Ex-goldman banker told to hand over $35m in corruption case

A FORMER Goldman Sachs banker sentenced to 10 years in jail for his role in a multibillion-dollar fraud has been ordered to forfeit $35.1m (£28.6m).

Roger Ng, convicted over the 1MDB fraud, was ordered to forfeit the sum as ill-gotten gains from the conspiracy to loot the Malaysian sovereign wealth fund. Ng, 51, a Malaysian national, was convicted of conspiring to violate US anti-bribery laws and taking part in a money laundering scheme.

His former Goldman boss and 1MDB co-conspirator, Tim Leissner, previously pleaded guilty and was the US government’s star witness against Ng. He is due to be sentenced in September.

US District Judge Margo Brodie said the forfeitures were warranted given Ng’s role “in one of the largest financial crimes of all time”.

The judge wrote in her ruling: “The scheme resulted in enormous tangible harm, ie, the theft of $3bn.”