Ex-Goldman Exec Pleads Not Guilty In US 1MDB Case

Law360 (May 6, 2019, 12:52 PM EDT) -- A former Goldman Sachs Group Inc. managing director appeared and pled not guilty in Brooklyn federal court on Monday after being extradited from Malaysia to face U.S. charges in the alleged $2.7 billion fraud on Malaysia's sovereign wealth fund, 1Malaysia Development Bhd.

Ng Chong Hwa, who also goes by Roger Ng, pled not guilty to two counts of conspiracy to violate the Foreign Corrupt Practices Act and one count of conspiracy to commit money laundering. Ng is accused of a scheme to misappropriate $2.7 billion from some $6 billion 1MDB raised through bonds Goldman underwrote in 2012 and 2013. Prosecutors say...

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