https://www.justice.gov/usao-edny/pr/former-banker-extradited-malaysia-united-states-face-charges-multi-billion-dollar-money
Ng Chong Hwa
co-defendant Low Taek Jho
funding hollywwod films
purchasing artwork from a New York-based auction hous
As set forth in the indictment, between approximately 2009 and 2014, Ng conspired with others to launder billions of dollars misappropriated and fraudulently diverted from 1MDB, including funds 1MDB raised in 2012 and 2013 through three bond transactions it executed with the Financial Institution. As part of the scheme, Ng and others conspired to bribe government officials in Malaysia and Abu Dhabi to obtain and retain lucrative business for the Financial Institution, including the 2012 and 2013 bond deals. They also conspired to launder the proceeds of their criminal conduct through the U.S. financial system by funding major Hollywood films and purchasing, among other things, artwork from a New York-based auction house and luxury residential real estate in New York City and elsewhere.