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Malaysia to Prosecute Goldman Sachs Trader Before US Extradition

by David Kimberley
  • Roger Ng will remain in the country until court proceedings related to the 1MDB scandal have been completed
Malaysia to Prosecute Goldman Sachs Trader Before US Extradition
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A former Goldman Sachs banker, who is accused of playing a large role in a Money Laundering scandal, will not be extradited to the US from his native Malaysia until local courts have completed proceedings against him.

Roger Ng is accused of helping 1Malaysia Development Berhad (1MDB) raise $6.5 billion over the course of three bond sales.

Ng's former manager at Goldman Sachs, Tim Leissner, has already pleaded guilty to a number of charges in a US court, including conspiring to launder money.

Goldman Sachs played a role in the scandal by helping 1MDB's bonds on the market and attracting investors. Courts in both the US and Malaysia allege that company employees knew the funds were going to be misappropriated. Goldman Sachs denies those allegations and has said it is going to defend itself in court.

Saved by the Attorney General

Last week, Ng looked all set to be heading to the US after a Malaysian court said he would be extradited to face charges related to the 1MDB case.

But that ruling was subject to an order from the interior ministry which did not arrive. Speaking to Bloomberg on Tuesday, the Minister of Home Affairs, Muhyiddin Yassin, said that Ng's extradition would have to wait until all Malaysian court proceedings have been completed.

“This is a case that not only Malaysians but everyone around the world wants to see closure, and not only closure, but the people who are responsible have to be punished,” said Yassin. “I can only say that all of the countries that are known or said to be involved have been very cooperative.”

Yassin was apparently following the orders of Malaysian Attorney General Tommy Thomas, who said that Ng must remain in Malaysia until the case against him has reached its conclusion.

Depending on how long the court proceedings drag on for, that may be soon. Ng's court date has been set for the 18th of March of this year.

A former Goldman Sachs banker, who is accused of playing a large role in a Money Laundering scandal, will not be extradited to the US from his native Malaysia until local courts have completed proceedings against him.

Roger Ng is accused of helping 1Malaysia Development Berhad (1MDB) raise $6.5 billion over the course of three bond sales.

Ng's former manager at Goldman Sachs, Tim Leissner, has already pleaded guilty to a number of charges in a US court, including conspiring to launder money.

Goldman Sachs played a role in the scandal by helping 1MDB's bonds on the market and attracting investors. Courts in both the US and Malaysia allege that company employees knew the funds were going to be misappropriated. Goldman Sachs denies those allegations and has said it is going to defend itself in court.

Saved by the Attorney General

Last week, Ng looked all set to be heading to the US after a Malaysian court said he would be extradited to face charges related to the 1MDB case.

But that ruling was subject to an order from the interior ministry which did not arrive. Speaking to Bloomberg on Tuesday, the Minister of Home Affairs, Muhyiddin Yassin, said that Ng's extradition would have to wait until all Malaysian court proceedings have been completed.

“This is a case that not only Malaysians but everyone around the world wants to see closure, and not only closure, but the people who are responsible have to be punished,” said Yassin. “I can only say that all of the countries that are known or said to be involved have been very cooperative.”

Yassin was apparently following the orders of Malaysian Attorney General Tommy Thomas, who said that Ng must remain in Malaysia until the case against him has reached its conclusion.

Depending on how long the court proceedings drag on for, that may be soon. Ng's court date has been set for the 18th of March of this year.

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