Former Goldman Banker Got Millions In 1Mdb-Linked Kickbacks
02/15/22, 4:08 AM
Prosecutors on Monday accused a former Goldman Sachs banker of seeking to make millions of dollars laundering money looted from Malaysia’s 1MDB sovereign wealth fund, at the outset of a trial that could shed light on the bank’s response to warnings of corruption.
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The bank in 2020 paid a $2.3 billion fine, returned $600 million in ill-gotten gains and agreed for its Malaysian subsidiary to plead guilty in U.S. court as part of a deal, known as a deferred prosecution agreement (DPA).Wible said Ng helped two co-conspirators – his former boss, Timothy Leissner, and Malaysian intermediary Jho Low – launder funds embezzled from 1MDB and used some of the stolen money to bribe officials in the Southeast Asian country to win business for Goldman.