Ex-Goldman banker Roger Ng expected back in Malaysia in June

The prosecution may make amendments to charges levelled against Ng and has asked for a new date for re-mention

by RAHIMI YUNUS / pic by BLOOMBERG

FORMER Goldman Sachs Group Inc executive Roger Ng (picture) is expected to be back in Malaysia in June to face criminal charges relating to 1Malaysia Development Bhd (1MDB).

Deputy public prosecutor Norinna Bahadun told the Kuala Lumpur High Court yesterday that Ng, 48, or his birth name Ng Chong Hwa, is still in New York and will return after June 1, according to an application by the US Department of Justice (DoJ).

She added that the prosecution is considering making an amendment to charges levelled against Ng and asked for a new date for the re-mention of the case.

Meanwhile, Ng’s counsel Datuk Tan Hock Chuan said his client’s trial at a Federal Court in the Eastern District of New York has yet to begin.

“I was informed that the hearing will start at earliest the end of June or July. This is because courts in the US were closed since Oct 1 last year, and have only resumed recently. I believe old cases will be coming up first,” he said.

Judge Datuk Muhammad Jamil Hussin fixed June 15 for the next case management. On Dec 19, 2018, Ng was charged with four counts of abetting Goldman Sachs pertaining to the sale of guaranteed notes and bonds belonging to a subsidiary of 1MDB totalling US$6.5 billion (RM26.7 billion) by dropping material facts and making false statements.

He was charged with committing the offences at the 1MDB office between March 19, 2012 and Nov 11, 2013.

The former head of investment banking for Goldman Sachs Malaysia pleaded not guilty to the four charges.

He was extradited to the US in May 2019 to face criminal charges by the DoJ over the 1MDB scandal.

Last year, Goldman Sachs agreed to pay over US$2.9 billion in criminal penalty after admitting wrongdoings for its role in the 1MDB bribe scheme.

The DoJ said Goldman Sachs will pay more than US$2.9 billion as part of a coordinated resolution with criminal and civil authorities in the US, UK, Singapore and elsewhere.

Goldman Sachs also reached separate parallel resolutions with foreign authorities in the UK, Singapore, Malaysia and elsewhere, along with domestic authorities in the US.

The DoJ said Goldman Sachs, a global financial institution headquartered in New York, and Goldman Sachs (M) Sdn Bhd, its Malaysian subsidiary, have admitted to conspiring to violate the Foreign Corrupt Practices Act in connection with a scheme to pay over US$1 billion in bribes to Malaysian and Abu Dhabi officials to obtain lucrative business for the company, including its role in underwriting approximately US$6.5 billion in three bond deals for 1MDB between 2012 and 2013, known internally at Goldman Sachs as “Project Magnolia”, “Project Maximus” and “Project Catalyze”.