MAS imposes lifetime ban on ex-Goldman Sachs banker Roger Ng over 1MDB money laundering

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MAS imposes lifetime ban on ex-Goldman Sachs banker Roger Ng over 1MDB money laundering
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Ng was sentenced by a US court to 10 years in prison for his role in the 1MDB conspiracy. Read more at straitstimes.com.

SINGAPORE – The Monetary Authority of Singapore on Tuesday issued lifetime prohibition orders against former Goldman Sachs banker Roger Ng, after his conviction in the United States for money laundering offences tied to 1Malaysia Development Berhad funds.

Both Acts prohibit the Malaysian, also known as Ng Chong Hwa, from managing, acting as a director of, or becoming a substantial shareholder of any capital market and financial advisory services firm.by a New York court in March. He was found guilty of conspiring with his former Goldman boss Tim Leissner and Malaysian financier Jho Low in the multibillion-dollar scandal involving 1MDB, the now-defunct Malaysian sovereign wealth fund.

An MAS statement said Ng’s “severe misconduct” has led Singapore’s central bank to believe that it would be “contrary to public interest” to allow him to conduct business in the Republic.

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