A former Goldman Sachs banker was convicted of helping loot hundreds of millions of dollars from a Malaysian development fund, marking the first U.S. conviction in one of the largest financial scandals in history. Roger Ng was found guilty of two counts of conspiring to violate the Foreign Corrupt Practices Act and one count of money laundering after he worked to take funds from Malaysia’s 1MDB development account and use it to garner business for Goldman Sachs. “Today’s verdict is a victory for not only the rule of law, but also for the people of Malaysia,” said Breon Peace, the U.S. Attorney for the Eastern District of New York. “The defendant and his cronies saw 1MDB not as an entity to do good for the people of Malaysia, but as a piggy bank to enrich themselves.” Ng’s lawyer said he may still appeal. Ng’s business partner Jho Low, who allegedly helped craft the scheme, is still on the run.