Anti-Financial Crime & Financial Crime Compliance
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Singapore’s central bank bans ex-Goldman banker Ng for life over 1MDB


By Yantoultra Ngui and Chen Lin

Singapore’s central bank, the Monetary Authority of Singapore (MAS), said on Tuesday that it had issued a lifetime ban against Ng Chong Hwa, the former managing director of Goldman Sachs (Singapore) embroiled in the 1MDB scandal.

The order follows the conviction of Ng, who is also known as Roger Ng, in the United States for conspiracy to launder money embezzled from the Malaysian state 1Malaysia Development Bhd, or 1MDB, and violation of the U.S. Foreign Corrupt Practices Act (FCPA).

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