The repatriation of former Goldman Sachs banker Roger Ng, who faces criminal charges in Malaysia for his involvement in the 1Malaysia Development Bhd (1MDB) scandal, will provide clarity on the messy mega scandal, says Transparency International Malaysia (TI-Malaysia).

Its president Dr Muhammad Mohan said Ng’s return to the country would allow Malaysian authorities to proceed with the next course of action, which was most likely to be charging him in court.

“The fact that they are bringing him back here means that there could be a possibility that he could be tried here.

“In the event he stands trial here, he will be able to shed more information – especially on things related to 1MDB and the involvement of Goldman Sachs, since he was the bank’s officer here (in Malaysia).

“He probably has a lot more information than what we know at the moment, so this is something we will be looking forward to,” said Muhammad when contacted yesterday.

He added that the authorities must ensure tight security for Ng’s return.

Centre to Combat Corruption and Cronyism (C4 Centre) chief executive officer Pushpan Murugiah said the repatriation indicated that the Malaysian government had a vested interest in having Ng back.

However, he said it remained to be seen whether the government’s intention in doing so was to prosecute Ng under domestic laws, or to assist the government in prosecuting other figures related to the 1MDB case.

“It must be noted that American prosecutors reportedly opposed the repatriation of Ng as it would delay him from serving his 10-year prison sentence in the United States.

“Therefore, it is imperative that the Malaysian public be informed of the government’s plans once he returns to Malaysia.

“Will he be allowed to walk free for an indefinite period of time while a pending prison sentence awaits him in the United States, or will he also be charged in domestic courts in a bid to create a symbolic sense of justice for a nation wronged by his actions?” asked Pushpan.

International Islamic University Malaysia legal adviser Prof Dr Nik Ahmad Kamal Nik Mahmod said the authorities here would need to determine the type of charges they would want to file against Ng to prevent “double jeopardy”.

Prof Nik Ahmad said should Ng be charged for the same offences, he could argue that he had already been sentenced for the same crime in a foreign court.

“This question needs to be resolved first. But, if the charges are different, then there will be no issue of double jeopardy.

“Regarding which sentencing he needs to serve first, Malaysian and US authorities will need to negotiate this and see what would be the best decision in this case.

“He could either be transferred to the United States first and then come back to Malaysia to finish all his sentences, or the other is he may complete all his sentences in one country, either in Malaysia or the United States.

“But if Ng decides to contest the court’s decision, the entire process will take a long time as he can apply for bail and such,” said Prof Nik Ahmad.

Ng is a Malaysian national and Goldman’s former head of investment banking in Malaysia.

It was reported yesterday that Ng, who is facing 10 years in prison after being convicted in New York of helping loot billions of dollars from 1MDB, will be returned to Malaysia.

Chief US district judge Margo Brodie on Thursday ordered Ng’s surrender to the US Marshals Service by yesterday so he could be turned over to Malaysian law enforcement.

According to the prosecutors, Ng would be required upon returning to the United States to begin his prison term there.

On Sept 5, the Monetary Authority of Singapore issued a lifetime prohibition order (PO) against Ng following his conviction in the United States for conspiracy to launder monies embezzled from 1MDB, and violation of the US Foreign Corrupt Practices Act (FCPA).

Under the PO, Ng is permanently prohibited from performing any regulated activity under the Securities and Futures Act (SFA) and from providing any financial advisory services under the Financial Advisers Act (FAA).

He is also permanently prohibited from taking part in the management, acting as a director, or becoming a substantial shareholder, of any capital market and financial advisory services firm under the SFA and FAA.

Source:
courtesy of THE STAR

by ARFA YUNUS

If you have any stories or news that you would like to share with the global online community, please feel free to share it with us by contacting us directly at [email protected]