Malaysia: 1MDB Embezzlement Embroils Former Goldman Banker

Roger Ng, Goldman Sachs’s former head of investment banking in Malaysia is being charged with money laundering and bribery in the wake of his dealings with Malaysian sovereign wealth fund 1MDB.

Ng is pleading not guilty, claiming that he is being used as a fall guy.

The case concerns the sale of $6.5bn of bonds which Goldman helped 1MDB to sell in 2014. It is believed that $4.5bn of the funds raised from this deal were embezzled, while Goldman made $600m.

Ng is believed to have received $35m in kickbacks.

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