Ex-Goldman banker to face 1MDB charges in US court

A former Goldman Sachs banker is expected to enter a plea later Monday in New York after being extradited from Malaysia to face bribery charges in the multi-billion-dollar 1MDB scandal.

Malaysian Ng Chong Hwa, 51, a former managing director at the bank charged in both Malaysia and America over 1MDB, was extradited to the US on Friday, Malaysian attorney-general Tommy Thomas said.

Also known as Roger Ng, the defendant is scheduled to be arraigned Monday afternoon after 1815 GMT at a federal court in Brooklyn, a spokesman for US Attorney's office said.

An attorney for Ng told Bloomberg he would contest the US criminal charges, which include conspiracy to commit bribery and conspiracy to commit money laundering.

Huge sums of public money were stolen from Malaysian state fund 1MDB and used to mass a trove of personal riches, including yachts and artwork, in a scheme allegedly overseen by former Premier Najib Razak and his cronies.

Goldman's role is under scrutiny as the Wall Street bank helped arrange $6.5 billion in bonds for 1MDB.

Authorities in Malaysia accuse former employees and some of the bank's subsidiaries of stealing USD 2.7 billion in the process and investigators believe cash was laundered through the US financial system.

Thomas said in a statement that an agreement had been reached for "a temporary surrender by Malaysia of Roger Ng for a period of 10 months to enable him to be extradited to the US and for the US prosecution to proceed first."