A former executive of Goldman Sachs, who was convicted for his involvement in the multibillion-dollar theft of a Malaysian sovereign wealth fund, has returned to Malaysia to aid in the recovery of assets, according to Home Minister Saifuddin Nasution. Roger Ng Chong Hwa, a Malaysian national, was convicted by a U.S. District Court jury last year and sentenced to 10 years in prison. Ng and his co-conspirators helped the Malaysian fund, known as 1MDB, raise $6.5 billion through bond sales but diverted more than two-thirds of the money for personal gain. Ng denies the charges against him. The main objective of bringing Ng back to Malaysia is to recover assets owned by the people, said Saifuddin. Prime Minister Anwar Ibrahim’s government is reviewing a settlement package made with Goldman Sachs that it deems too lenient. Goldman Sachs agreed to pay $2.5 billion and guarantee the return of $1.4 billion of seized 1MDB assets in exchange for Malaysia dropping charges against the bank. Ng faces graft charges in Malaysia and investigations will continue.
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