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Ex-Goldman Sachs Banker Convicted for His Role in a $4 Billion Fraud



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A former Goldman Sachs banker was convicted Friday on bribery and money laundering charges stemming from a globe-spanning fraud scandal: the looting of more than $4 billion from a Malaysian sovereign wealth fund.A federal jury found the former banker, Roger Ng, guilty after a nearly two-month trial in which the government’s key witness admitted to being a frequent liar. Even so, the jurors found Mr. Ng guilty of all three charges after more than two days of deliberation. He could face up to 30 years in prison.Breon Peace, the U.S. attorney for the Eastern District of New York, said the scheme to pilfer the fund known as 1MDB was “massive in its scale” and “brazen in its execution.”“Today’s verdict is a victory for not only the rule of law but also for the people of Malaysia for whom the fund was supposed to help by raising money for projects to develop their country’s e …

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