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Malaysian Fraud Fugitive Jho Low Paid Leonardo DiCaprio, Other Stars for Party Appearances - Reports
Malaysian Fraud Fugitive Jho Low Paid Leonardo DiCaprio, Other Stars for Party Appearances - Reports
Sputnik International
Jurors in a federal court in Brooklyn were reportedly told of Low’s lavish spending habits, including paying for the attention of models and celebrities, using... 17.02.2022, Sputnik International
2022-02-17T01:28+0000
2022-02-17T01:28+0000
2022-02-17T01:28+0000
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An executive has testified in court that Malaysian fugitive ‘Jho Low’ (Low Taek Jho) who is on the run with $700 million after a scam that defrauded a sovereign wealth fund, spent the stolen money on luxurious parties, and paid celebrities such as Leonardo DiCaprio, Megan Fox, Paris Hilton, and Kim Kardashian to make appearances at them, Bloomberg reported on Wednesday.Since Low is on the lam, former Goldman Sachs banker Roger Ng is now being accused of conspiring with former Goldman banker Tim Leissner to help Low divert $4.5 billion from the 1MDB fund. He was first indicted for the crime in 2018 and is facing trial this week.The 1Malaysia Development Berhad (1MDB) began in 2008 as an effort to use sovereign wealth to aid in the economic development of Terengganu state and to ensure the economic well-being of its residents.In 2020, Goldman Sachs Bank admitted to taking part in the fraud and agreed to pay $5 billion in fines for its role in the scandal. Leissner has already pleaded guilty and is helping federal prosecutors in their investigation. Reports say he will take the witness stand this week and testify against Ng.Prosecutors have claimed that Ng and his family received $35 million from the illegal scheme.Low, meanwhile, is still on the run. In 2018 he was indicted in the United States. He has yet to be arrested by either the United States or Malaysia. It is reported that he has been granted asylum by an unidentified country.
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Malaysian Fraud Fugitive Jho Low Paid Leonardo DiCaprio, Other Stars for Party Appearances - Reports
Jurors in a federal court in Brooklyn were reportedly told of Low’s lavish spending habits, including paying for the attention of models and celebrities, using millions to fund “Wolf of Wall Street”, and even a $3.6 million party in Las Vegas with a bar tab of 65 bottles of Cristal Champagne, which he paid $100,000 for in addition to a $38,955 tip.
An executive has testified in court that Malaysian fugitive ‘Jho Low’ (Low Taek Jho) who is on the run with $700 million after a scam that defrauded a sovereign wealth fund, spent the stolen money on luxurious parties, and paid celebrities such as Leonardo DiCaprio, Megan Fox, Paris Hilton, and Kim Kardashian to make appearances at them, Bloomberg reported on Wednesday.
Low paid large sums to high-profile celebrities to make appearances at the various parties he threw: for DiCaprio he paid $250,000, for Paris Hilton $100,000, Megan Fox received $250,000 and Kim Kardashian was given $50,000, according to reports.
Since Low is on the lam, former Goldman Sachs banker Roger Ng is now being accused of conspiring with former Goldman banker Tim Leissner to help Low divert $4.5 billion from the 1MDB fund. He was first indicted for the crime in 2018 and is facing trial this week.
The
1Malaysia Development Berhad (1MDB) began in 2008 as an effort to use sovereign wealth to aid in the economic development of Terengganu state and to ensure the economic well-being of its residents.
In 2020, Goldman Sachs Bank admitted to
taking part in the fraud and agreed to pay $5 billion in fines for its role in the scandal. Leissner has already pleaded guilty and is helping federal prosecutors in their investigation. Reports say he will take the witness stand this week and testify against Ng.
Prosecutors have claimed that Ng and his family received $35 million from the illegal scheme.
In 2020, Goldman Sachs’ chief executive, David Solomon, condemned the fraudulent actions of his employees and acknowledged that the bank’s failure to prevent such criminal behavior should come at a cost. “When a colleague knowingly violates a firm policy or much worse, the law, we, as a firm, have to accept responsibility and recognize the broader failure that individual behavior represents for our firm,” Solomon said.
Low, meanwhile,
is still on the run. In 2018 he was indicted in the United States. He has yet to be arrested by either the United States or Malaysia. It is reported that he has been
granted asylum by an unidentified country.
