DOJ Sends Another $156M to Malaysia Under 1MDB Scheme
DOJ repatriated another $156 million in "misappropriated 1Malaysia Development Berhad (1MDB) funds to the people of Malaysia," bringing to about $1.4 billion the total returned to Malaysia from the international embezzlement scheme, the department announced June 13.
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The scheme saw over $4.5 billion laundered from 1MDB, Malaysia's former investment development fund, through many Western U.S. financial institutions from 2009 to 2015. As part of the scheme, Roger Ng, former managing director of The Goldman Sachs Group, was sentenced to 10 years in prison for violating the Foreign Corrupt Practices Act (see 2303090048).
Goldman paid over $2.9 billion to the U.S. and over $5 billion globally as punishment for the scheme, making it the largest FCPA penalty in history.