In Vegas, Jho Low was a huge deal. A New York jury was informed that he wore gold lame suits, traveled with an entourage, and lost tens of millions of dollars.
The Malaysian banker lost $1.75 million in a single 90-minute session of baccarat, his preferred game, according to Kirk Godby, a marketing executive at the Venetian in Las Vegas.
According to Godby, Low bet about $87 million at the Venetian and lost around $26 million.
Godby described him as “very flamboyant.” “He had demands that were unparalleled. He made demands for disco lights, dance floors, and DJs.”
Godby was testifying in former Goldman Sachs Group Inc. banker Roger Ng’s bribery trial in connection with the multibillion-dollar 1MDB scheme. Ng is accused of collaborating with Low and Ng’s former boss Tim Leissner to assist the financier in stealing billions of dollars from three bond transactions Goldman underwrote for the 1Malaysia Development Bhd. wealth fund. Low is now on the run.
Prosecutors may have brought Godby to counter Ng’s October 2009 statements to Goldman executives that he had only seen Low once previously, when he suggested the financier to the firm as a private wealth client.
Jho Low was a premium
Jho low pay a visit at the Venetian who spent more than $50,000 there.
Godby, who claimed to have worked as a marketing executive at the Venetian for over 20 years, told jurors that his goal is to “get them in the casino, get them in the door.” Casinos use loyalty cards to monitor visitors’ wagers and give complementary services based on how much they gamble and spend.
“We’ve got the entire shebang, if you will,” Godby remarked. “Cash back on rooms, meals, drinks, spas, and performances.”
Godby testified before the jury that Ng gambled with Low on the former banker’s single visit to the Venetian in late November 2010. During his visit, Ng lost $22,500 playing baccarat, which occurred before the first 1MDB bond sale completed in May 2012. Godby testified that Low played at the same table as Ng on Nov. 29 at roughly 5 a.m. and bet $4 million.
However, the Venetian was not Low’s sole Las Vegas casino.
Low held a party at Caesars Palace to mark his 28th birthday, with Leonardo DiCaprio being brought in on a private plane and getting $150,000 to attend the party and supper, the jury was told earlier in the trial.
The trial begins on Monday, with prosecutors stating that they hope to finish their case as soon as March 23. U.S. District Judge Margo Brodie informed jurors that the case might be heard as early as March 29.