The Bobster
Senior News Editor since 2004
https://nypost.com/2019/05/06/ex-goldman-banker-charged-in-1mdb-scandal-released-on-20m-bond/
Ex-Goldman banker charged in 1MDB scandal released on $20M bond
By Emily Saul and Bruce Golding
May 6, 2019 | 7:59pm | Updated May 6, 2019 | 8:29pm
Former Goldman Sachs executive Roger Ng (center) leaves Brooklyn federal court with attorney Marc Agnifilo (right). AP
A former Goldman Sachs banker was released on a $20 million bond Monday following his extradition from Malaysia to face charges in a massive money-laundering scandal that helped bankroll the Leo DiCaprio movie “The Wolf of Wall Street.”
Roger Ng, 51, appeared gaunt and disoriented during his brief appearance in Brooklyn federal court, where he pleaded not guilty to conspiracy to commit money laundering and two counts of conspiracy to violate the Foreign Corrupt Practices Act.
The Philippines citizen was arrested in Kuala Lumpur in November after the feds accused him of participating in a scheme that used more than $2.7 billion embezzled from a Malaysian sovereign wealth fund known as “1MDB” to buy luxury New York City apartments and valuable artwork, and finance major Hollywood movies.
Last year, Red Granite Pictures agreed to pay the feds $60 million to settle claims it used stolen 1MDB money to produce “The Wolf of Wall Street,” as well as “Dumb and Dumber To” and “Daddy’s Home.”
Red Granite was co-founded by the stepson of former Malaysian Prime Minister Najib Razak, who oversaw 1MDB and was charged with corruption offenses in Malaysia last year.
Ng’s defense lawyer, Marc Agnifilio, said that Ng caught dengue fever while he was locked up in Malaysia and was convinced by Agnifilo to “come to New York, don’t fight the extradition,” because it was “better than him being in a Malaysian jail.”
Ng’s bond was secured by $1 million in cash and co-signed by an unidentified relative, Agnifilo said.
He will be staying somewhere in the New York City area under electronically monitored house arrest.
Ng was extradited on the condition that he return to Malaysia in 10 months to face additional charges there.
During his court appearance, Magistrate Judge Peggy Kuo noted that Ng was “engaged in plea negotiations” with prosecutors “and might be able to resolve this case without trial.”
Ng was indicted along with flamboyant financier and former DiCaprio pal Jho Low, 36, who remains a fugitive wanted by both American and Malaysian authorities.
Another ex-Goldman banker, Tim Leissner — who’s married to fashion designer Kimora Lee Simmons and was Ng’s boss — secretly pleaded guilty last year to conspiring to launder stolen 1MBD cash and to pay bribes and kickbacks so Goldman could market more than $6 billion worth of bonds for the fund.
Leissner, who scored large bonuses for helping Goldman rake in about $600 million through the bond sales, agreed to forfeit $43.7 million as part of his plea deal.
Goldman has denied any wrongdoing and said it’s cooperating with the feds.
Ex-Goldman banker charged in 1MDB scandal released on $20M bond
By Emily Saul and Bruce Golding
May 6, 2019 | 7:59pm | Updated May 6, 2019 | 8:29pm
Former Goldman Sachs executive Roger Ng (center) leaves Brooklyn federal court with attorney Marc Agnifilo (right). AP
A former Goldman Sachs banker was released on a $20 million bond Monday following his extradition from Malaysia to face charges in a massive money-laundering scandal that helped bankroll the Leo DiCaprio movie “The Wolf of Wall Street.”
Roger Ng, 51, appeared gaunt and disoriented during his brief appearance in Brooklyn federal court, where he pleaded not guilty to conspiracy to commit money laundering and two counts of conspiracy to violate the Foreign Corrupt Practices Act.
The Philippines citizen was arrested in Kuala Lumpur in November after the feds accused him of participating in a scheme that used more than $2.7 billion embezzled from a Malaysian sovereign wealth fund known as “1MDB” to buy luxury New York City apartments and valuable artwork, and finance major Hollywood movies.
Last year, Red Granite Pictures agreed to pay the feds $60 million to settle claims it used stolen 1MDB money to produce “The Wolf of Wall Street,” as well as “Dumb and Dumber To” and “Daddy’s Home.”
Red Granite was co-founded by the stepson of former Malaysian Prime Minister Najib Razak, who oversaw 1MDB and was charged with corruption offenses in Malaysia last year.
Ng’s defense lawyer, Marc Agnifilio, said that Ng caught dengue fever while he was locked up in Malaysia and was convinced by Agnifilo to “come to New York, don’t fight the extradition,” because it was “better than him being in a Malaysian jail.”
Ng’s bond was secured by $1 million in cash and co-signed by an unidentified relative, Agnifilo said.
He will be staying somewhere in the New York City area under electronically monitored house arrest.
Ng was extradited on the condition that he return to Malaysia in 10 months to face additional charges there.
During his court appearance, Magistrate Judge Peggy Kuo noted that Ng was “engaged in plea negotiations” with prosecutors “and might be able to resolve this case without trial.”
Ng was indicted along with flamboyant financier and former DiCaprio pal Jho Low, 36, who remains a fugitive wanted by both American and Malaysian authorities.
Another ex-Goldman banker, Tim Leissner — who’s married to fashion designer Kimora Lee Simmons and was Ng’s boss — secretly pleaded guilty last year to conspiring to launder stolen 1MBD cash and to pay bribes and kickbacks so Goldman could market more than $6 billion worth of bonds for the fund.
Leissner, who scored large bonuses for helping Goldman rake in about $600 million through the bond sales, agreed to forfeit $43.7 million as part of his plea deal.
Goldman has denied any wrongdoing and said it’s cooperating with the feds.
