‘High-roller’ Jho Low lost nearly US$26mil at baccarat table, US trial told

‘High-roller’ Jho Low lost nearly US$26mil at baccarat table, US trial told

Las Vegas casino executive says the fugitive financier was 'extremely extravagant'.

Jho Low asked for disco balls, dance floors and DJs, a Las Vegas casino executive told Roger Ng’s 1MDB trial in New York. (Bloomberg pic)
NEW YORK:
Fugitive financier Low Taek Jho, or Jho Low, was a big man in Las Vegas.

He sported gold lame suits, travelled with an entourage and lost tens of millions of dollars, according to testimony on Thursday.

He was such a high-roller he lost US$1.75 million in a single 90-minute stint playing baccarat, his game of choice, a marketing executive with the Venetian in Las Vegas told a jury in federal court in Brooklyn, New York.

All told, Low wagered almost US$87 million and lost nearly US$26 million, the executive, Kirk Godby, estimated.

“He was extremely extravagant,” Godby said. “He had requests that were parallel to none. He made requests like he wanted disco balls, dance floors and DJs.”

Godby was testifying in the foreign bribery trial of former Goldman Sachs Group Inc banker Roger Ng over the multi-billion-dollar 1MDB scam. Ng is accused of conspiring with Low and Ng’s former boss, Tim Leissner, to help the financier steal billions of dollars from three bond deals Goldman underwrote for 1MDB.

Ng gambled with Low during the financier’s sole visit to the Venetian in late November 2010, Godby told the jury.

He lost US$22,500 playing baccarat during his visit, which took place before the first 1MDB bond deal closed in May 2012. Low played at the same table as Ng on the morning of Nov 29 at around 5am and placed US$4 million in bets, Godby testified.

Prosecutors may have called Godby to refute Ng’s October 2009 claims to Goldman superiors that he had met Low only once before, when he recommended Low as a private wealth client for the bank.

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