Roger Ng gets 30-day delay on jail sentence

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A US court yesterday granted former Goldman Sachs Group banker Roger Ng a last-minute deferment of his 10-year jail sentence over his role in the 1Malaysia Development Bhd (1MDB) scandal, Bloomberg reports.

Ng had been scheduled to begin his prison sentence on Monday. He has since been allowed to delay his surrender by 30 days to allow for negotiations between the United States and Malaysian governments over his possible return to aid in the sovereign wealth fund probe.

Bloomberg reported that US prosecutors were opposed to the delay, as this meant Ng would be free for even longer.

“He wants to go back to Malaysia where he will continue to be free,” assistant US attorney Drew Rolle told New York district judge Margo Brodie.

Rolle told the court there was strong public interest for Ng to immediately begin his jail sentence, and that the latter, even while in custody, would still be able to help the Malaysian government in the probe.

Ng’s lawyers had sought a 45-day delay, saying the Malaysian government wanted Ng back under a previous agreement with the US.

“They want my client in Malaysia. They want to finish their case,” Ng’s lawyer Marc Agnifilo reportedly said.

Ng was convicted in April last year of conspiring with his former boss Tim Leissner and financier Low Taek Jho in the multibillion-dollar looting of 1MDB.

Ng was said to have received millions of dollars in kickbacks from three bond deals Goldman Sachs arranged for 1MDB.

The bank paid more than US$2.9 billion (RM13.21 billion), the largest penalty of its kind in US history, and more than US$5 billion globally for its role in the scheme. – TMI