Bangkok, May 6 (IANS) Malaysia has handed over a former executive of Goldman Sachs to the United States after he was allegedly linked to the multi-billion dollar corruption scandal related to state investment fund 1Malaysia Development Berhad (IMDB), the Malaysian Attorney General's office said on Monday.
Roger Ng, a Malaysian citizen, was arrested in Kuala Lumpur on November 1 at the request of the US Department of Justice that charged him with three counts of laundering money diverted from 1MDB.
Ng was handed over to the US Department of Justice on Friday, Attorney General Tommy Thomas said in a statement cited by Efe news.
The 47-year-old banker, who quit Goldman Sachs in 2014, agreed to be extradited to the US in February. But the process was delayed due to disagreements between the Malaysian Interior Ministry and the Justice Department.
Ng would have to return to Malaysia to face four charges once the judicial process in the US concluded, Thomas added.
The banker has been charged by Malaysian prosecutors with four counts related to three series of bonds with a total value of $6.5 billion, which 1MDB had used Goldman's investment banking services to issue between 2012 and 2013.
Apart from Ng, the Malaysian authorities are also investigating the bank and one of its former directors in Asia, Tim Leissner, for allegedly bribing officials.
The 1MDB corruption scandal came to light in 2015 when a media investigation uncovered the diversion of nearly $681 million funds from the investment fund to the private accounts of then Prime Minister Najib Razak.
The scandal was a major reason behind Najib's defeat in the 2018 elections after which he was charged with 42 crimes, including money laundering and abuse of power.
According to the US Justice Department estimates, around $4.5 billion were diverted from 1MDB. Of this, about $1 billion could have been laundered in the US through the purchase of real estate, yachts, jewellery and works of art.
(This story has not been edited by Social News XYZ staff and is auto-generated from a syndicated feed.)
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