from about $6.5 billion in bonds that Goldman helped 1MDB sell in 2012 and 2013. Goldman settled with authorities in October 2020, agreeing to pay $2.9 billion and having its Malaysian unit plead guilty to a corruption charge. Ng had been arrested in Malaysia in November 2018, and agreed to be extradited to the United States.

Persons: Goldman Sachs, Roger Ng, Marc Agnifilo, Margo Brodie, Ng's, Ng, Brodie, Ng Chong Hwa, Goldman, 1MDB, Tim Leissner, Jho, Jonathan Stempel, Richard Chang 私 Organizations: REUTERS, Chief U.S, U.S . Marshals, U.S, Malaysian Locations: New York, U.S, Brooklyn, United States, Kuala Lumpur, Malaysian, Malaysia, 1MDB

"The United States is also working to ensure that the procedures governing the defendant's return to Malaysia will not unduly delay the service of his U.S. sentence," prosecutors said. Ng's lawyers agreed to the one-month delay, prosecutors said. The case stemmed from about $6.5 billion in bonds that Goldman helped 1MDB sell in 2012 and 2013. Agnifilo said at the hearing that Malaysia wanted Ng's cooperation with an ongoing 1MDB probe. Ng was arrested in Malaysia in Nov. 2018 and agreed to be extradited to the United States three months later.

Persons: Goldman Sachs, Margo Brodie, Roger Ng's, Marc Agnifilo, Goldman, 1MDB, Ng, Brodie, Drew Rolle, Agnifilo, Malaysia's, Tim Leissner, Jho, Luc Cohen, Bill Berkrot Organizations: U.S, Malaysia, United, Thomson Locations: Malaysia, New York, Brooklyn, Kuala Lumpur, United States, U.S

NEW YORK, March 24 (Reuters) - A U.S. judge on Friday ordered former Goldman Sachs Group Inc (GS.N) banker Roger Ng to forfeit $35.1 million, after sentencing him to 10 years in prison for helping loot billions of dollars from Malaysia's 1MDB sovereign wealth fund. Jho Low, a Malaysian financier and suspected mastermind of the scheme, was also indicted but remains at large. Goldman settled with authorities in October 2020, agreeing to pay $2.9 billion and having its Malaysian unit plead guilty to a corruption charge. Former Malaysian Prime Minister Najib Razak is serving a 12-year prison sentence after being convicted in a Malaysian court of receiving $10 million from a former 1MDB unit. Reporting by Luc Cohen and Jonathan Stempel in New York; Editing by Richard ChangOur Standards: The Thomson Reuters Trust Principles.

☆ Ex-Goldman banker Ng sentenced to 10 years in prison for 1MDB corruption case
▼ + stars: | 2023-03-10 | by ( ) www.cnbc.com time to read: +1 min

Ex-Goldman Sachs banker Roger Ng exits the Brooklyn Federal Courthouse after being sentenced for his part helping embezzle from Malaysia's 1MDB sovereign wealth fund, in Brooklyn, New York, March 9, 2023. Former Goldman Sachs banker Roger Ng was sentenced to 10 years in prison on Thursday, after he was convicted of helping loot billions of dollars from Malaysia's 1MDB sovereign wealth fund. The charges stem from some $6.5 billion in bonds that Goldman helped 1MDB, which was founded to finance development projects in Malaysia, sell in 2012 and 2013. U.S. prosecutors said $4.5 billion of that sum was embezzled by officials, bankers and their associates, in one of the biggest scandals in Wall Street history. Funds were used to buy high-end real estate, jewelry and artwork, and finance the Hollywood film, "The Wolf of Wall Street," according to the Department of Justice.

☆ Ex-Goldman banker sentenced to 10 years prison in 1MDB corruption case
▼ + stars: | 2023-03-09 | by ( ) edition.cnn.com time to read: +3 min

Former Prime Minister Najib Razak is serving a 12-year prison sentence after being convicted by a Malaysian court of receiving $10 million from a former 1MDB unit. He spent six months in a Malaysian prison before waiving his right to contest extradition to the United States in 2018. He pleaded guilty and testified against Ng as part of a cooperation agreement. Malaysian officials have said Low is in China, which Beijing denies. In October 2020, Goldman agreed to pay $2.9 billion and its Malaysian unit pleaded guilty to a corruption charge.

