Macau billionaire in U.N. bribery case gets $50 million bail

By Nate Raymond

NEW YORK (Reuters) - A billionaire real estate developer from Macau accused by U.S. authorities of bribing a former United Nations General Assembly president on Friday won the right to be released on $50 million bail and live under house arrest in a luxury Manhattan apartment.

Ng Lap Seng, 68, had been in U.S. custody since his arrest on Sept. 19, after a federal judge previously determined his financial resources made the Chinese national too much of a flight risk.

But over the objections of a federal prosecutor, U.S. Magistrate Judge Kevin Fox in Manhattan accepted a proposal by Ng's attorneys to allow him to live under house arrest at a $3.6 million apartment under 24-hour watch by two private security guards.

The $50 million bail must be secured by $20 million cash and the apartment, Fox said, adding Ng must also wear an electronic monitoring bracelet and bear the guards' $200-an-hour cost.

Daniel Richenthal, the prosecutor, said the U.S. government may appeal. He argued it was "not appropriate for wealthy defendants to buy their freedom."

Benjamin Brafman, Ng's lawyer, countered that arrangements for home detention with security guards had been seen before, including with convicted Ponzi schemer Bernard Madoff.

"Rich people should not be put in jail just because they are rich," he said.

Fox also on Friday set bail at $500,000 for another defendant in the case, Sheri Yan, who was Global Sustainability Foundation's chief executive officer, and ordered house arrest.

Ng was arrested Sept. 19 with his assistant, Jeff Yin, for allegedly making false statements to customs officials as to why they brought $4.5 million in cash into the United States from China.

They were charged on Oct. 6 with four others, including Yan and John Ashe, a former ambassador to the United Nations from Antigua and Barbuda who served as U.N. General Assembly president from 2013-14, for engaging in a corruption scheme.

Prosecutors said Ashe took over $1.3 million in bribes from Chinese businessmen including Ng, who has a net worth of $1.8 billion and $1 billion in real estate holdings.

Prosecutors said Ng, who heads Sun Kian Ip Group, paid Ashe over $500,000 through intermediaries to seek the United Nations' support of a U.N.-sponsored conference center in Macau.

The intermediaries included Francis Lorenzo, a now-suspended deputy U.N. Ambassador from the Dominican Republic, who prosecutors said Ng also bribed.

Those bribes include the $3.6 million apartment Ng owns and will reside in, according to Richenthal, who said it was "effectively gifted" to Lorenzo.

(Reporting by Nate Raymond in New York, editing by G Crosse)

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