The looting of billions of dollars from the 1Malaysia Development Berhad fund was masterminded by Jho Low, a Malaysian financier who’s now a fugitive. The US claims Low took US$1.42 billion, enriched the country’s former prime minister by almost US$800 million and funneled hundreds of millions of dollars more to corrupt officials in Malaysia and the United Arab Emirates.
The 10-year prison sentence handed down to former Goldman Sachs Group Inc. banker Roger Ng shows the enormous risk he took by going to trial to fight charges that he helped carry out the massive 1MDB fraud.
It also raises a question about how much prison time a US judge will impose on Ng’s former boss, Tim Leissner, who pleaded guilty and testified against him as the government’s star witness, when Leissner is sentenced in September.
