A “Wolf of Wall Street” will spend the next decade in a federal pen.
Former Goldman Sachs banker Roger Ng was sentenced to 10 years in prison on Thursday for his role in helping to loot billions of dollars from Malaysia’s 1MDB sovereign wealth fund.
U.S. prosecutors said $4.5 billion of that sum was embezzled by officials, bankers and their associates, in one of the biggest scandals in Wall Street history. The funds were used to buy high-end real estate, jewelry and artwork, and finance the Hollywood film “The Wolf of Wall Street,” according to the Department of Justice.
“Foreign corruption undermines the public’s confidence in international markets and institutions,” prosecutors wrote. “It destroys people’s faith in their leaders and it is deeply unfair to everybody else who plays by the rules.”
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