Singapore to Send 1MDB Money From Ex-Goldman Banker Back to Malaysia
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Singaporean authorities are preparing to return about S$35 million ($26 million) surrendered by former Goldman Sachs Group Inc. banker Roger Ng and his family in connection with the 1MDB scandal to Malaysia, according to people familiar with the matter.
A Singaporean court in recent weeks cleared the way for the funds to be repatriated, said the people, who asked not to be named discussing sensitive information. A court order was granted March 21 to repatriate about S$35 million of "seized 1MDB-related monies to the rightful owner, 1MDB," the city-state’s police said in an email reply to Bloomberg News. Ng’s lawyer didn’t respond to calls or an email for comment.