Ex-Goldman banker Roger Ng deserves 15 years in prison, US prosecutors say
Sign up now: Get ST's newsletters delivered to your inbox
In his own sentencing request, Roger Ng (right) asked that he be given no prison time and be allowed to return to Malaysia.
PHOTO: REUTERS
Follow topic:
NEW YORK – US 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
A jury in Brooklyn federal court had last April found Ng, Goldman’s former head of investment banking in Malaysia, guilty of helping his former boss Tim Leissner embezzle money
Leissner had been Goldman’s South-east Asia chief.
US District Judge Margo Brodie is expected to sentence Ng on March 9.
In his own sentencing request on Feb 25, Ng asked that he be given no prison time
He had spent six months in a Malaysian prison
The charges stem from some US$6.5 billion (S$8.7 billion) in bonds that Goldman helped 1MDB, which was founded to finance development projects in Malaysia, sell in 2012 and 2013.
Prosecutors said US$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 US$2.9 billion and its Malaysian unit pleaded guilty to a corruption charge.
Ng had pleaded not guilty and argued that the US$35 million in kickback payments he was accused of receiving was actually a return on an investment his wife had made.
Leissner pleaded guilty and testified against Ng as part of a cooperation agreement. He has not yet been sentenced. REUTERS
