The Latest: Banker in Malaysian case ordered free on US bail

NEW YORK (AP) — The Latest on the extradition of a former Goldman Sachs banker in 1MDB investment fund scandal (all times local):

3:25 p.m.

A former Goldman Sachs executive accused in the alleged multibillion-dollar ransacking of a Malaysian state investment fund has made an initial court appearance in the U.S.

Roger Ng was ordered released on $1 million cash bail after appearing at a federal court in New York City.

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The terms of his release call for home detention and electronic monitoring.

Ng was arrested in Malaysia in November.

Malaysian and U.S. prosecutors allege that bond sales organized by Goldman Sachs for the 1MDB fund provided a way for associates of Malaysian ex-leader Najib Razak to steal billions over several years.

Ng has been charged in both countries.

Malaysia’s attorney general said the country had agreed to surrender Ng to the U.S. for 10 months so that the U.S. prosecution can proceed first.

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8:50 a.m.

Malaysia’s attorney general says former Goldman Sachs executive Roger Ng has been temporarily extradited to the U.S. to face criminal charges linked to the alleged multibillion-dollar ransacking of state investment fund 1MDB.

Ng, who was arrested in Malaysia in November, has been charged both in the U.S. and Malaysia.

Attorney General Tommy Thomas says Malaysia agreed to surrender Ng to the U.S. on May 3 for 10 months so that the U.S. prosecution can proceed first. Thomas said in a statement Monday that Ng will be returned to Malaysia to face charges as soon as the U.S. proceedings are over.

Malaysian and U.S. prosecutors allege that bond sales organized by Goldman Sachs for 1MDB provided a way for associates of Malaysian ex-leader Najib Razak to steal billions over several years.

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