PUTRAJAYA – Former Goldman Sachs banker Roger Ng told the high court here that he was never accused of conspiring with Datuk Seri Najib Razak in any United States court.
Ng, who is the former head of investment banking at Goldman Sachs Malaysia, made the statement while testifying as the 25th defence witness in former prime minister Najib’s trial for allegedly misappropriating RM2.3 billion in funds belonging to 1Malaysia Development Bhd (1MDB).
Ng was convicted on three conspiracy charges related to 1MDB transactions at the US Federal Court in Brooklyn (Eastern District Court) on March 9, 2023. He was sentenced to 10 years in prison by judge Margo Brodie.
In today’s testimony, Ng, whose full name is Chong Hwa and who was charged alongside former Goldman Sachs partner Tim Leissner and businessman Low Taek Jho (commonly known as Jho Low), denied conspiring to bribe anyone or engaging in money laundering, as part of his defence in the US proceedings.
Brought back to Malaysia to assist local investigations, Ng testified that he strongly blames Leissner and Jho Low – both currently wanted by Malaysian authorities – for the 1MDB-related transactions.
Answering questions from Najib’s lead counsel, Tan Sri Muhammad Shafee Abdullah, Ng said that he is currently awaiting the outcome of his appeal against the US conviction.
When asked by Shafee whether he or anyone else had conspired with Najib in the case, Ng replied: “I don’t think so.”
He agreed with the defence that the charges against him involved conspiracy to violate anti-bribery laws by bribing foreign officials, conspiracy to circumvent Goldman Sachs’ internal controls, and conspiracy to launder money.
When further questioned about whether he had raised red flags about Jho Low to Goldman Sachs, Ng responded: “Yes.”
At that point, Ng informed the court that he remained subject to a protective order from the US court, which prohibits him from discussing matters related to the US trial, particularly documents presented there.
When asked whether Jho Low was someone he tried to avoid and whether Goldman Sachs had acted on the warnings, Ng said he could not answer due to the court order.
Ng also declined to respond when Shafee asked if the questions were subject to the same protective order.
Ng confirmed he had known Jho Low since the establishment of the Terengganu Investment Authority (TIA) in 2009, which later became 1MDB.
He said at the time there were rumours that the Terengganu state government intended to create a sovereign wealth fund. Ng was then working in Goldman Sachs’ Investment Banking division.
When asked whether it was accurate to say that Jho Low had approached him to engage with Goldman Sachs, Ng said he couldn’t recall who approached whom first, but generally described it as a mutual process.
The testimony was given during Najib’s trial, where he is defending himself against four charges of abuse of power to obtain RM2.3 billion in bribes linked to 1MDB, and 21 counts of money laundering.
The hearing before judge Datuk Collin Lawrence Sequerah will resume in the afternoon session. – April 24, 2025