- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Adrianne Appel2023-03-10T20:40:00
Former Goldman Sachs Managing Director Roger Ng was sentenced Thursday to 10 years in prison for his role in the 1Malaysia Development Berhad (1MDB) fraud scandal.
Ng was found guilty by a federal jury in April 2022 of conspiring to violate the Foreign Corrupt Practices Act (FCPA) and commit money laundering.
Along with Tim Leissner, former chairman of Southeast Asia for Goldman Sachs, and Malaysian financier Jho Low, Ng helped steal and launder billions of dollars from the Malaysian state-owned investment and development fund between 2009 and 2014, according to the Department of Justice (DOJ).
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Goldman Sachs will pay a $15 million fine to settle charges from the Commodity Futures Trading Commission it manipulated the execution of same-day swaps to the detriment of unsophisticated clients and for failing to accurately disclose the actual cost of those swaps.
The experience of Xavier Andre Justo—the former Swiss banker turned whistleblower in the 1MDB scandal—shows those who speak up about bribery and corruption are often the only victims of the supposed “victimless crimes” they report.
Roger Ng, one of the central figures of the Goldman Sachs 1MDB scandal, was found guilty by a federal jury of conspiring to violate the Foreign Corrupt Practices Act and commit money laundering.
Three former executives of Chicago-based Outcome Health, a healthcare technology company, were sentenced for misleading an auditor, clients, lenders, and investors about a scheme to sell $45 million in overbilled advertisements.
A home health company operating in Indiana, Ohio, and Texas agreed to pay nearly $4.5 million to settle allegations it filed false claims by giving sports tickets and other kickbacks to assisted living facilities in exchange for referrals.
Crypto-friendly Silvergate Bank will pay a total of $63 million penalties to California and the Federal Reserve Board to settle charges that its anti-money laundering program failed to properly monitor more than $1 trillion worth of customer transactions.
