Federal jury in Brooklyn to hear opening statements in the corruption trial of a former Goldman Sachs executive charged in the multibillion-dollar ransacking of a Malaysian state investment fund.
The Associated Press
In fact, his attorneys contend, it was Ng who raised the earliest red flags about Low Taek Jho, the Malaysian financier and fugitive known as Jho Low who is accused of masterminding the massive money laundering and bribery scheme. Ng, 49, has pleaded not guilty to counts of conspiring to launder money and violating an anti-bribery law. Federal prosecutors say he conspired with Low to launder pilfered funds through the U.S. financial system. They say he played a key role in a scheme in which laundered money also was used to bribe foreign officials.
A message was sent to Goldman Sachs seeking comment. A Goldman Sachs subsidiary admitted “knowingly and willfully” conspiring to violate U.S. anti-bribery laws, agreeing to pay more than $2.9 billion. The penalties included roughly $600 million in profits Goldman made off the 1MDB scandal. That came on top of $3.9 billion Goldman paid Malaysia.
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