Wednesday 06 Dec 2023
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KUALA LUMPUR (Nov 2): Low Taek Jho, better known as Jho Low, has maintained his innocence after the US Department of Justice (DoJ) indicted him, along with two former Goldman Sachs bankers, on Thursday (Nov 1) for conspiring to launder billions of dollars embezzled from 1Malaysia Development Bhd (1MDB).

"Mr. Low maintains his innocence. As noted in the indictment today, Mr. Low held no formal position at 1MDB, nor was he ever employed by Goldman Sachs, or the governments of Malaysia or Abu Dhabi. Furthermore, the bond offerings detailed in the indictment were undertaken openly and lawfully between experienced, well-regulated financial institutions and government entities," Low's legal team said in a statement on Thursday in response to the indictment.

"The DoJ specifically states that the charges in the indictment are allegations, and that Mr. Low is presumed innocent unless and until proven guilty. Mr. Low simply asks that the public keep an open mind regarding this case until all of the evidence comes to light, which he believes will vindicate him," the statement added.

According to a statement by the DoJ last night, Tim Leissner, former partner for Goldman Sachs in Asia, has pleaded guilty to conspiracy to launder money and conspiracy to violate the Foreign Corrupt Practices Act, and agreed to forfeit US$43.7 million.

Roger Ng, the other banker charged, was arrested in Malaysia and is expected to be extradited. Low remains at large.

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