Malaysian authorities have temporarily extradited former Goldman Sachs executive director Roger Ng in the US for criminal charges related to the alleged looting of a multi-billion-dollar public investment fund 1MDB, AP reported.

Ng, who was arrested in Malaysia last November, has been charged in both the US and Malaysia.

Malaysia's Attorney General Tommy Thomas said Malaysia agreed to hand him over to the US on May 3 for 10 months in order to initiate prosecution. According to him, Roger Ng will be returned to Malaysia for indictment as soon as production in the USA ends.

Malaysian and US prosecutors claim that the sale of the bonds, organized by Goldman Sachs for 1 MDB, has enabled former Prime Minister Najib Razak to steal billions of dollars over several years.