(Bloomberg): Roger Ng, the only Goldman Sachs Group banker to be tried and convicted in the global 1MDB scandal, suffers from a “significant mental health condition.” and should not be sentenced to 15 years in prison as prosecutors demand.
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Ng, 51, will be sentenced Thursday before U.S. District Judge Margo Brodie in Brooklyn, New York. The former managing director, who was convicted in April, said a court-appointed psychiatrist found he suffered from chronic post-traumatic stress disorder, he told a judge Wednesday. said in a letter.
That PTSD is “likely exacerbated by any experience of being confined or reacting to his trauma,” writes his attorney Mark Agnifilo. “Further incarceration will exacerbate this serious mental health condition.”
Federal Attorney Breon Peace’s office sought a lengthy sentence for Ng because he was a key player in a conspiracy to loot billions of dollars in Malaysian funds. He called for a sentence without prison time in the United States, arguing that the six months and four years of house arrest he spent in a Malaysian prison before being sentenced to death were sufficient punishment.
Agnifilo on Wednesday also claimed that Ng deserved leniency because the Malaysian government was “perfected” because he waived a $35.1 million claim that had been seized from his account.
Prosecutors, however, argue that Brody should ignore Ng’s pleas regarding jail time.
“Roger Ng played a key role in a massive bribery and money laundering scheme that stole billions of dollars aimed at infrastructure and economic projects to help Malaysians,” prosecutors said in court. stated in the document. They urged Brody to “send a message to other professionals in the financial industry looking to profit or win business through fraud or bribery.”
Ng and his former Goldman boss, Tim Leissner, have been accused of colluding with Malaysian investor Joe Low, the alleged mastermind behind the scheme. Mr. Low paid tens of millions of dollars in bribes to officials in Malaysia and Abu Dhabi to complete bond deals arranged by Goldman for $1.42 billion. Law, who was indicted along with Eun, is a fugitive.
less time for Leissner
Leissner pleaded guilty and was a key government witness in Ng’s trial. He will be sentenced in September, but his cooperation will likely shorten his sentence. Prosecutors say Leisner earned his $73.4 million on the scheme.
Former Malaysian Prime Minister Najib Razak received $756 million and Kadem Al Qubaisi, former managing director of state-owned international oil investment company in Abu Dhabi, who guaranteed 1MDB’s deal, received $472.8 million A forensic accountant with the Federal Bureau of Investigation testified. at the trial of Ng.
Goldman has paid US authorities more than $2.9 billion and more than $5 billion worldwide for its role in the scheme. The company’s Malaysian arm pleaded guilty to one count of conspiracy against him in the United States. The U.S. penalty for Goldman Sachs was the largest ever for violating the Foreign Corrupt Practices Act, a fact Agnifilo highlighted Wednesday.
“The government is already sending the world a message about Goldman Sachs when it receives funding for its deferred prosecution agreement,” Agnifilo wrote Wednesday.
Jeff Ifrah, a white-collar defense attorney and expert on federal sentencing guidelines, said Ng would have a hard time convincing judges to pass the sentence while he was in prison. He said the scale of the fraud was a factor when it came to sentencing, and the scale of the looting at 1MDB suggested Ng could take as long as his 30 years.
“Beyond that range, it’s like launching a nuke in Times Square,” Ifra said.
The case is US v. Ng, 18-cr-538, United States District Court, Eastern District of New York (Brooklyn).
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