The Monetary Authority of Singapore has issued a lifetime industry ban to ex-Goldman banker Roger Ng over his involvement in the 1MDB scandal.
Former Goldman Sachs banker Ng Chong Hwa, also known as Roger Ng, has been banned for life by the Monetary Authority of Singapore (MAS) over his involvement in the 1DMB scandal, according to a statement, effective September 5.
Ng is permanently prohibited from performing any regulated activity under the Securities and Futures Act (SFA) and providing any financial advisory services under the Financial Advisers Act (FAA). He is also permanently prohibited from taking part in management, acting as director or becoming a substantial shareholder of any capital market and financial advisory services firm under the SFA and FAA.
Meanwhile, Ng was granted another delay to begin his 10-year prison sentence in a US federal prison. He was originally scheduled to begin serving his sentence on May 4 but was granted a 30-day postponement and now another delay for one month. He was convicted in 2022 for conspiring to violate US bribery laws and his involvement in the 1MDB money laundering scheme.
