NEW YORK (AP) – A former Goldman Sachs banker was convicted Friday of bribery and other corruption charges accusing him of participating in a $4.5 billion scheme to ransack the Malaysian state investment fund known as 1MDB.
A jury reached the verdict at the U.S. trial of Roger Ng in federal court in Brooklyn. Jurors had heard nearly two months of evidence about tens of millions of dollars in bribes and kickbacks allegedly orchestrated by Malaysian financier and fugitive socialite Low Taek Jho, better known as Jho Low.
Defense attorney Marc Agnifilo told reporters outside court that he was surprised by the verdict because “the evidence wasn’t reliable,” and that he was considering an appeal. He also said the defense team was more disappointed than his client.
Ng “is doing better than his lawyers,” Agnifilo said. “He has great fortitude.”
The embezzlement bankrolled lavish spending on jewels, art, a superyacht and luxury real estate. The spoils even helped finance wild parties and Hollywood movies, including the 2013 Martin Scorsese film “The Wolf of Wall Street” that starred Leonardo DiCaprio.