☆ Ex-Goldman banker Ng sentenced to 10 years prison in 1MDB corruption case
▼ + stars: | 2023-03-09 | by ( Luc Cohen | Thomson Reuters | Reports On The New York Federal Courts. Previously Worked As A Correspondent In Venezuela | ) www.reuters.com time to read: +3 min

☆ Ex-Goldman banker Ng deserves 15 years in prison, US prosecutors say
▼ + stars: | 2023-03-04 | by ( Luc Cohen | Thomson Reuters | Reports On The New York Federal Courts. Previously Worked As A Correspondent In Venezuela | ) www.reuters.com time to read: +2 min

In his own sentencing request on Feb. 25, Ng asked that he be given no prison time and be allowed to return to Malaysia. He had spent six months in a Malaysian prison before waiving his right to contest extradition to the United States in 2018. Prosecutors said $4.5 billion of that sum was embezzled by officials, bankers and their associates, in one of the biggest scandals in Wall Street history. In October 2020, Goldman agreed to pay $2.9 billion and its Malaysian unit pleaded guilty to a corruption charge. Leissner pleaded guilty and testified against Ng as part of a cooperation agreement.

☆ Ex-Goldman banker Roger Ng deserves 15 years in prison after 1MDB scandal, U.S. prosecutors say
▼ + stars: | 2023-03-04 | by ( ) www.cnbc.com time to read: +1 min

Roger Ng, a former banker for Goldman Sachs Group, exits from federal court in New York, U.S. on May 6, 2019. In his own sentencing request on Feb. 25, Ng asked that he be given no prison time and be allowed to return to Malaysia. U.S. prosecutors on Friday urged a judge to sentence former Goldman Sachs banker Roger Ng to 15 years in prison after he was convicted of helping loot billions of dollars from Malaysia's 1MDB sovereign wealth fund. In October 2020, Goldman agreed to pay $2.9 billion and its Malaysian unit pleaded guilty to a corruption charge. Leissner pleaded guilty and testified against Ng as part of a cooperation agreement.

☆ Prison was 'brutal and distressing' says ex-Goldman Sachs banker who was locked up in Malaysia over the 1MDB scandal
▼ + stars: | 2023-03-01 | by ( Huileng Tan | ) www.businessinsider.com time to read: +4 min

US authorities convicted an ex-Goldman Sachs banker of bribery and money laundering in the 1MDB scandal. Ng, who also spent time in a Malaysian prison, said conditions were "brutal and distressing." "Six months in the Malaysian prison had a devastating effect mentally and physically," Ng wrote in his letter. The Malaysian Prison Department did not immediately respond to Insider's request for comment. In 2020, the former leader was sentenced to 12 years in prison for breach of trust, abuse of power, and money laundering in connection with 1MDB.

Companies Goldman Sachs Group Inc FollowFeb 25 (Reuters) - Roger Ng, the former Goldman Sachs Group Inc (GS.N) banker convicted for helping to embezzle Malaysia's 1MDB sovereign wealth fund, appealed to a New York court on Saturday not to force him to spend more time in prison. A federal jury in Brooklyn convicted Ng in April last year of conspiring to violate an anti-bribery law and commit money laundering. Reuters was not immediately able reach Malaysian prison officials to comment on the conditions. Prosecutors said that he helped his former boss Tim Leissner embezzle money from the fund, launder the proceeds and bribe officials to win business for Goldman. Reporting by Shivani Tanna and Chandni Shah in Bengaluru; Editing by Daniel WallisOur Standards: The Thomson Reuters Trust Principles.

[1/2] Ex-Goldman Sachs banker Roger Ng exits the Brooklyn Federal Courthouse (EDNY) after being found guilty for his part helping embezzle from Malaysia's 1MDB sovereign wealth fund, in Brooklyn, New York, U.S., April 8, 2022. REUTERS/Brendan McDermid/File PhotoNEW YORK, Nov 11 (Reuters) - Roger Ng, the former Goldman Sachs (GS.N) banker convicted for helping loot Malaysia's 1MDB sovereign wealth fund, on Friday sued the government's star witness Tim Leissner for more than $130 million, alleging fraud. A federal jury in Brooklyn convicted Ng in April of conspiring to violate an anti-bribery law and commit money laundering. Jho Low, a Malaysian financier and suspected mastermind of the looting, was also indicted in Brooklyn and remains at large. Reporting by Jonathan Stempel in New York; Editing by David GregorioOur Standards: The Thomson Reuters Trust Principles.

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