MAS slaps former Goldman Sachs managing director with lifetime prohibition orders

Roger Ng was involved in the 1MDB financial scandal.

The Monetary Authority of Singapore (MAS) has banned Ng Chong Hwa, also known as Roger Ng, from performing any regulated activity under the Securities and Futures Act (SFA) and from providing any financial advisory services under the Financial Advisers Act (FAA) for life.

Ng has also been barred from “taking part in the management, acting as a director, or becoming a substantial shareholder, of any capital market and financial advisory services firm under the SFA and FAA.”

MAS issued lifetime prohibition orders (POs) against Ng following his conviction in the United States “for conspiracy to launder monies embezzled from 1Malaysia Development Berhad (1MDB) and violation of the United States’ Foreign Corrupt Practices Act (FCPA).”

Ng, who was sentenced to 10 years of imprisonment, conspired with others to launder billions of dollars misappropriated from 1MDB, “including funds raised by 1MDB through three bond offering transactions underwritten by The Goldman Sachs Group, Inc. and its subsidiaries and affiliates,” according to MAS.

Follow the link for more news on

MAS

The people you want to reach are already in this room.

Every quarter, SBR lands on the desks of the founders, CFOs, and directors running Asia's most consequential companies. Every day, they open our newsletter and read our website. It's a room that took twenty years to build — and it's the one most of our partners are trying to get into.

The good news is that the door is open. We work with companies on thought leadership articles, sponsored content, industry summits across Southeast Asia, regional awards programmes, podcasts, and media placements in print and digital. The shape of the right partnership depends on what you're trying to do, which is why we'd rather start with a conversation than send a rate card.

If you have something this room should know about, tell us. We'll tell you honestly whether we can help, and how.

No rate cards until we understand the brief. It's a better use of everyone's time.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia