A former Goldman Sachs banker was convicted on Friday on bribery and other corruption charges accusing him of participating in a $4.5 billion scheme to ransack the Malaysian state investment fund known as 1MDB.
A jury reached the verdict at the U.S. trial of Roger Ng in federal court in Brooklyn. Jurors heard nearly two months of evidence about tens of millions of dollars in bribes and kickbacks allegedly orchestrated by Malaysian financier and fugitive socialite Low Taek Jho, better known as Jho Low.
The embezzlement bankrolled lavish spending on jewels, art, a superyacht and luxury real estate. The spoils even helped finance wild parties and Hollywood movies,
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