1MDB Case: Malaysia Extradites Former Banker to the U.S. and U.S. Indicts Malaysian Financier for Foreign and Conduit Election Contributions

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Friday, May 17, 2019
Author: 
Bruce Zagaris
Volume: 
35
Issue: 
5
Abstract: 

On May 7, 2019, the United States government announced Malaysia has extradited Ng Chong Hwa, 46, and a Malaysian national, also known as “Roger Ng,” to face charges of conspiring to launder billions of dollars embezzled from 1Malaysia Development Berhad (1MDB), Malaysia’s investment development fund.  The indictment also charges him with conspiring to violate the Foreign Corrupt Practices Act (FCPA) by paying bribes to multiple government officials in Malaysia and Abud Dhabi, and conspiring to violate the FCPA by circumventing the internal accounting controls of a major New York-headquartered financial institution. On May 10, 2019, the U.S. government announced the unsealing of a four-count indictment in the District of Columbia for conspiring to make and conceal foreign and conduit campaign contributions during the U.S. presidential election in 2012.