KUALA LUMPUR: An ex-Goldman Sachs banker will stand trial in Malaysia in April over the 1MDB scandal after he returns from the US where he has also been charged, an official said on Wednesday .
Billions of dollars were stolen from Malaysian state fund 1MDB in a fraud allegedly involving former prime minister Najib Razak and his cronies, and spent on everything from high-end real estate to a luxury super-yacht.Goldman's role is under scrutiny as the Wall Street bank helped arrange US$6.5 billion in bonds for 1MDB, and Malaysian authorities say huge sums were stolen in the process.
Ng Chong Hwa, a Malaysian former managing director at the bank, has been charged in the US and Malaysia over the scandal. He was extradited in May from Malaysia to the US - which is investigating the controversy as money was laundered through the American financial system - and pleaded not guilty to bribery and other charges.
Malaysia had agreed to a"temporary surrender" of the ex-banker, also known as Roger Ng, for 10 months to allow the US case to proceed and he will return to his home country in March, prosecutor Zaki Asyraf Zubir told AFP.Ng has also pleaded not guilty to 1MDB-linked charges in Malaysia.Malaysia is seeking US$7.5 billion in damages from the Wall Street titan over its role in the scandal.
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