THE Kuala Lumpur High Court today granted former Goldman Sachs banker Roger Ng a discharge not amounting to an acquittal pending the conclusion of his trial in a United States court, The Edge reported.

Judge Muhammad Jamil Hussin gave the order after the prosecution requested it.

Deputy public prosecutor Zaki Asyraf Zubir, in his submissions, reportedly said Ng was awaiting sentencing in Brooklyn, New York. He is expected to be sentenced next month.

After sentencing, Zaki said that Ng would most likely still be in the US until next year for the appeal process.

Ng was convicted of bribery and money-laundering charges in relation to the 1Malaysia Development Bhd (1MDB) scandal in the US last year.

He was found guilty on two counts of conspiring to violate the US Foreign Corrupt Practices Act in relation to 1MDB by bribing government officials in Malaysia and Abu Dhabi through bond offerings that Goldman Sachs handled.

Ng was also found guilty on a charge of conspiracy to launder money.

The trial before Jamil revolves around charges under the Capital Markets and Services Act 2007 (CMSA).

Ng was accused of four counts of violating the CMSA – abetting Goldman Sachs in the sale of notes and bonds belonging to 1MDB subsidiaries by omitting material information and publishing untrue statements.

He was charged under section 370(c) of the CMSA, which carries a punishment of up to 10 years’ jail and a fine of at least RM1 million.

Among material facts allegedly omitted in these bond issuances was the fact that fugitive financier Low Taek Jho was the principal controller and intermediary of 1MDB. – January 9, 2023.