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Ng Found Guilty Of FCPA And Related Offenses

RogerNg

As highlighted here, in November 2018 the DOJ announced criminal Foreign Corrupt Practices Act (and related charges) against individuals associated with Goldman Sachs – including Roger Ng (a former managing director at Goldman Sachs) – for paying bribes to various Malaysian and Abu Dhabi officials in connection with 1Malaysia Development Berhad (1MDB), Malaysia’s state-owned and state-controlled investment development company. The individuals were also charged with conspiring to launder billions of dollars embezzled from 1MDB.

As highlighted here, in September 2021 U.S. District Court Judge Margo Brodie (E.D.N.Y) denied Ng’s motion to dismiss to certain charges paving the way for a rare FCPA trial.

The trial began in mid-February and today Ng was convicted of FCPA and related charges.

As reported by Law360:

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Ng Trial Paused As DOJ Acknowledges Its Own “Inexcusable” Error

Inexcusable

As discussed in this prior post, judicial findings of prosecutorial misconduct or other mishaps have been an all too frequent feature in contested individual Foreign Corrupt Practices Act enforcement actions.

This recent post highlighted the start of the FCPA (and related) trial of Roger Ng (a former managing director at Goldman Sachs) for allegedly paying bribes to various Malaysian and Abu Dhabi officials in connection with 1Malaysia Development Berhad (1MDB), Malaysia’s state-owned and state-controlled investment development company.

As highlighted here, the trial has been paused due to – in the words of the DOJ – an “inexcusable” error by the government. Specifically, the DOJ has acknowledged that it has failed to produce to the defense 15,500 documents of co-defendant Tim  Leissner (a former Southeast Asia Chairman at Goldman Sach and Participating Manager Director who pleaded guilty and is cooperating with the government). As highlighted here, the DOJ further described the error as a “total institutional failure.”

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Ng Trial Begins

RogerNg

As highlighted here, in November 2018 the DOJ announced criminal Foreign Corrupt Practices Act (and related charges) against individuals associated with Goldman Sachs – including Roger Ng (a former managing director at Goldman Sachs) – for paying bribes to various Malaysian and Abu Dhabi officials in connection with 1Malaysia Development Berhad (1MDB), Malaysia’s state-owned and state-controlled investment development company. The individuals were also charged with conspiring to launder billions of dollars embezzled from 1MDB.

Unlike co-defendant Tim Leissner (the former Southeast Asia Chairman at Goldman Sach and Participating Manager Director) who pleaded guilty and is cooperating with the government, Ng is putting the DOJ to it burden of proof.

As highlighted here, in September 2021 U.S. District Court Judge Margo Brodie (E.D.N.Y) denied Ng’s motion to dismiss to certain charges paving the way for a rare FCPA trial.

The trial began earlier this week.

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Hats Off To Urofsky

hatsoff

Shearman & Sterling recently released its annual “Recent Trends and Patterns in the Enforcement of the Foreign Corrupt Practices Act.”

Year in and year out, it is one of the best law firm generated FCPA year in review publications.

For years, Philip Urofsky (a former Assistant Chief of the DOJ Fraud Section where he handled FCPA matters) has been a primary author of the publication and in connection with this year’s release Urofsky announced that it would be his last “FCPA Trends and Patterns” publication as he is retiring.

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Friday Roundup

Roundup

A quite September, to FCPA Inc., Ng commentary, and discontinued.

It’s all here in the Friday roundup.

Quiet September

As highlighted in this prior post, September has historically been a very active month for FCPA enforcement as the SEC’s fiscal year ends on September 30th.

While the SEC did announce the WPP enforcement action on September 24th (see here and here for prior posts), for the second consecutive year, September FCPA enforcement was below historical norms.

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