1MDB trial: Roger Ng testifies on Jho Low's role
PUTRAJAYA: Former Goldman Sachs banker Roger Ng Chong Wa told the High Court here today that he knew fugitive businessman Low Taek Jho or Jho Low, during the establishment of the Terengganu Investment Authority (TIA) in 2009, which was later renamed 1Malaysia Development Berhad (1MDB).
Ng, 53, who was convicted in New York in 2013 for aiding in the embezzlement of 1MDB funds and sentenced to 10 years in prison, said this when queried by Datuk Seri Najib Tun Razak's lead counsel Tan Sri Muhammad Shafee Abdullah at the trial of the former premier involving the 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.
Muhammad Shafee: 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,' replied Ng.
Ng who is 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, Jho Low was charged in absentia.
Muhammad Shafee: Were you or was anyone among you, charged with conspiring with Datuk Seri Najib in the case? Ng responded: 'I don't believe so.'
On Oct 30 last year, Justice Datuk Collin Lawrence Sequerah ruled that the prosecution had established a prima facie case, ordering Najib to enter his defence.
Najib, 71, is facing a total of 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.
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