FORMER Goldman Sachs banker Roger Ng said in a United States court filing that he had warned his bosses that Low Taek Jho was not to be trusted, Bloomberg reports.

Ng, who is facing trial in the US next year for  helping former prime minister Najob Razak and others embezzle at least US$2.7 billion from the 1Malaysia Development Bhd, is asking the court to drop the case against him as the alleged crimes were committed in Malaysia. 

Ng’s lawyer, Marc Agnifilo, says in the 126-page filing that his client had warned bosses and compliance and legal officers  to “use caution in dealing with Low” as early as March 2010, but was ignored. 

Ng argues that while he did introduce Low to the bank in 2009, it was his former boss at Goldman Sachs, Tim Leissner, who was the main conspirator with the Malaysian fugitive financier. 

He said there was no reason to believe Low was running a fraud scheme.

Ng said by 2012,  Low’s main intermediary with the bank was Leissner, who protected and lied for the Malaysian.

Leissner pleaded guilty to US corruption and money-laundering charges in 2018, and paid US$43.7 million in fines and restitution. 

US regulators also banned him for life from the securities industry.

Low, also known as Jho Low, has been charged in Malaysia over the scandal and is now on the run.

Goldman Sachs has agreed to pay billions of dollars in penalties to Malaysian and American authorities for the scandal.   

In the filing, Ng’s lawyer said a “silence provision” in the US settlement with 1MDB creates a constitutional crisis and denied his client’s right to a fair trial.

Agnifilo said the requirement would mean Goldman Sachs officials warned of Low would now be afraid to tell the truth on the matter. – November 24, 2020.