March 12, 2019 / 2:17 PM / 2 months ago

U.S. Fed sanctions former Goldman Sachs bankers over 1MDB money-laundering scandal

WASHINGTON, March 12 (Reuters) - The U.S. Federal Reserve said on Tuesday it has sanctioned former Goldman Sachs bankers for their role in a money-laundering scandal involving 1Malaysia Development Berhad (1MDB), Malaysia's state-owned investment fund.

Tim Leissner and Roger Ng have been permanently barred from the banking industry for their involvement in "a scheme that illegally diverts billions of dollars from a Malaysian sovereign wealth fund."

Leissner did not admit or deny the charge, but agreed to a $1.42 million fine. (Reporting by Katanga Johnson; Editing by Bernadette Baum)

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