Ng Tells Court He Knew Jho Low Since 1mdb S Early Days

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Former Goldman Sachs banker Roger Ng Chong Wa said he knew Low Taek Jho (Jho Low) when the Terengganu Investment Authority (TIA) was founded in 2009, before it was renamed 1MDB.
He was queried in the Putrajaya High Court today about the fugitive businessperson by Najib Abdul Razak’s lead counsel, Shafee Abdullah.
Ng, 53, who was convicted in New York in 2013 for aiding the embezzlement of 1MDB funds and sentenced to 10 years in prison, was speaking at the trial of the former prime minister involving alleged misappropriation of RM2.3 billion from 1MDB.
“There were rumours that the Terengganu government wanted to set up a sovereign wealth fund. This was back in 2009, when I was working in the investment banking division of Goldman Sachs,” said Ng.
ADSShafee: Would it be correct to say that Jho Low was the one who approached you in order to connect with Goldman Sachs?
Ng: As for the client onboarding process at Goldman Sachs, my recollection is that we typically engage with potential clients. I would say we were always on the lookout for potential clients. I can’t recall who approached whom first, but in general, it’s a mutual process.
Ng, who was testifying as the 25th defence witness, also told the court that his former superior, Tim Leissner, had been charged and pleaded guilty in connection with 1MDB-related transactions. However, Low was charged in absentia.
Former Goldman Sachs senior banker Tim LeissnerShafee: Were you or was anyone among you, charged with conspiring with Datuk Seri Najib in the case?
Ng: “I don’t believe so.”
On Oct 30 last year, Judge Collin Lawrence Sequerah ruled that the prosecution had established a prima facie case, ordering Najib to enter his defence.
Najib, 71, is facing 25 charges, including four counts of abusing his position to accept RM2.3 billion in bribes from 1MDB funds and 21 charges of money laundering involving the same amount.
The hearing continues.
- Bernama

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