KUALA LUMPUR, Nov 20 — The police are reportedly tracking down assets belonging to former Goldman Sachs banker Roger Ng Chong Hwa that are believed to be misappropriated from the 1Malaysia Development Berhad (1MDB) funds and possibly held by his associates.
Utusan Malaysia reported today quoting federal police Commercial Crime Investigation Department (CCID) that the police identified the assets owned by Ng which were earlier seized by the United States (US) authorities.
Bukit Aman CCID director Datuk Seri Ramli Mohamad Yoosuf told the Malay-language daily that investigators are now in the process of identifying the possibility that Ng’s assets misappropriated from 1MDB funds are placed under the ownership of other individuals.
“Police are investigating this possibility. We expect the process to take time as it involves identifying and tracking down the assets.
“Currently, we are taking Ng’s statement and he has so far cooperated well with the police,” he was quoted as saying in the report.
Ramli was commenting on police investigations on tracking down assets that are believed to have been misappropriated by Ng and possibly held by his associates.
On November 8, the Inspector-General of Police Tan Sri Razarudin Husain was reported to have said that investigators were examining related documents obtained to trace the assets believed to have been misappropriated by Ng.
Police investigation against Ng in Malaysia started on October 10 after the 51-year-old convicted banker was arrested at the Kuala Lumpur International Airport (KLIA) shortly after arriving from the United States.
The probe against Ng focused on the sale of bonds. believed to be 1MDB funds, under Section 409 of the Penal Code for criminal breach of trust and Section 4(1) of the Anti-Money Laundering and Anti-Terrorism Financing Act (AMLA).
On October 7, the media reported that Ng, who was sentenced to 10 years in prison in New York, in the United States, for helping loot billions of dollars from 1MDB, would be handed over to Malaysian authorities to face related charges.
It is learnt that Ng will also be investigated, including by the Malaysian Anti-Corruption Commission (MACC) and the Securities Commission (SC).
Ng was sentenced in March 2022 after a jury found him guilty of conspiring with former Goldman Sachs executive Tim Leissner to misappropriate 1MDB funds, as well as money laundering.