PUTRAJAYA: Former Goldman Sachs banker Roger Ng (pic) first learnt from Jho Low about the setting up of 1Malaysia Development Berhad (1MDB) circa 2008 and 2009, the High Court heard.
Ng, who was subpoenaed as the 25th defence witness at the 1MDB trial yesterday, added that it was also then that he first came to know Low, whose real name is Low Taek Jho.
1MDB was then known as the Terengganu Investment Authority (TIA).
In his testimony, Ng said he could not recall whether he was approached by Low or vice versa when he first learnt of the setting up of the sovereign wealth fund. Lead defence counsel Tan Sri Muhammad Shafee Abdullah asked: “Would it be correct that it was Low who approached you to get to Goldman Sachs?”
In response, Ng said, “The process with regards to client adoption within Goldman Sachs, in my recollection, is that you engage potential clients.
“So, I would say that we’re always looking for potential clients. I can’t remember who approached who, but there was a mutual process that goes along.”
On the sovereign wealth fund, Ng said he learnt at that point of time that there were rumours about the setting up of TIA.
“Specifically, around that time, there were rumours on the set-up of a sovereign wealth fund.
“At that point of time, it was for the state of Terengganu,” said Ng.
Meanwhile, Ng denied being charged in the US courts for conspiring with Datuk Seri Najib Razak in connection with 1MDB.
Muhammad Shafee had asked Ng whether he, Tim Leissner or Low were charged in the US courts with conspiring with the former prime minister.
Ng replied: “I don’t believe so.”
In 2018, Leissner, who is also Goldman Sach’s former South-East Asia head, pleaded guilty to conspiring with Low, who remains a fugitive.
Ng was convicted in a New York court in April 2022 for aiding in the embezzlement of 1MDB funds and faces a 10-year prison sentence. He is expected to be extradited to the United States to face more charges related to the case.
