Wednesday, October 28, 2020

2 Former Goldman Executives Barred From Banking Industry After Malaysia Fraud Scandal

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The Federal Reserve on Tuesday barred two former Goldman Sachs executives from working in the banking industry because of their roles in a multibillion-dollar fraud involving a Malaysian government investment fund.

One of the executives, Tim Leissner, who was one of Goldman’s top investment bankers in Asia, has pleaded guilty in a federal criminal investigation of the fraud and has been ordered to forfeit about $44 million. The other executive, Roger Ng, has been charged in the United States with participating in money laundering and bribery, but is in custody in Malaysia.

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