Goldman Sachs
Roger Ng 1MDB scandal

1MDB Scandal: Ex-Goldman Malaysia Boss Guilty

The former head of Goldman Sachs in Malaysia has been convicted for helping to orchestrate one of the world's biggest financial corruption scandals.A United States (US) jury found Roger Ng guilty on all charges in the trial, which concerned the looting of billions of dollars from Malaysia's 1MDB sovereign wealth fund.He is the only Goldman Sachs banker to face a jury over the scandal, which rocked Malaysian politics and forced the bank to pay billions in fines.He had pleaded not gui

9 April 2022
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Malaysia In US$3.9B 1MDB Settlement With Goldman

Malaysia reached a US$3.9 billion settlement with Goldman Sachs on Friday over the Wall Street titan's role in the 1Malaysia Development Berhad (1MDB) scandal in exchange for the country ending all criminal proceedings against the bank. Billions of dollars were looted from sovereign wealth fund 1MDB in a fraud that allegedly involved former prime minister Najib Razak and his cronies. The cash plundered from state coffers bankrolled a global spending spree, and was spent

25 July 2020
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Goldman pleads not guilty in Malaysia 1MDB case

Three units of Goldman Sachs pleaded not guilty Monday in Malaysia over the investment bank's alleged role in the multi-billion-dollar scandal at the country's sovereign wealth fund 1Malaysia Development Berhad (1MDB), official media reported.Huge sums were allegedly looted from the Malaysian fund in a globe-spanning fraud, which reportedly involved ex-leader Najib Razak and his inner circle.Goldman's role has been under scrutiny as it helped arrange a series of bond issues wor

26 February 2020
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Malaysia held talks with Goldman Sachs over 1MDB

Malaysia held talks with Goldman Sachs about dropping charges against three units of the Wall Street bank that prosecutors brought over the multi-billion-dollar 1MDB scandal, a report said Thursday.Huge sums were stolen from Malaysian state fund 1MDB in a fraud allegedly involving former leader Najib Razak and his cronies, and spent on everything from high-end real estate to a luxury super-yacht.Goldman's role has been under scrutiny as it helped arrange bond issues worth US$6.5 billion

18 October 2019
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US investigates Deutsche Bank over 1MDB

The United States (US) Department of Justice's mushrooming investigation into the scandal-ridden Malaysian state fund 1MDB has extended to Deutsche Bank, two people familiar with the matter said on Thursday.The big German bank, which announced deep job cuts earlier this week and is embroiled in other high-profile government probes, says it is cooperating with the investigation and maintains that it is a victim in the scandal.The Justice Department is looking into whether Deutsche Bank br

12 July 2019
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Ex-Goldman banker pleads not guilty in New York

Former Goldman Sachs Group Inc. banker Roger Ng is in plea talks to avoid a United States (US) trial on charges that he broke American anti-bribery laws and conspired to launder money embezzled from Malaysia’s state investment fund, 1MDB.Ng arrived in New York from Malaysia early Monday and appeared in federal court in Brooklyn, where he entered a not guilty plea.

7 May 2019
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Malaysia's ex-PM Najib to go on trial this week

Malaysia's toppled leader Najib Razak will go on trial this week over an extraordinary financial scandal that contributed to the downfall of his long-ruling coalition which has reverberated around the world.The former prime minister and his cronies are accused of stealing US$4.5 billion from Malaysian sovereign wealth fund 1MDB in a mind-boggling fraud that stretched from Switzerland to the Seychelles.The money was purportedly used to fund a global shopping spree – a US$250-million super

11 February 2019
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Malaysia charges Goldman over 1MDB scandal

Malaysia has filed criminal charges Monday against Goldman Sachs and two of its former employees over the alleged theft of billions of dollars, heaping fresh pressure on the Wall Street titan over the 1Malaysia Development Berhad (1MDB) scandal.Goldman subsidiaries and ex-bankers Tim Leissner and Ng Chong Hwa are accused of misappropriating US$2.7 billion, bribing officials and giving false statements in relation to bond issues they arranged for state fund 1MDB.Allegations that huge sums were

18 December 2018
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Goldman stung by 1MDB corruption scheme

A high-profile corruption probe that has spanned continents has landed its first direct blow at Goldman Sachs.At least three senior Goldman bankers were implicated by the United States (US) Department of Justice (DOJ) in a multiyear criminal enterprise that included bribing officials in Malaysia and elsewhere and laundering of hundreds of millions of dollars.

2 November 2018
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The ex-Goldman banker who quit to take over a Myanmar empire

When Melvyn Pun agreed to take his former boss to Myanmar in 2012, little did he know that the trip would cause him to quit his high-profile job at Goldman Sachs Group Inc.Melvyn had wanted to stay as head of corporate sales for Asia excluding Japan at Goldman, rather than join his father Serge’s empire – a sprawling conglomerate that runs businesses from real estate to the KFC chicken franchise in Southeast Asia’s poorest nation.

17 January 2018
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