SINGAPORE: The Monetary Authority of Singapore (MAS) has issued a lifetime prohibition order (PO) against Ng Chong Hwa, also known as Roger Ng, a former managing director of Goldman Sachs (Singapore) Pte.
In a statement on Tuesday , MAS said the PO was issued following Ng's conviction in the United States for conspiracy to launder monies embezzled from 1Malaysia Development Bhd , and violation of the United States' Foreign Corrupt Practices Act .
He is also permanently prohibited from taking part in the management, acting as a director, or becoming a substantial shareholder, of any capital market and financial advisory services firm under the SFA and FAA, it added. The court found that sometime between 2009 and 2014, Ng conspired with others, including Tim Leissner, to launder billions of dollars misappropriated from 1MDB, including funds raised by 1MDB through three bond offering transactions underwritten by The Goldman Sachs Group, Inc and its subsidiaries and affiliates, it said.
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