, now a fugitive, in their fund-raising efforts for 1MDB, they came up with code names for Low including"friend" and"PMO" , Tim Leissner told the jury on Tuesday .
Leissner, the former chairman of Goldman’s South-East Asia business, testified that he and his subordinate Ng - along with senior Goldman officials including Andrea Vella, a former co-head of investment banking in Asia - used the code names to conceal the extent of Low’s involvement in the fund-raising projects from other partners at the bank.
"Had we raised his name in his true capacity, we would not have been approved by Goldman oversight officials," Leissner, 52, said in his second day of testimony about the scheme in federal court in Brooklyn, New York.But they were threading a needle, Leissner suggested. He told the jurors how the same group decided to acknowledge some level of involvement by Low, because he was already publicly associated with 1MDB.
When asked by oversight personnel, Leissner said they agreed to say Low was connected to 1MDB’s predecessor fund and that he had ties to Abu Dhabi, where government entities had agreed to provide support for 1MDB.Leissner has pleaded guilty to money laundering and bribery of foreign officials. Ng, former head of investment banking in Malaysia, is charged with conspiring with him to launder money and violate U.S. anti-bribery laws. He is the only former Goldman banker to go on trial in the scandal.Article type: metered
Source: Law Daily Report (lawdailyreport.net)
NajibRazak How are you my Friend ?
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: staronline - 🏆 4. / 75 Read more »
Source: NST_Online - 🏆 17. / 53 Read more »
Source: malaymail - 🏆 1. / 86 Read more »
Source: staronline - 🏆 4. / 75 Read more »