PETALING JAYA: Former Goldman Sachs banker Roger Ng has been granted a conditional discharge on financial malpractice charges pending the conclusion of a trial in the United States for bribery and money laundering.
The Edge reported that the discharge was granted by a High Court judge in Kuala Lumpur at the request of the prosecution.
Deputy public prosecutor Zaki Asyraf Zubir said the request was made as Ng is awaiting sentencing next month in Brooklyn, New York.
After sentencing, Zaki said that Ng would most likely still be in the US until 2024 for the appeal process.
A DNAA means that Ng is discharged from the charges for the time being, but he can be prosecuted for the same charge again.
For the trial here, Ng is facing charges under the Capital Markets and Services Act 2007 (CMSA).
Ng is facing four counts of violating the CMSA, namely abetting Goldman Sachs in the sale of notes and bonds belonging to 1MDB subsidiaries by omitting material information and publishing untrue statements.
He is charged under Section 370(c) of the CMSA, which carries a punishment of up to 10 years’ imprisonment and a fine of at least RM1 million, upon conviction.
Last year, after an eight-week trial, Ng was convicted of conspiring to violate US anti-bribery laws and conspiring to launder money. He faces at least 30 years in prison.
Ng is the only Goldman Sachs Group banker to go on trial in the global fraud. He is accused of taking US$35.1 million in kickbacks to help Malaysian financier Low Taek Jho, also known as Jho Low, steal US$2.7 billion from 1MDB. - FMT
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