New York (CNN Business) Roger Ng, a former Goldman Sachs banker charged by the US Justice Department for his role in Malaysia's multi-billion dollar embezzlement scandal, will be sent to the United States to appear in federal court. The former Goldman managing director is charged with conspiracy to launder billions of dollars embezzled from 1Malaysia Development Berhad, Malaysia's state investment fund. The Justice Department claims that conspirators misappropriated $4.5 billion from the 1MDB fund, and has zeroed in on Goldman's role in the scheme. The bank has been in negotiations with the agency for monthsGoldman GS orchestrated three large bond offerings for 1MDB in 2012 and 2013. The bond sales, which raised a total of $6.5 billion, earned Goldman Sachs $600 million in fees.

Source: CNN February 15, 2019 18:33 UTC