Ex-Goldman banker to finish Malaysia legal process before US extradition

Former Malaysian Prime Minister Najib Razak is hardly lying low ahead of his corruption trial on charges related to the multibillion-dollar looting of the 1MDB state investment fund. (File/AP)
Updated 20 February 2019
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Ex-Goldman banker to finish Malaysia legal process before US extradition

  • Goldman’s role is under scrutiny as the Wall Street titan helped arrange $6.5 billion in bonds for 1MDB
  • Authorities in Malaysia and the US accuse former employees of bribery and stealing billions of dollars

KUALA LUMPUR, Malaysia: A former Goldman Sachs banker accused of involvement in the multi-billion-dollar 1MDB scandal will only be extradited to the United States after legal proceedings against him in Malaysia are completed, a minister said.
Huge sums of public money were purportedly stolen from Malaysian state fund 1MDB and used to buy everything from yachts to art in a scheme that allegedly involved former premier Najib Razak and contributed to his government’s election defeat.
Goldman’s role is under scrutiny as the Wall Street titan helped arrange $6.5 billion in bonds for 1MDB. Authorities in Malaysia and the US accuse former employees of bribery and stealing billions of dollars, and investigators believe cash was laundered through the US financial system.
Malaysian Ng Chong Hwa, a former managing director at the bank, was indicted in November when US authorities also lodged an extradition request. He has been in custody in Malaysia since the US indictment.
Malaysia also filed charges against Ng, more commonly known as Roger Ng, as well as Goldman.
At a court hearing last week, Ng agreed to stop fighting the extradition request and said he wanted to be sent to the US within 30 days.
But Malaysia’s government must approve his extradition, and Interior Minister Muhyiddin Yassin said Ng’s case in Malaysia must go ahead first.
“We will honor the extradition but we will prioritize the case in Malaysia until it is completed. This is the advice of the attorney-general, and we will abide by it,” Yassin said.
Ng’s case will likely come before the Malaysian courts again next month, he said.
Ng was charged in Malaysia in December with four counts related to 1MDB, and has pleaded not guilty. He faces up to 40 years in jail if convicted.
As well as Ng, former Goldman partner Tim Leissner and the bank’s subsidiaries are also accused of making false statements in order to steal billions of dollars, and of bribing officials.
Leissner has already pleaded guilty in the US to 1MDB-linked charges.


11 people reported killed in gun attack at bar in Brazil

Policemen are seen at a site where, according to local media, an armed group entered and opened fire at a bar, killing and wounding its patrons, in Belem, Para state, Brazil May 19, 2019. (REUTERS)
Updated 20 May 2019
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11 people reported killed in gun attack at bar in Brazil

  • Brazil hit a record high of 64,000 homicides in 2017, 70% of which were due to firearms, according to official statistics

RIO DE JANEIRO: A gang of gunmen roared up to a bar in Belem city in Brazil’s northern Pará state and opened fire, killing six women and five men Sunday afternoon, media reports said. State officials would confirm only that “a massacre” occurred but gave no details.
The G1 news website said police reported that seven gunmen were involved in the attack, which also wounded one person. The news outlet said the attackers arrived at the bar on one motorcycle and in three cars.
A Pará state spokeswoman, Natalia Mello, said only: “A massacre is confirmed.” State communications officials stopped answering phone calls. Military and civil police in Pará state also did not answer phone calls or respond to emails.
In late March, the federal government sent National Guard troops to Belém to reinforce security in the city for 90 days.
Brazil hit a record high of 64,000 homicides in 2017, 70% of which were due to firearms, according to official statistics.
Much of Brazil’s violence is gang related. In January, gangs attacked across Fortaleza, bringing that city to a standstill with as commerce, buses and taxis shut down.
Rio de Janeiro, the country’s second biggest city, experiences daily shootouts between rival gangs and also between police and criminals, battles that often result in the deaths of innocent bystanders. Fogo Cruzado, a group that monitors shootings in the Rio metropolitan area, says there were 2,300 shootings in Rio and its suburbs during the first 100 days of this year.
Killings attributed to police gunfire in Rio de Janeiro state have reached a record high, rising 18% in the first three months, in a spike partly attributed to a campaign of a zero tolerance for criminals being pushed by state leaders.
One of new President Jair Bolsonaro’s main campaign promises was that he would loosen Brazil’s strict gun laws, arguing that because criminals are well-armed with illegally obtained guns, “upstanding citizens” should have the right to defend themselves with legally bought guns. Bolsonaro has made good on that campaign promise with two presidential decrees that make buying guns easier, though federal prosecutors are seeking to get the courts to block that move.