The Monetary Authority of Singapore (MAS) has issued a life-long restraining order (PO) against Roger Ng, former managing director of Goldman Sachs (Singapore) Pte Ltd.。

This PO was issued after Mr. Huang was convicted in the United States for conspiracy to launder funds embezzled by One Horse Development Company Limited (1MDB) and violating the Foreign Corrupt Practices Act (FCPA).。

Pursuant to a purchase order effective September 5, 2023, Mr. Wong is permanently prohibited from engaging in any regulated activity under the Securities and Futures Act (SFA) and from providing any financial advisory services under the Financial Advisers Act (FAA).。He is also permanently prohibited from participating in the management, serving as a director or becoming a major shareholder of any capital markets, financial advisory services company under the SFA and FAA.。

Wong was convicted in the United States on April 8, 2022, and sentenced to 10 years in prison on March 9, 2023.。The court found that between 2009 and 2014, Huang and others, such as Tim Leissner, conspired to launder money, embezzling billions of dollars, all from 1MDB, including funds raised by 1MDB through three bond issue deals underwritten by Goldman Sachs Group Inc. and its subsidiaries and associates.。

As part of the scheme, Wong and his co-conspirators bribed government officials in Malaysia and Abu Dhabi to obtain and keep 1MDB's business.。They also conspired to circumvent Goldman Sachs Group's internal accounting controls related to three bond issuance transactions and other 1MDB operations.。

The MAS believes that given Mr Wong's serious misconduct, it would be against the public interest for him to continue leading the business.。