A former Goldman Sachs banker has been sentenced to 10 years in prison for his role in looting a Malaysian development fund
NEW YORK — — A former Goldman Sachs banker was sentenced Thursday to 10 years in prison for his role in looting a Malaysian development fund of billions of dollars used to finance lavish parties, a superyacht, premium real estate and even the 2013 film “The Wolf of Wall Street.”by a U.S. District Court jury in Brooklyn, but he continues to deny charges that he conspired to launder money and violated two anti-bribery laws.
Ng had hoped that he would avoid prison time and be allowed to return to Malaysia, where he faces a separate prosecution. His lawyers argued that incarceration would worsen his “serious mental health condition.” One of them, Tim Leissner, Ng's former boss at Goldman Sachs, pleaded guilty in 2018 to bribing government officials in Malaysia and Abu Dhabi. He was ordered to pay $43.7 million and became a key government witness during Ng's two-month trial.Ng was allowed to leave the courthouse and will surrender to authorities in two months, unless the judge grants his request to remain released on bail while he appeals.
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