Case

United States v. NG Chong Hwa

Docket Number

18-CR-00538

Overview

Ng Chong Hwa, aka Roger Ng, a former managing director of The Goldman Sachs Group Inc. (Goldman Sachs) was sentenced today to 10 years in prison for his role in a multibillion-dollar bribery and money laundering scheme involving Malaysia’s state-owned investment and development fund, 1Malaysia Development Berhad (1MDB). As part of the scheme, Ng and his co-conspirators, including Tim Leissner, the former Southeast Asia Chairman and participating managing director of Goldman Sachs, conspired to and did pay more than $1 billion in bribes to 12 government officials in Malaysia and the United Arab Emirates to obtain and retain lucrative business for Goldman Sachs, including the 2012 and 2013 bond deals. They also conspired to and did launder the proceeds of their criminal conduct through the U.S. financial system.
In August 2018, Leissner pleaded guilty to conspiring to launder money and conspiring to violate the FCPA. Leissner agreed to forfeit $43 million and shares of stock valued at more than $200 million and is awaiting sentencing. Co-defendant Low Taek Jho, aka “Jho Low,” was indicted in November 2018 and remains a fugitive.
In October 2020, Goldman Sachs and Goldman Sachs (Malaysia) Sdn. Bhd. (GS Malaysia), its Malaysian subsidiary, admitted to conspiring to violate the anti-bribery provisions of the FCPA in connection with the scheme. Goldman Sachs entered into a deferred prosecution agreement. GS Malaysia pleaded guilty in the U.S. District Court for the Eastern District of New York. Goldman Sachs paid more than $2.9 billion as part of a coordinated resolution with criminal and civil authorities in the United States, the United Kingdom, Singapore, and elsewhere.
In April 2022, Ng was found guilty by a jury of conspiring to violate the Foreign Corrupt Practices Act (FCPA) and conspiring to launder billions of dollars. In March 2023, Ng was sentenced principally to 10 years’ imprisonment.

On March 9, 2023, the defendant was sentenced to 10 years imprisonment.

This case was filed on October 3, 2018 in the Eastern District of New York.

This case was announced on November 1, 2018.

A superseding indictment was filed on December 20, 2020. A second superseding indictment was filed on December 20, 2021.

A jury returned a guilty verdict on all counts on April 8, 2022.

Date of Sentence: March 9, 2023

Related Document(s):

Indictment

Superseding Indictment

Second Superseding Indictment

Press Release (Indictment)

Press Release (Trial Conviction)