A former Goldman Sachs banker was convicted of bribery and other corruption charges accusing him of participating in a $4.5 billion scheme to ransack the Malaysian state investment fund known as 1MDB.
The Associated Press
Defense attorney Marc Agnifilo said he was surprised by the verdict because “the evidence wasn’t reliable,” and that an appeal was under consideration. He also said the defense team was more disappointed than his client.The embezzlement bankrolled lavish spending on jewels, art, a superyacht and luxury real estate. The spoils even helped finance wild parties and Hollywood movies, including the 2013 Martin Scorsese film “The Wolf of Wall Street” that starred Leonardo DiCaprio.
Prosecutors alleged that Ng and other Goldman Sachs bankers helped 1MDB raise $6.5 billion through bond sales — only to divert $4.5 billion of it to themselves and their co-conspirators through bribes and kickbacks. “Roger is basically the fall guy for this whole thing,” Agnifilo previously said. “And Tim Leissner is looking to close the biggest deal of his life.”
He also described a dinner in London around 2012 where Low informed he and Ng they would be receiving kickbacks. Leissner said he knew that would be illegal, but didn’t care because if the deal went through he would be “a hero” at Goldman Sachs.
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