Ex-Goldman Banker to Serve Prison Sentence in 1MDB Case
Former Goldman Sachs banker Tim Leissner is prepared to serve a prison sentence over his role in the 1MDB scandal.
Tim Leissner, 55, has been sentenced to two years in prison by a New York court judge for his role in the 1MDB scandal, according to a «Reuters» report citing legal proceedings. Leissner's lawyer Henry Mazurek, a partner at Meister Seelig & Fein PLLC, said he would be «prepared to serve his sentence and continue his future life of good works and care for his family».
Goldman Sachs helped sell $6.5 billion of bonds for 1MDB but an estimated $4.5 billion were stolen. Leissner, Goldman’s former Southeast Asia chairman, pleaded guilty in 2018 to a conspiracy to violate the Foreign Corrupt Practices Act and participating in a money laundering conspiracy for his role in the scandal. The US bank also paid a record $2.9 billion fine and arranged for its Malaysian unit to plead guilty.
Leissner became a US government witness after his arrest in 2018 and agreed to testify against Roger Ng, colleague and ex-Goldman head of investment banking in Malaysia. Ng was convicted in the US and sentenced to 10 years in prison but was transported to Malaysia in 2023 to assist investigations. Jho Low, who helped set up 1MDB and is linked to offshore bank accounts and shell companies receiving the stolen funds, is now a fugitive.
