(Bloomberg) — Jho Low was an enormous man in Vegas. He sported gold lame fits, traveled with an entourage and misplaced tens of thousands and thousands of {dollars}, a New York jury was informed.
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In a single 90-minute stint taking part in baccarat, his sport of selection, the Malaysian financier misplaced $1.75 million, Kirk Godby, a advertising govt on the Venetian in Las Vegas, testified.
All informed, Low wagered nearly $87 million on the Venetian and misplaced about $26 million, Godby estimated.
“He was extremely extravagant,” Godby mentioned. “He had requests that were parallel to none. He made requests like he wanted disco balls, dance floors and DJs.”
Godby was testifying within the bribery trial of former Goldman Sachs Group Inc. banker Roger Ng over the multibillion-dollar 1MDB rip-off. Ng is accused of conspiring with Low and Ng’s former boss Tim Leissner to assist the financier steal billions of {dollars} from three bond offers Goldman underwrote for the 1Malaysia Development Bhd. wealth fund. Low is now a fugitive.
Prosecutors could have known as Godby to refute Ng’s October 2009 claims to Goldman superiors that he had met Low solely as soon as earlier than, when he really helpful the financier as a non-public wealth consumer to the financial institution.
Low was generally known as a “premium” visitor on the Venetian who spent greater than $50,000 there, Godby mentioned.
Godby, who mentioned he’d been a advertising govt on the Venetian for greater than 20 years, defined to jurors it’s his job to “get people in the casino, get them in the door.” Casinos monitor guests’ wagers by way of their loyalty playing cards, and supply complimentary companies partially on how a lot folks wager and spend.
“We have the whole enchilada if you will,” Godby mentioned. “Rooms, food, beverages, spas, and shows, cash back.”
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Ng gambled with Low through the former banker’s sole go to to the Venetian in late November 2010, Godby informed the jury. Ng misplaced $22,500 taking part in baccarat throughout his go to, which happened earlier than the primary 1MDB bond deal closed in May 2012. Low performed on the similar desk as Ng on the morning of Nov. 29 at round 5 a.m. and positioned $4 million in bets, Godby testified.
The Venetian wasn’t the one Las Vegas on line casino Low frequented although.
To have a good time his twenty eighth birthday, Low had a bash at Caesars Palace, with Leonardo DiCaprio being flown in on a non-public jet and receiving $150,000 to attend the social gathering and a dinner, the jury was informed earlier within the trial.
The trial resumes Monday with prosecutors saying they anticipate to conclude their case as early as March 23. U.S. District Judge Margo Brodie informed jurors they may get the case as early as March. 29.
The case is U.S. v. Low Taek Jho, 18-cr-538, U.S. District Court, Eastern District of New York (Brooklyn).
(Updates with extra testimony starting in seventh paragraph.)
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