Roger Ng to surrender RM120m
PETALING JAYA: Former Goldman Sachs executive Roger Ng and his family have agreed to surrender about S$40 million (RM120 million) linked to 1Malaysia Development Berhad ( 1 MDB) t o Singapore authorities, news agency Bloomberg reported yesterday.
Citing sources, Bloomberg said Singapore would then repatriate the funds, currently frozen in the island republic, to Malaysia.
Singapore had repatriated S$15.3 million (RM46.075 million) in funds linked t o 1 MDB a n d S R C I nternational t o Malaysia i n September.
Ng was arrested by Malaysian police last week. Bloomberg reported that Ng is challenging the move to extradite him to the US to face criminal charges over the 1MDB scandal.
He had worked for Goldman Sachs in Southeast Asia.
According to the report, the three-count criminal indictment at a federal court in New York pertains to fugitive financier Low Taek Jho and Ng conspiring to l aunder billions of dollars embezzled from 1MDB.
They were also indicted for conspiring to violate the Foreign Corrupt Practices Act of the US by paying bribes to various Malaysian and Abu Dhabi officials.