SINGAPORE: The Monetary Authority of Singapore (MAS) on Tuesday (Sep 5) issued lifetime prohibition orders against former Goldman Sachs banker Roger Ng, after his conviction for helping launder billions of dollars embezzled from Malaysia's 1MDB sovereign wealth fund. Goldman's former head of investmen
SINGAPORE: The Monetary Authority of Singapore on Tuesday issued lifetime prohibition orders against former Goldman Sachs banker Roger Ng, after his conviction for helping launder billions of dollars embezzled from Malaysia's 1MDB sovereign wealth fund.
Under the prohibition orders, which took effect from Tuesday, Ng, a Malaysian citizen, is banned from performing any regulated activity under the Securities and Futures Act and from providing any financial advisory services under the Financial Advisers Act. They also conspired to circumvent Goldman Sach’s internal accounting controls in connection with the three bond offering transactions and other 1MDB business.
Goldman helped 1MDB, which was founded to finance development projects in Malaysia, sell some US$6.5 billion in bonds in 2012 and 2013.