U.S. jury deliberates in ex-Goldman banker’s 1MDB corruption trial

NEW YORK, April 8 (Reuters) – A U.S. jury resumed deliberations on Friday in the trial of a previous Goldman Sachs (GS.N) banker accused of helping loot billions of pounds from Malaysia’s 1MDB sovereign prosperity fund.

Prosecutors say Roger Ng, Goldman Sachs Team Inc’s former leading expenditure banker for Malaysia, served his then-boss Tim Leissner embezzle money from the fund — which was founded to pursue advancement initiatives in the Southeast Asian state — launder the proceeds and bribe officers to gain small business for Goldman.

Ng, 49, has pleaded not responsible to conspiring to launder revenue and violating an anti-corruption legislation. His attorneys say Leissner, who pleaded responsible to similar rates in 2018 and agreed to cooperate with prosecutors’ investigation, falsely implicated Ng in the hopes of acquiring a lenient sentence.

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The expenses stemmed from a single of the greatest money scandals in heritage.

Prosecutors have stated Goldman served 1MDB raise $6.5 billion as a result of three bond profits, but that $4.5 billion was diverted to federal government officers, bankers and their associates via bribes and kickbacks involving 2009 and 2015.

Ng is the initially, and probably only, person to face demo in the United States around the scheme. Goldman in 2020 paid out a almost $3 billion fantastic and its Malaysian unit agreed to plead guilty.

Deliberations started on Tuesday immediately after a nearly two-month trial in federal court in Brooklyn.

Jurors listened to nine days of testimony from Leissner, who explained he despatched Ng $35 million in kickbacks. Leissner stated the gentlemen agreed to notify banking institutions a “cover story” that the money was from a reputable enterprise undertaking involving their wives.

Ng’s spouse, Hwee Bin Lim, later testified for the protection that the enterprise undertaking was, in point, genuine. She mentioned she invested $6 million in the mid-2000s in a Chinese enterprise owned by the household of Leissner’s then-spouse, Judy Chan, and that the $35 million was her return on that financial commitment.

Ng’s lawyer, Marc Agnifilo, stated in his closing argument on Monday that Leissner could not be trustworthy. A prosecutor, Alixandra Smith, claimed in her summation that Leissner’s testimony was backed up by other proof.

Jho Minimal, a Malaysian financier and suspected mastermind of the scheme, was indicted together with Ng in 2018 but remains at massive.

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Reporting by Luc Cohen in New York enhancing by Jonathan Oatis

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