IGP: Probe against Roger Ng focuses on asset recovery

Recovering assets related to the 1MDB scandal will be the focus of the police’s probe against former Goldman Sachs banker Roger Ng, the country’s top cop said.

Inspector-General of Police Razarudin Husain revealed that Ng is being investigated under Section 409 of the Penal Code and Section 4(1) of the Anti-Money Laundering, Anti-Terrorism Financing, and Proceeds of Unlawful Activities Act 2001.

The former pertains to criminal breach of trust while the latter concerns money laundering.

“This is quite clear, the recovery of 1MDB assets is a focal point of the investigation,” Razarudin (above) told a press conference in Bukit Aman this morning.

Last Friday, the media reported that Ng, who was sentenced to 10 years in prison in New York for helping loot billions of dollars from 1MDB, would be handed over to Malaysia to face related charges.

Ng was charged at the Kuala Lumpur Sessions Court on Dec 19, 2018.

He claimed trial to four counts of abetting the international financial institution to omit and make untrue material facts in relation to 1MDB’s guaranteed notes and bonds amounting to US$6.5 billion (RM30 billion) issued between 2012 and 2013.

However, he was granted a discharge not amounting to acquittal in January this year pending sentencing by a US court.

In March, a US district court sentenced Ng to 10 years in jail for his role in the embezzlement of 1MDB funds.

The US district court allowed Ng to postpone the serving of his sentence pending trial by the Malaysian courts.

No electronic monitoring device

Razarudin said the police would not fit Ng with an electronic monitoring device as they would know the whereabouts of the 51-year-old at all times.

“He was wearing an electronic monitoring device in the US while he was being prosecuted there, but we believe it is not necessary in Malaysia,” he added.

For safety reasons, the top cop refused to divulge Ng’s location.

Roger Ng

Razarudin hoped Ng would accord full cooperation to the police, including giving additional information on the whereabouts of fugitive businessperson Low Taek Jho (Jho Low), who’s reportedly the mastermind of the 1MDB scandal.

“We are aware that there are many more assets to recover, including properties or vehicles.

“We also need to investigate the pattern of the crime, how he (Ng) sold security notes and bonds, and how much commission he received. This is what we need to know,” the IGP said.

Asked about the progress of the investigation into former 1MDB lawyer Jasmine Loo, Razarudin said he does not have the latest information.

However, the authorities are working on recovering assets identified by Loo, he stressed.

Last month, Deputy Inspector-General of Police Ayob Khan Mydin Pitchay revealed that Loo had led police to identify assets worth over RM93.2 million that were purchased using 1MDB funds.

These include several properties in the US, London, and Singapore, as well as nine paintings including two by the renowned painter Pablo Picasso. - Mkini