A jury reached the verdict at the U.S. trial of Roger Ng in federal court in Brooklyn. Jurors had heard nearly two months of evidence about tens of millions of dollars in bribes and kickbacks allegedly orchestrated by Malaysian financier and fugitive socialite Low Taek Jho, better known as Jho Low.
A former head of investment banking in Malaysia, Ng is the only Goldman banker to stand trial in the 1MDB scandal. The 49-year-old had pleaded not guilty to three counts — conspiring to launder money and violating two anti-bribery laws. Ng’s defense attorneys have described the looting of 1MDB state investment fund as “perhaps the single largest heist in the history of the world.” But they contend U.S. prosecutors scapegoated Ng for crimes committed by others, including the government’s star witness, Tim Leissner.
“If we told any bank the truth, it wouldn’t work,” he said. “The house of cards would have fallen down.” The defense claimed that some of the $35 million Ng received through Leissner — money prosecutors said were illicit proceeds from the scheme — was actually the proceeds of a legitimate business transaction between the two men’s wives.
Can't stop financial crimes of greed when the government does the same thing. Hypocrites
Billion Dollar Whale : The Story of Jho Low by Tom Wright & Bradley Hope - The Summary -
Was he working on Goldman Sachs while he was committing the fraud? Also, story suggests this was in coordination with others at Goldman Sachs.
Isn't he a lovely person 😡