Former Goldman Sachs banker Roger Ng pleads not guilty in Malaysia's 1MDB fraud case

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NEW YORK (NYTIMES) - A former Goldman Sachs banker charged last year in connection with the looting of billions of dollars from a Malaysian sovereign wealth fund pleaded not guilty in Brooklyn federal court on Monday (May 6), just hours after being flown back to the United States.. Read more at straitstimes.com.

NEW YORK - A former Goldman Sachs banker charged last year in connection with the looting of billions of dollars from a Malaysian sovereign wealth fund pleaded not guilty in Brooklyn federal court on Monday , just hours after being flown back to the United States.

"Roger has pleaded not guilty and will at least consider all options available to every defendant at the inception of a case," Mr Agnifilo said. The charges against both men relate to an alleged scheme by the country's former leaders to plunder 1MDB, which used Goldman's investment banking services to issue US$6 billion in bonds meant to finance infrastructure projects in the country. Instead, prosecutors say, the former prime minister, Najib Razak, his family and a financier, Jho Low, spent a large portion of the money on jewels, jets and artwork.

"We continue to cooperate with all relevant authorities as the process continues to move forward," Mr Michael DuVally, a Goldman spokesman, said in a statement. The 1MDB scandal reached halfway around the globe and into the highest reaches of power in Malaysia. It led to Najib's downfall when he lost his re-election bid last May and was arrested by Malaysian authorities in July.

 

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