A defense lawyer for a Chinese billionaire arrested in a United Nations bribery scandal says his client needs a speedy trial because his businesses are being damaged.

Attorney Benjamin Brafman demanded an immediate trial Thursday for Ng Lap Seng (eeng lap sihng). Seng, arrested in September, has worn an electronic bracelet and been guarded around-the-clock by private security at a luxury Manhattan apartment since his release on $50 million bail.

Brafman said Ng's businesses were starting to suffer substantial setbacks as a result of the arrest. Ng has been charged in a bribery conspiracy with five others, including a former president of the U.N. General Assembly. He has pleaded not guilty.

Federal Judge Vernon Broderick told prosecutors to let him know next month when they will be ready for trial.