‘Extravagant’ financier Jho Low lost $26M playing baccarat during trips to Vegas casino

Malaysian financier Jho Low’s extravagant lifestyle was on display this week during ex-Goldman Sachs banker Roger Ng’s embezzlement trial — with one casino executive testifying that the flamboyant businessman once lost nearly $2 million in one sitting while playing cards.

Prosecutors allege Low worked with Ng and fellow former Goldman banker Tim Leissner to divert $4.5 billion from Malaysia’s 1MDB fund – money that they used to bankroll an opulent lifestyle. Low’s alleged antics resurfaced in testimony from Kirk Godby, a marketing executive at the Venetian resort and casino in Las Vegas.

Low was a regular guest at the Venetian, frequently appearing at the casino with an entourage and wagering huge amounts of money while playing baccarat, Godby claimed in his testimony. Godby claimed to the jury that Low lost about $26 million playing the card game during his trips to the casino, including $1.75 million during one memorable 90-minute session.

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

Godby said Ng and Low gambled together during a trip to the Venetian in late 2010. Ng purportedly lost about $22,500 playing baccarat during an early-morning session during which Low placed bets worth about $4 million

While prosecutors are attempting to provide details about Ng’s dealings with Low, the Malaysian financier’s lavish lifestyle has been a subject of widespread scrutiny in recent years.

Earlier in the trial, prosecutors alleged that Low paid massive sums to convince prominent celebrities to attend his parties, including $250,000 to actor Leonardo DiCaprio, $250,000 to actress Megan Fox and $50,000 to reality TV star-turned-mogul Kim Kardashian.

Federal authorities previously alleged that Low used more than $8 million in embezzled funds to buy jewelry for former Victoria’s Secret model Miranda Kerr — and once hosted a Las Vegas birthday in 2012 in which Britney Spears popped out of a birthday cake to serenade him.

Low has denied wrongdoing in connection to the scandal, stating in January 2020 that assertions he masterminded the plot to embezzle money from Malaysia’s sovereign development fund were “just wrong.”

He is currently a fugitive whose whereabouts are unknown, having purportedly received asylum from a nation that has yet to be identified.

Meanwhile, Ng, who was Goldman’s former head of investment banking in Malaysia, faces federal charges of conspiracy to launder money and violate US anti-bribery laws. He pleaded not guilty.