The jury convicted Ng of two counts of conspiracy to violate the Foreign Corrupt Practices Act and one count of conspiracy to commit money laundering.
Deliberations began on Tuesday after a nearly two-month trial in federal court in Brooklyn.
The charges stemmed from one of the biggest financial scandals in history.
Prosecutors have said Goldman helped 1MDB raise $6.5 billion through three bond sales, but that $4.5 billion was diverted to government officials, bankers and their associates through bribes and kickbacks between 2009 and 2015.
Jurors heard nine days of testimony from Leissner, who said he sent Ng $35 million in kickbacks. Leissner said the men agreed to tell banks a “cover story” that the money was from a legitimate business venture between their wives.
Ng’s wife, Hwee Bin Lim, later testified for the defense that the business venture was, in fact, legitimate. She said she invested $6 million in the mid-2000s in a Chinese company owned by the family of Leissner’s then-wife, Judy Chan, and that the $35 million was her return on that investment.
Ng’s lawyer, Marc Agnifilo, said in his closing argument on Monday that Leissner could not be trusted. Alixandra Smith, a prosecutor, said in her summation that Leissner’s testimony was backed up by other evidence.
Jho Low, a Malaysian financier and suspected mastermind of the scheme, was indicted alongside Ng in 2018 but remains at large.
Quoted from Various Sources
Published for: The Bloggers Briefing