KUALA LUMPUR – The police investigation into former Goldman Sachs banker Roger Ng will be on the modus operandi of the sale of securities notes and bonds belonging to a 1 Malaysia Development Bhd (1MDB) subsidiary, said top cop Tan Sri Razarudin Husain.
During a press conference at the Bukit Aman police headquarters, Razarudin said information on the modus operandi is critical, including determining whether other suspects are involved as well as recovering more 1MDB assets from overseas.
“We also want to know how these bonds are sold and how much commission is earned; that is what we need to know from Ng.
“The investigation will be conducted in accordance with Section 409 of the Penal Code (criminal breach of trust) and Section 4(1) of the Anti-Money Laundering Act (AMLA) 2001.”
Arriving here last Sunday, Ng is being investigated by the police before he is handed over to the Malaysian Anti-Corruption Commission (MACC).
While there is no time limit set to investigate Ng, Razarudin said the team took note of Ng’s testimony in New York, which will prove useful to the probe.
He added that authorities will not disclose where Ng is currently being held due to security reasons.
The authorities will also attempt to get information on the whereabouts of fugitive Low Taek Jho, who is wanted in several countries for his alleged role in the 1MDB financial scandal.
On April 8 last year, Ng was found guilty in the US for his role in looting the funds, including conspiring to violate US anti-bribery laws and launder money.
Ng had then acquired a three-month postponement for his 10-year jail sentence initially slated to begin on May 4 this year. He also said he had suffered enough during the six months he had spent in a Malaysian prison before being sent to New York.
Meanwhile, the investigation paper on former 1MDB lawyer Jasmine Loo has been submitted to the Attorney-General’s Chambers.
“We are still trying to recover 1MDB assets amounting to RM93.2 million, of which two buildings in Singapore, and nine paintings in the US, by working with the US Department of Justice (DoJ), in cooperation with the Federal Bureau of Investigation (FBI).
“The police will continue this investigation to recover assets belonging to the people and the Malaysian government.”
Previously, the police seized RM93.2 million worth of Loo’s assets and funds said to be linked with 1MDB.
Among the assets seized from Loo were nine art pieces worth RM8.5 million, including two paintings by renowned artist Pablo Picasso with a price tag of RM6 million.
Investigations against her under the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act (Amla) 2001 are ongoing. – October 10, 2023