Former Goldman Sachs banker and to face trial in Malaysia

roger ng

(image courtesy of reuters.com)

Roger Ng is a former Goldman Sachs banker and will face trial in Malaysia in April for allegedly abetting the sale of $6.5 billion in bonds tied to troubled state fund called 1Malaysia Development Berhad (1MDB), a judicial official said on Wednesday.

It’s reported that Malaysia had briefly surrendered Ng for ten weeks to the United States, where he’s been charged for conspiring to launder money and bribe government officials in Malaysia and Abu Dhabi. It is alleged he did this through bond offerings which Goldman Sachs Group Inc (GS.N) had handled.

Ng has pleaded not guilty to the charges in Malaysia and the USA.

Malaysia had requested a trial to start in April since the ten months of U.S. custody agreed to by the states would lapse in March, Deputy Public Prosecutor Zaki Asyraf Zubir told Reuters.

Goldman said last month it had been in talks with authorities on the possibility of a resolution of investigations regarding 1MDB.

It has been reported that Malaysia refused an offer from Goldman of less than $2 billion in compensation over the scandal.

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