Singapore’s central bank bans ex-Goldman banker Ng for life over 1MDB

Singapore’s central bank, the Monetary Authority of Singapore (MAS), said on Tuesday that it had issued a lifetime ban against Ng Chong Hwa, the former managing director of Goldman Sachs (Singapore) embroiled in the 1MDB scandal.
The order follows the conviction of Ng, who is also known as Roger Ng, in the United States for conspiracy to launder money embezzled from the Malaysian state 1Malaysia Development Bhd, or 1MDB, and violation of the U.S. Foreign Corrupt Practices Act (FCPA).
According to the MAS, under the prohibition order effective from Tuesday, Ng is permanently banned from performing any regulated activity under the Securities and Futures Act (SFA).
The MAS added, Ng is also banned from providing any financial advisory services under the Financial Advisers Act (FAA) and he is not allowed to take part in the management of any capital market and financial advisory services firm under the SFA and FAA.