A former Goldman Sachs executive convicted in the United States in the multibillion-dollar ransacking of a Malaysian sovereign wealth fund has been brought back to the country to assist in asset recovery efforts. Roger Ng Chong Hwa is under police custody after arriving in Kuala Lumpur over the weekend. Home Minister Saifuddin Nasution says Malaysia still has “unfinished business” with Ng, who was convicted by a U.S. District Court jury in Brooklyn last year and sentenced in March to 10 years in
KUALA LUMPUR, Malaysia — A former Goldman Sachs executive convicted in the United States in the multibillion-dollar ransacking of a Malaysian sovereign wealth fund has been brought back to the country to assist in asset recovery efforts, an official said Monday.
Prosecutors said Ng and his co-conspirators helped the Malaysian fund, known as 1MDB, to raise $6.5 billion through bond sales — only to participate in a scheme that siphoned off more than two-thirds of the money, some of which went to pay bribes and kickbacks.New York City area gets one of its wettest days in decades, as rain swamps subways and streets“We still have unfinished business,” Saifuddin told reporters.
Saifuddin said police will continue their probe on Ng, who also faces graft charges in Malaysia. There is no deadline, he said, to return Ng to the United States, where his prison term has been put on hold to accommodate Malaysia.The 1MDB theft and cover-up attempts upended the country’s government at the time.
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