Ng claims trial to four charges

Ex-Goldman Sachs banker denies omitting facts on 1MDB RM6.5bil sale of bonds

KUALA LUMPUR: Former Goldman Sachs banker Roger Ng has claimed trial at a Sessions Court here to four counts of abetting the US-based investment bank by omitting facts and making untrue statements over the 1MDB sale of notes worth RM6.5bil in bonds.

Ng, 46, pleaded not guilty as he stood in the accused dock after the charges were read out before judge Ahmad Kamal Arifin Ismail.

According to three of the charges, Ng, or his birth name Ng Chong Hwa, allegedly abetted Goldman Sachs in omitting several material facts in two offering circulars and one private placement memorandum.

One of the material facts is that Low Taek Jho, also known as Jho Low, was the operator and key intermediary for 1Malaysia Development Bhd.

Another charge stated that Ng made an untrue statement in an offering circular dated March 16, 2013.

The offences were allegedly committed at the 1MDB office in Jalan Sultan Ismail between March 19, 2012, and Nov 11, 2013.

The offences under Section 370(c), read together with Section 179(c) of the Capital Markets and Services Act, carry a jail term of up to 10 years and a fine of not less than RM1mil, if convicted.

DPP Manoj Kurup offered bail at RM1mil in two sureties. He also asked for the court to seize the accused’s passport.

Lawyer Datuk Tan Hock Chuan, who represented Ng, asked for a lower bail – in the range of RM600,000.

Ahmad Kamal fixed bail at RM1mil in two sureties. He also ordered for Ng’s passport to be surrendered to the court.

The case is fixed for mention on March 18 next year.

In a separate proceeding, a Sessions Court has postponed Ng’s extradition proceeding to next Jan 4.

The court also extended Ng’s remand until then.

DPP Shukor Abu Bakar prosecuted. On Dec 12, the prosecution filed the papers for the application of the extradition proceedings against Ng upon the request of the United State’s government.

On Dec 13, the High Court dismissed Ng’s application to free him on bail following his remand under the Extradition Act in connection with the 1MDB investigation.

Ng made the application to set aside the Magistrate court’s 60-day remand order pending the extradition proceedings following the charges filed against him by the United States’ Department of Justice.

Ng was arrested here on Nov 1.