Goldman has been under scrutiny for years over its role in raising US$6.5 billion for 1Malaysia Development Bhd – and for the massive fees it earned from three bond deals. 1MDB is at the center of a global scandal involving claims of embezzlement and money laundering, which have triggered investigations in the US, Singapore, Switzerland and beyond and helped drive Malaysia’s former leader from power.
SINGAPORE/KUALA LUMPUR (Nov 8): A former Goldman Sachs Group Inc banker is fighting extradition to the US, where he would face charges of money laundering and bribery related to scandal-plagued Malaysian state investment company 1MDB, according to people with knowledge of the matter.
Roger Ng was arrested last week in Malaysia at the request of American authorities. He’s filing an application to review the US detention and extradition order, said the people, who asked not to be identified as the deliberations are private. Separately, Ng and his family have agreed to surrender about $40 million to authorities in neighboring Singapore, which would then repatriate the funds to Malaysia, the people said.
