SINGAPORE, Sept 5 — Singapore’s central bank, the Monetary Authority of Singapore , said on Tuesday that it had issued a lifetime ban against Ng Chong Hwa, the former managing director of Goldman Sachs embroiled in the 1MDB scandal.
“Mr Ng’s severe misconduct has given MAS reason to believe that it would be contrary to public interest to allow him to carry on business as a representative,” MAS said. Ng is also banned from providing any financial advisory services under the Financial Advisers Act 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, the MAS added.
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