Malaysia has extradited a former Goldman Sachs banker to the United States for 1...
KUALA LUMPUR - Malaysia has extradited a former Goldman Sachs banker to the United States for 10 months to face criminal charges linked to a multibillion-dollar scandal at state fund 1MDB, its attorney general said on Monday.
Following negotiations, the two countries have now agreed for Ng to be temporarily surrendered to the United States for ten months and for the U.S. case against him to proceed first,Ng was sent to the United States on May 3 and will be returned to Malaysia to face charges as soon as the U.S. proceedings are concluded.
The DoJ has estimated that $4.5 billion was misappropriated by high-level 1MDB fund officials and their associates between 2009 and 2014, including some of the funds that Goldman Sachs helped to raise. He was also charged in the United States for conspiring to launder 1MDB money and violating the Foreign Corrupt Practices Act, a U.S. law targeting official bribery abroad.
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