Ng was arrested yesterday in Malaysia by his officers to assist the US Department of Justice (DoJ) in its investigations, Bukit Aman Commercial Crime Investigation Department director Amar Singh Ishar Singh told The Star.
“We served the warrant of arrest that was put out on him.
“The extradition process is still ongoing and he will be extradited once everything is settled.”
News reports yesterday said former senior Goldman Sachs banker in Asia Tim Leissner pleaded guilty to US bribery and money laundering charges.
His deputy, Ng, was arrested in Malaysia as federal prosecutors in the US laid out conspiracy allegations related to Goldman Sachs’s lucrative fundraising for Malaysian wealth fund 1MDB.
Malaysian financier Low Taek Jho, better known as Jho Low, the alleged mastermind behind the scheme to siphon billions of dollars from the fund, was charged in absentia.
He is accused of conspiring with Ng, then a Goldman Sachs banker, to launder billions of dollars embezzled from 1MDB.
Leissner pleaded guilty to conspiring to launder money and violating the Foreign Corrupt Practices Act by paying bribes to Malaysia and Abu Dhabi officials and circumventing Goldman’s internal accounting controls, according to prosecutors. He has been ordered to forfeit US$43.7 million.
Low, Ng and Leissner are the first individuals to be charged in the US in relation to the scandal at the state investment arm.
Goldman Sachs arranged bond offerings that helped the fund raise more than US$6 billion, much of which, according to international authorities, was squirrelled away in private accounts and used to buy yachts, paintings and high-end real estate.