Ng faces charges in Malaysia and the US for his involvement in US$6.5 billion of bond sales that Goldman arranged for the troubled state fund, called 1Malaysia Development Bhd.
Authorities in several countries including the US have alleged that much of the money raised was siphoned off to enrich politicians. Former Malaysian Prime Minister Najib Razak is currently standing trial on 1MDB-related charges in Kuala Lumpur.
Ng has denied wrongdoing. He was deputy to Goldman’s former Southeast Asia Chairman Tim Leissner, who has pleaded guilty to US charges including conspiring to launder money. Both men
have been banned from the US financial industry by the Federal Reserve.
Singapore in September ordered the first batch of misappropriated 1MDB money – $15.3 million which were recovered in various currencies – to be returned to Malaysia.
