Ex-Goldman Sachs banker charged with abetting bank

  • Nation
  • Wednesday, 19 Dec 2018

KUALA LUMPUR: Former Goldman Sachs banker Roger Ng has claimed trial at a Sessions Court here to four counts of abetting the US-based investment bank by omitting facts and making untrue statements over the 1Malaysia Development Berhad (1MDB) sale of notes worth RM6.5bil in bonds.

The 46-year-old pleaded not guilty after the charges were read out before Sessions Court judge Ahmad Kamal Arifin Ismail. 

According to three of the charges, Ng, also known as Ng Chong Hwa, allegedly abetted Goldman Sachs in omitting several material facts in two offering circulars and one private placement memorandum. 

One of the material facts is that Low Taek Jho, or known as Jho Low, was the operator and key intermediary for 1MDB. 

Another charge stated that Ng made an untrue statement in an offering circular dated March 16, 2013. 

The offences were allegedly committed at 1MDB's offices at Menara IMC along Jalan Sultan Ismail between March 19, 2012 and Nov 11, 2013.

The offences under Section 370 (c) read together with Section 179 (c) of the Capital Markets and Services Act 2007 carry a jail term up to 10 years and a fine of not less than RM1mil, if convicted. 

DPP Manoj Kurup offered bail at RM1mil in two sureties. 

He also asked for the court to seize the accused’s passport. 

Lawyer Datuk Tan Hock Chuan, who represented Ng, asked for a lower bail in the range of RM600,000.

Ahmad Kamal fixed bail at RM1mil in two sureties. He also ordered for Ng’s passport to be surrendered to the court. 

The case is fixed for mention on March 18 next year.

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