Ex-Goldman banker Roger Ng found guilty in 1MDB fraud trial

Ex-Goldman banker Roger Ng found guilty in 1MDB fraud trial

A US jury has convicted former Goldman Sachs banker Roger Ng in connection with the multibillion-dollar 1MDB embezzlement, handing prosecutors a high-profile victory in a scandal that has reverberated from Malaysia and Singapore to Wall Street.

After a trial lasting nearly two months, and four days of deliberation, jurors on Friday found Ng, 49, guilty on all three counts in the case, including conspiring to violate US anti-bribery laws and conspiring to launder money. He faces up to 30 years in prison.

The conviction is a landmark win for US authorities who have dedicated years to bringing a case in connection with the fraud, in which the US Department of Justice alleges $4.5bn was misappropriated from the Malaysian state investment fund.

“The verdict is in: Roger Ng is guilty, convicted on all three counts,” the US Attorney’s Office for the Eastern District of New York said on its official Twitter account.

Ng, his former boss Tim Leissner and Malaysian financier Jho Low were all charged by the DoJ. Leissner has pleaded guilty and is awaiting sentencing, while Low maintains his innocence and remains at large.

Kenneth Polite, head of the DoJ’s criminal division, said Ng had “participated in a massive and unprecedented bribery and money