An ex-Goldman Sachs banker testified in federal court on Wednesday that greed and ambition motivated his participation in a large bribery scheme that stole billions of dollars from the Malaysian sovereign wealth fund 1MDB.
The former chief of Goldman’s Southeast Asia operation — Tim Leissner — is the excessive profile witness in the criminal trial of Roger Ng, former head of funding banking in Malaysia.
The trial began in federal courtroom on Monday in Brooklyn, New York.
Roger Ng is accused of receiving tens of millions of dollars in kickbacks for his involvement in embezzling funds from 1MDB and for serving to to type a relationship with the Malaysian finances Jho Low, who was the main mediator between 1MDB and the financial institution.
However, Ng’s lawyer on Wednesday asserted that Ng did not play a job in the embezzlement scheme allegedly dedicated by Low and Leissner.
Leissner stated in 2012 that those who would have to be bribed included the then Malaysian Prime Minister Datuk Seri Nab Razak.
Malaysian authorities accuse the previous PM of having obtained more than US$1 billion linked to the fund.
Razak, who was voted out of office in 2018, has denied wrongdoing and appealed a 12-year jail sentence.
Meanwhile, Ng has pleaded not responsible in conspiring to violate an anti-bribery regulation and engage in cash laundering.
In a 2018 trial, Leissner pleaded responsible to similar charges and agreed to cooperate with the government’s ongoing felony investigation.
He said that his greed and ambition took over, but that the results of his actions had destroyed his life.
1MDB earned US $600 million in charges and bought for US$6.5 billion in bonds for the fund.
In Myths , the bank paid a massive fine of practically US$3 billion and made preparations for its Malaysian branch to plead guilty in US courtroom..