Former Goldman Banker Ng to Stand Trial for 1MDB Scandal

The video discusses the trial of Roger Ng, former head of Goldman's investment banking in Malaysia, who is charged with aiding Jho Low in laundering billions from 1MDB and violating US antibribery laws. The trial, delayed by COVID, is significant for Goldman Sachs, which has already paid a $5 billion fine. The process begins with jury selection and could last five weeks. Ng is the only Goldman banker to stand trial, while Tim Leissner has pleaded guilty. The case highlights a major financial scandal involving a state investment fund, with $4.5 billion allegedly siphoned off and $1.5 billion repatriated to Malaysia.

What financial penalties has Goldman Sachs faced due to its involvement in the scandal?

What is the estimated amount of money allegedly siphoned off from 1MDB?