1MDB Trial Gives Courts Another Shot At Shaping FCPA Law
By Stewart Bishop (April 12, 2022, 9:58 PM EDT) -- A Brooklyn jury delivered a resounding victory to federal prosecutors last week by convicting former Goldman Sachs managing director Roger Ng over a scheme to misappropriate billions of dollars from Malaysian sovereign wealth fund 1MDB, yet an untested provision of the Foreign Corrupt Practices Act may prove fertile ground for a challenge on appeal.
Ng, his former boss Tim Leissner and Malaysian financier Jho Low were accused of facilitating three 1MDB bond deals worth $6.5 billion, underwritten by Goldman, that prosecutors said were propped up by billions of dollars in bribes and kickbacks.
After two months of trial, Ng was convicted...
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