Malaysian prosecutors will charge a former Goldman Sachs Group Inc banker on Wednesday (Dec 19), says a person familiar with the matter, after an oversight earlier in the day delayed his extradition process to the United States.
- Ng arrested in Nov by Malaysian police
- Remanded for 60 days
- To surrender RM123 million which will be repatriated from Singapore to Malaysia
- Facing charges in Malaysia and US
Updated: Charged and claimed trial at the Kuala Lumpur Sessions Court today on four counts of abetting Goldman Sachs pertaining to the sale of guaranteed notes and bonds belonging to a 1MDB subsidiary amounting to US$6.5 billion by omitting material facts and making false statements. Court allowed bail at RM1 million and ordered passport to be surrendered. Fixed March 18, 2019, for mention. Ng represented by Datuk Tan Hock Chuan.
Roger Ng will face charges at 2.30pm in a Kuala Lumpur court, according to the person, who asked not to be identified as the information is private.
He didn’t show up for his extradition hearing earlier on Wednesday as prosecutors weren’t aware that his attendance was necessary, Deputy Public Prosecutor Shukor Abu Bakar said, adding a new date has been set for Jan 4.
Ng could be stuck in the middle of a tug-of-war between the United States and Malaysia as he is set to face charges in both countries linked to his involvement in 1Malaysia Development Berhad (1MDB) transactions arranged by Goldman.
Last month, Ng was said to be seeking a review of the order to extradite him to the United States, where he would face money laundering and bribery charges linked to troubled state fund 1MDB.
Malaysia’s Attorney-General said on Monday that Ng will “soon” be charged as part of a batch of criminal allegations against Goldman’s units, former bankers and ex-1MDB employees for his role in alleged false statements made to a financial regulator.
Goldman will “vigorously contest” the charges, which it said came without a chance for the firm to provide its view.
“Certain members of the former Malaysian government and 1MDB lied to Goldman Sachs, outside counsel and others about the use of proceeds from these transactions,” the bank said in an emailed statement on Monday (Dec 17).
Ng was deputy to Tim Leissner, Goldman’s former South-East Asia chairman, who has pleaded guilty to conspiring to launder money allegedly syphoned from 1MDB and paying bribes to Malaysian and Abu Dhabi officials.
In November, Ng and his family had agreed to surrender about S$40 million (RM123 million) to the authorities in neighbouring Singapore, who would then repatriate the funds to Malaysia, according to people familiar with the matter.
The US Department of Justice today filed an extradition request for Ng who is facing three counts of offences in absentia at the New York east district court.
He is charged with anti-bribery provisions under the US Foreign Corrupt Practices Act.
Ng also faces a second charge for violating internal accounting control provisions under the same act and conspiracy to commit money-laundering under the same act.
The US DOJ classifies the offences as “very serious” punishable with up to a US$250,000 fine and a jail term up to a maximum of five years for the first charge alone.
It was previously reported that the High Court had last week dismissed Ng’s application to be released on bail pending the extradition hearing.