Fed Bans 2 Ex-Goldman Bankers Over 1MDB Scandal

Law360 (March 12, 2019, 7:50 PM EDT) -- Two former Goldman Sachs bankers who allegedly conspired to launder billions of dollars swiped from 1Malaysia Development Berhad were banned from the banking industry, and one will pay a $1.4 million fine, the Federal Reserve Board announced Tuesday.

Ex-Goldman managing directors Tim Leissner and Roger Ng, along with a host of unnamed co-conspirators, schemed to misappropriate more than $2.7 billion from 1MDB that was laundered and used in part to bribe government officials in Malaysia and Abu Dhabi, according to October criminal indictments unsealed in November.

Financier Jho Low was also named in the October criminal indictment but was not mentioned by...

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October 3, 2018


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