Jury selection to begin in ex-Goldman banker’s 1MDB corruption trial -Breaking
[ad_1]
© Reuters. FILE PHOTO – Roger Ng, an ex-Goldman Sachs banker, leaves New York’s federal court on May 6, 2019. REUTERS/Jeenah Moon/File PhotoNEW YORK, (Reuters) – Jury selection will begin Monday for the U.S. corruption case against a former Goldman Sachs banker (NYSE:), who is accused of taking billions from Malaysia’s 1MDB sovereign asset fund.
Roger Ng was Goldman’s ex-head of Malaysian investment banking. He pleaded guilty to conspiracy to violate anti-bribery laws and to launder money. This is in relation to the alleged theft of billions from the fund.
Goldman sold bonds worth $6.5 billion for 1MDB. This fund was established by Najib Razak, the former Prime Minister of Malaysia. Officials claim that fund officers and their accomplices stole some money for luxuries while Goldman bankers paid $1.6 billion to Abu Dhabi and Malaysian officials to facilitate 1MDB business.
Goldman, in 2020, agreed to pay $2.9B in penalties to Malaysia and for a Malaysian unit to admit criminal wrongdoing. This was in response to U.S. Department of Justice investigations and other authorities looking into Goldman’s role in 1MDB.
Margo Brodie, U.S. District Judge is scheduled to ask prospective jurors if they are fair and impartial.
Brodie has suggested both defense and prosecution lawyers asking jurors questions about their work connections to Malaysia or Abu Dhabi. Ng’s defence lawyers proposed to prospective jurors asking them if they have any views about Goldman Sachs and whether that view is “favorable” or not.
The trial’s opening statements are set to start next week at Brooklyn Federal Court.
Ng was detained in Malaysia, November 2018, and then extradited six years later.
Another former Goldman banker Tim Leissner pleaded guilty to his part in the scandal in 2018. His sentence is set for March.
Fusion MediaFusion Media or any other person involved in the website will not be held responsible for any loss or damage resulting from reliance on this information, including charts, buy/sell signals, and data. Trading the financial markets is one of most risky investment options. Please make sure you are fully aware about the costs and risks involved.
[ad_2]
