KUALA LUMPUR (Reuters) – A Malaysian court on Monday declined to grant bail to former Goldman Sachs banker Roger Ng, pending his extradition to the United States where he faces charges related to suspected money laundering of funds siphoned off from state fund 1MDB.
Ng has been detained in Kuala Lumpur since Nov. 1 last year, shortly after the U.S. Department of Justice announced charges against him, another Goldman Sachs official Tim Leissner, and Malaysian financier Low Taek Jho over the alleged theft of billions of dollars from 1Malaysia Development Berhad (1MDB).
Leissner - Partner - Goldman - Sachs - Asia
Leissner, a former partner for Goldman Sachs in Asia, pleaded guilty to conspiring to launder money and violate the Foreign Corrupt Practices Act, while Low has denied wrongdoing and remains at large.
Malaysian prosecutors have filed separate criminal charges against the three, as well as an application to extradite Ng to the United States.
Defence - Lawyer - Tan - Hock - Chuan
Defence lawyer Tan Hock Chuan last week had requested for Ng to be released on medical reasons pending the extradition proceedings.
Judge Edwin Paramjothy Michael Muniandy, however, dismissed the request for bail on Monday saying there was insufficient evidence that Ng was too unfit to remain in custody.
Judge - Court - Ng - Flight - Risk
The judge said the court also considered Ng a serious flight risk, given the gravity and high-profile nature of the cases against him in Malaysia and the United States.
“With the likelihood that the respondent will abscond, I’m of the considered view that the respondent’s presence (in court) cannot be secured by the...
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