WASHINGTON (Pakistan Point News / Sputnik - 07th May, 2019) A Malaysian national has been extradited from Malaysia to the United States to face charges in a multi-billion money laundering and bribery scheme related to the 1Malaysia Development Barhad's (1MDB) investment development fund, the US Department of Justice said in a press release on Monday.
"A Malaysian national, Ng Chong Hwa, 46, also known as 'Roger Ng,' has been extradited from Malaysia to the United States to face charges of conspiring to launder billions of Dollars embezzled from 1Malaysia Development Berhad (1MDB)," the release said.
The Justice Department explained that Ng was charged with three counts for crimes he committed while serving as a managing director of the Financial Institution that underwrote more than $6 billion in bonds issued by 1MDB.
Between 2009 and 2014, Ng allegedly conspired to launder billions of dollars fraudulently diverted from 1MDB, including the money the investment fund raised through bond transactions with the Financial Institution in 2012 and 2013, the Justice Department said.
Ng was also charged with paying bribes to multiple government officials in Malaysia and Abu Dhabi, and with conspiring to violate the Foreign Corrupt Practices Act, the Justice Department added.
Ng was arrested in Malaysia in November of 2018, waived extradition to the United States and is scheduled to make his first appearance on Monday in Federal court in Brooklyn, New York.
