Ex-Goldman banker Roger Ng in US to face 1MDB charges, says report

PETALING JAYA: Former Goldman Sachs banker Roger Ng, who has been charged in Malaysia and the US for his involvement in US$6.5 billion of bond sales arranged for troubled state fund 1MDB, has been sent to the US to face the charges against him there.

A source told The Edge Markets that Ng left Malaysia last Friday and is in the US under the watch of the Department of Justice (DoJ).

This follows a deal worked out with Malaysian investigators and the DoJ last week, the report said.

Ng was detained on Nov 1 last year according to a warrant of arrest applied by the US government. He was ordered to undergo a 60-day remand for extradition proceedings after three charges were filed against him in a court in New York.

Roger Ng.

He was charged in absentia together with former Goldman Sachs executive Tim Leissner and fugitive businessman Low Taek Jho, popularly known as Jho Low.

According to the charges, Jho Low and Ng conspired to launder billions of dollars embezzled from 1MDB and to violate the Foreign Corrupt Practices Act by paying bribes to Malaysian and Abu Dhabi authorities.

On Feb 15, Ng reportedly agreed to be extradited to the US to face the three criminal charges relating to 1MDB.

However, Home Minister Muhyiddin Yassin said in February that Attorney-General Tommy Thomas had advised that Ng’s extradition be carried out only after his cases in the Malaysian courts are completed.

“It is likely that Ng’s extradition will have to be postponed because priority is for his cases in Malaysia,” he said.

Last week, sources said Singaporean authorities are preparing to return about S$35 million (US$26 million) surrendered by Ng and his family in connection with the 1MDB scandal to Malaysia.

Both Ng and Leissner have been banned from the US financial industry by the Federal Reserve.