Roger Ng’s 1MDB trial continues with ex-Goldman Sachs compliance officer Patrick Kidney presented to potentially show that the former banker continued to do business with Jho Low even after he raised alarms internally.
According to Patrick Kidney, defendant Roger Ng had advised Goldman Sachs’ compliance department not to take Jho Low’s claims about his wealth size and source «at face value».
«There are no other sources giving negative feedback?» Ng’s defense lawyer Marc Agnifilo questioned.
«That’s correct,» Kidney said.
Duplicity?
The prosecutor's move to raise attention to Ng’s warnings to the bank’s compliance department could be to show that he acted against the advice and continued to do business with low.
Ng claims that he met low only once by late 2009 but the government has produced emails indicating that Ng met with low on October 31, 2009, in New York and again the next day.
Upon questioning by Agnifilo, Kidney also said that no one on his compliance team informed Ng of their decision to reject Low as a client.
«Going in Circles»
When asking for information on the size and source of wealth, Low would provide data to the compliance team that would send them «going in circles», according to Kidney.
In addition, there were other issues about onboarding Low as a private client such as links to politically exposed persons.
«There were so many unresolved issues, so many red flags, so many issues of alleged corruption,» Kidney said.
