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Fed sanctions former Goldman Sachs bankers over 1MDB money-laundering scandal


Tim Leissner(pic) and Roger Ng have been barred from the banking industry for their involvement in "a scheme that illegally diverts billions of dollars from a Malaysian sovereign wealth fund," the Fed said.

Tim Leissner(pic) and Roger Ng have been barred from the banking industry for their involvement in "a scheme that illegally diverts billions of dollars from a Malaysian sovereign wealth fund," the Fed said.

WASHINGTON: The U.S. Federal Reserve said on Tuesday it had sanctioned two former Goldman Sachs Group Inc bankers for their roles in a money-laundering scandal involving 1Malaysia Development Berhad (1MDB), Malaysia's state-owned investment fund.

Tim Leissner and Roger Ng have been barred from the banking industry for their involvement in "a scheme that illegally diverts billions of dollars from a Malaysian sovereign wealth fund," the Fed said.

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