Financier Jho Low lost $26M at one casino, gambled with ex-Goldman star

Malaysian financier Jho Low’s extravagant way of life was on show this week throughout ex-Goldman Sachs banker Roger Ng’s embezzlement trial — with one on line casino government testifying that the flamboyant businessman as soon as misplaced almost $2 million in a single sitting whereas taking part in playing cards.

Prosecutors allege Low labored with Ng and fellow former Goldman banker Tim Leissner to divert $4.5 billion from Malaysia’s 1MDB fund – cash that they used to bankroll an opulent way of life. Low’s alleged antics resurfaced in testimony from Kirk Godby, a advertising and marketing government on the Venetian resort and on line casino in Las Vegas.

Low was a daily visitor on the Venetian, incessantly showing on the on line casino with an entourage and wagering enormous quantities of cash whereas taking part in baccarat, Godby claimed in his testimony. Godby claimed to the jury that Low misplaced about $26 million taking part in the cardboard sport throughout his journeys to the on line casino, together with $1.75 million throughout one memorable 90-minute session.

“He was extraordinarily extravagant,” Godby instructed the jury, according to Bloomberg. “He had requests that had been parallel to none. He made requests like he needed disco balls, dance flooring and DJs.”

Roger Ng faces federal prices in connection to the 1MDB fund scandal.
REUTERS/Eduardo Munoz

Godby stated Ng and Low gambled collectively throughout a visit to the Venetian in late 2010. Ng purportedly misplaced about $22,500 taking part in baccarat throughout an early-morning session throughout which Low positioned bets value about $4 million

Whereas prosecutors try to offer particulars about Ng’s dealings with Low, the Malaysian financier’s lavish way of life has been a topic of widespread scrutiny in recent times.

Earlier within the trial, prosecutors alleged that Low paid huge sums to persuade outstanding celebrities to attend his events, together with $250,000 to actor Leonardo DiCaprio, $250,000 to actress Megan Fox and $50,000 to actuality TV star-turned-mogul Kim Kardashian.

General views of The Venetian Resort Las Vegas on June 27, 2021 in Las Vegas, Nevada.
A advertising and marketing government on the Venetian resort and on line casino in Las Vegas testified within the trial this week.
GC Pictures

Federal authorities beforehand alleged that Low used greater than $8 million in embezzled funds to purchase jewellery for former Victoria’s Secret mannequin Miranda Kerr — and as soon as hosted a Las Vegas birthday in 2012 through which Britney Spears popped out of a birthday cake to serenade him.

Low has denied wrongdoing in connection to the scandal, stating in January 2020 that assertions he masterminded the plot to embezzle cash from Malaysia’s sovereign improvement fund had been “simply incorrect.”

He’s at present a fugitive whose whereabouts are unknown, having purportedly acquired asylum from a nation that has but to be recognized.

In the meantime, Ng, who was Goldman’s former head of funding banking in Malaysia, faces federal prices of conspiracy to launder cash and violate US anti-bribery legal guidelines. He pleaded not responsible.

Show More

Related Articles

Back to top button