Former Goldman Sachs Banker Gets Bail For $20mn Bond

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Roger Ng, a former Goldman Sachs banker who was extradited from Malaysia was released early this week after submitting a bond of $20 million and is likely to face charges of money laundering which also helped to finance Hollywood blockbuster “The Wolf of Wall Street”.  During the hearing at a Brooklyn court he appeared ill and disoriented and pleaded not guilty to the charges of money laundering and conspiracy to violate FCP Act on two counts. He is a Filipino citizen and was arrested in Kuala Lumpur after being accused by Federal officials of participating in an online embezzlement scheme to remove more than $2.7 billion from a sovereign wealth fund of Malaysia known as 1 MDB. Feds said that he then used these funds to finance Hollywood movies, purchase luxury apartments in NYC and expensive art collections across the world.

Following the investigation by Feds, Red Granite Pictures that made movies like Daddy’s Home, The Wolf of Wall Street as well as Dumb and Dumber 2 stated that it will pay settlement sum of $60 million on charges that it used the stolen funds. One of the firm’s founders is stepson of Najib Razak, the former PM of Malaysia who was charged with corruption and overseeing the 1 MDB. Defense lawyer of Roger Ng, Marc Agnifilio stated that Ng contracted dengue fever during his incarceration in Malaysia and was told to come to New York and fight the charges leveled against him instead of languishing in Malaysian jail. Ng will be staying under house arrest at a location in NYC and will be monitored electronically. His bond was secured for $1 million cash which was co-signed by a relative and magistrate Peggy Kuo stated that he was engaged in negotiations with prosecutors and would most likely resolve his case without trial. He was indicted along with flamboyant financer Jho Low and another ex-Goldman Sachs banker Tim Leissner.

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