1MDB scandal: Ex-Goldman Malaysia boss found guilty

[muriel_volestrangler]

Source: BBC

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 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.
...
Mr Ng's lawyer said he was a "fall guy "and attacked the credibility of the government's star witness, Tim Leissner, who was Mr Ng's boss at Goldman Sachs and pleaded guilty to his role in the scandal in 2018.
...
Authorities say more than $4bn was stolen and spent on art, diamonds and property - even helping to finance Hollywood's Wolf of Wall Street film.

Read more: https://www.bbc.co.uk/news/business-61043609

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Leissner:

Leissner pleaded guilty in August 2018 to a count of conspiracy to violate U.S. anti-bribery laws and to conspiring to launder money. He was ordered to forfeit $44 million. Goldman paid $5 billion in fines and apologized for breaking the law.
...
Leissner hasn’t been sentenced yet and is free on $20 million bond. His guilty plea and cooperation in the case against Ng are meant to reduce his sentence, which is likely to be announced later this year.
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But U.S. authorities said Leissner was using bribes and kickbacks to get and retain 1MDB’s business, and that he embezzled from the fund for himself and others. More than $2.7 billion of the $6.5 billion raised was misappropriated, according to court filings.

Between mid-2012 and late 2014, “more than $200 million of the proceeds of the three 1MDB bonds and other 1MDB business was transferred” to accounts controlled by Leissner and a co-conspirator, the U.S. government said.

https://www.bloomberg.com/news/articles/2022-02-14/goldman-s-most-notorious-banker-turns-star-witness-in-1mdb-trial

$44 million is chickenfeed, considering the amount he stole. I hope there's a lengthy prison sentence awaiting him, and that giving evidence against Ng doesn't let him off. A banker ought to do significant jail time, for once.

[Initech]

1. A Goldman Sachs executive was in a financial corruption scandal?

[dixiegrrrrl]

2. One of tfg's henchmen was busted for this plot.

Remember the name Eliot Briody? Busted for illegal lobbying, even tho he didn't actually lobby, just grabbed the money. He promised the Malaysian higher ups he would get trump to somehow save them from prosecution of stealing the 1MDB profits.

Same kind of $$$ grab by Rudy and others who took huge "fees" to get trump pardons,
without any guarantees of success. Word has it Jared was among the pardon sellers.

It's like tfg had some sort of pheromone,every big & little crook jumped into the grifter pool even before the inauguration.