A US district judge has ordered former Goldman Sachs banker Roger Ng to be returned to Malaysia to face charges related to the scandal-ridden 1MDB sovereign wealth fund
According to a report by Reuters, chief US district judge Margo Brodie in Brooklyn ordered Ng's surrender to the US Marshals Service by Friday (today) so he could be turned over to Malaysian law enforcers, who would then be transporting him here.
Ng is already facing 10 years in prison after being convicted in New York of helping loot billions of dollars from 1MDB and would be required to begin his prison term upon returning to the United States.
The surrender date was initially scheduled for Sept 6 but was delayed after prosecutors requested more time.
Malaysian national Ng (above) was formerly Goldman's head of investment banking in Malaysia and was sentenced in March, 11 months after jurors found him guilty of helping former Goldman boss Tim Leissner to embezzle money from 1MDB, launder the proceeds, and bribe government officials to win business.
The case involves some US$6.5 billion in bonds that Goldman helped 1MDB sell in 2012 and 2013.
US prosecutors said officials, bankers, and their associates embezzled about US$4.5 billion of that sum.
Leissner's sentencing is now scheduled for March 19, 2024, while fugitive financier Low Taek Jho, better known as Jho Low, alleged to be the mastermind behind the theft of funds, is still on the run. - Mkini
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