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Malaysian government charges ex-Goldman Sachs banker in 1MDB case


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Malaysian government charges ex-Goldman Sachs banker in 1MDB case

The Malaysian government charged Roger Ng with four counts of helping Goldman Sachs Group Inc. in providing misleading statements during the sale of the bonds that helped raise $6.5 billion for 1Malaysia Development Bhd., Reuters reported Dec. 19.

Ng, a former Goldman Sachs banker, appeared in court and made a not guilty plea to all charges filed against him, according to Reuters.

The charges against Ng came shortly after the Southeast Asian country filed criminal charges against three Goldman units in connection with their roles in the 1MDB scandal. In its charges, Malaysia accused the investment bank of failing to disclose Malaysian businessman Jho Low's role in 1MDB transactions and that it made misleading statements about how the proceeds from a $3 billion bond sale in 2013 will be used, Reuters said in a Dec. 18 report.

Former Goldman Sachs Southeast Asia Chairman Tim Leissner has also been charged by the Malaysian government, according to the report. Leissner previously pleaded guilty to the U.S. Justice Department to charges of conspiring money laundering, paying bribes to various government officials and circumventing Goldman Sachs's internal accounting controls. He was also ordered to forfeit $43.7 million. Previously, Goldman Sachs defended itself by saying that it was not given the chance to air its side and that it will contest all the charges filed against them.