KUALA LUMPUR – A government witness in the federal conspiracy trial of former Goldman Sachs banker Roger Ng had testified yesterday that millions of dollars drained in the 1MDB scandal were spent by a Malaysian financier on luxurious parties and celebrity guests.
The witness, Alex Cohen, is the chief financial officer of Strategic Group, an entertainment and marketing company that organised such parties for Malaysian businessman Low Taek Jho, also known as Jho Low.
According to Bloomberg, Cohen testified that Low had provided Strategic Group with at least 25% of its profits in 2012, paying US$5,000 just for the talent scouting for one particular event – all with the roughly US$700 million allegedly sourced by Low from 1MDB.
The jury in Brooklyn, New York, also heard about invoices from a Las Vegas party for Low, where expenses such as food, beverages, “talent” and “top quality models” added up to more than US$3.6 million.
Bloomberg further reported that the jury panel was told about “celebrity fees” paid to Hollywood stars such as Leonardo DiCaprio (US$250,000), Paris Hilton (US$100,000), Megan Fox (US$250,000), and Kim Kardashian (US$50,000).
Ng, former head of investment banking in Malaysia for the global financial services company, is charged with conspiring to launder money and violating an anti-bribery law.
Prosecutors are set to call in Tim Leissner, Ng’s former boss at the bank’s Southeast Asia branch, as their key witness.
Defence lawyer Marc Agnifilo, meanwhile, said in his opening statement that Ng had no part in the plan allegedly executed by Leissner together with Low, who acted as a middleman in deals where Goldman helped 1MDB sell US$6.5 million in bonds.
Low was indicted in the United States alongside Ng in 2018. The accused mastermind behind the scheme has not been arrested by either US or Malaysian authorities. – The Vibes, February 16, 2022
