A US jury found Ex-Goldman banker Roger Ng guilty of conspiracy to launder money and violating anti-bribery laws.
The case involves the largest financial scandal in history. Ng pleaded not guilty to the charges and argued that Leissner framed him in hopes of obtaining leniency.
The government is expected to question Leissner, who was involved in a scheme to bribe officials, embezzle funds and keep some of the money for his personal use. The government’s attorney, Michael Agnifilo, counters that Leissner lied to prosecutors and spent much of his opening statement attacking Ng’s credibility.
The trial also revealed that Roger Ng did not attend key meetings that involved the scheme. However, the government’s key witness admitted to lying in court. Despite his felony conviction, Ng will still be sentenced to a maximum of 30 years in prison if he is found guilty. A defense attorney is expected to comment shortly. However, it is not expected that Ng will be sentenced immediately.
The evidence presented in the trial revealed that Ng knew that large portions of the proceeds from the bonds would be diverted. The proceeds from the scheme were then used for lavish spending, luxury real estate and superyachts. The scheme was designed to help the Malaysian government get more money and avoid sanctions. For this reason, the trial against Ng has been a sham.
In his trial, the jury heard testimony about how Ng allegedly paid kickbacks to government officials in Malaysia and Abu Dhabi. The case also involved Jho Low, a wealthy Malaysian businessman, who is still at large. The Malaysian financier remains at large. The case focuses on the alleged corruption in the 1MDB scheme.
The case against Ng stems from a complex set of legal maneuvers. The Financial Institution was the beneficiary of millions of dollars in illegal payments to bribe officials in Malaysia, Abu Dhabi, and the United States. In exchange for these bribes, Low and Leissner received huge bonuses, which further enhanced their reputation within the Financial Institution.