The enigmatic figure behind the Hamas organization, rumored to be Mohammad Sinwar, is reportedly the members of Israel's security forces have supposedly apprehended, according to their claims.
Malaysian Banker Tim Leissner Sentenced to Two Years for Role in 1MDB Scandal
NEW YORK - On Thursday, a New York court sentenced former Goldman Sachs banker Tim Leissner to two years in prison for his role in a multi-billion dollar scandal involving Malaysia's sovereign wealth fund, 1Malaysia Development Berhad (1MDB).
U.S. and Malaysian authorities allege that approximately $4.5 billion (RM19.3 billion today) was stolen from 1MDB in an intricate global scheme implicating high-level officials in the fund, former Malaysian Prime Minister Datuk Seri Najib Razak, Goldman executives, and others.
Leissner, who once served as Southeast Asia chairman for Goldman, pleaded guilty in 2018 to conspiring to violate the Foreign Corrupt Practices Act and participating in a money laundering conspiracy, both connected to his involvement in the 1MDB scandal.
Citing Leissner's conduct as "brazen and audacious," Judge Margo Brodie announced the sentence, noting that while his cooperation with the government was considered, it did not offset the damage caused by the corruption at the highest levels in various countries.
Addressing the court, Leissner, 55, offered his sincere apology to the people of Malaysia, expressing deep regret for his actions. Goldman Sachs, which helped sell $6.5 billion of bonds for 1MDB, has described Leissner's deceit as the sole cause of the only criminal case filed against the bank in its 156-year history.
Leissner, now a U.S. government witness, cooperated extensively with authorities, reviewing numerous documents and communications related to the 1MDB scheme and other matters. Malaysian financier Jho Low, a fugitive in the case, has been linked to offshore bank accounts and shell companies through which some funds were diverted.
Former banking colleague Roger Ng, who has pleaded not guilty to money laundering and anti-bribery charges, is scheduled to stand trial in the United States. Goldman has already paid a record $2.9 billion fine in the United States, agreed to have its Malaysian unit plead guilty in a U.S. court, and clawed back $174 million in executive compensation.
Former Prime Minister Najib Razak was found guilty in 2020 of criminal breach of trust and abuse of power for receiving misappropriated funds from a 1MDB unit. Malaysia's top court upheld Najib's guilty verdict in 2022, sentencing him to 12 years in prison. The sentence was later halved by a pardons board chaired by Malaysia's former king.
References:[1] Thomson Reuters, "Malaysia net debt doubles to RM1 trillion after 1MDB bailout," August 21, 2017.[2] Reuters, "Ex-Goldman banker Tim Leissner gets 2 years in prison over role in 1MDB scandal," May 30, 2023.[3] U.S. Department of Justice, "Former Goldman Sachs Banker Pleads Guilty to Conspiracy toviolate the Foreign Corrupt Practices Act and Money Laundering Conspiracy Charges Connected to 1Malaysia Development Berhad (1MDB) Scheme," April 3, 2018.[4] Reuters, "Goldman Sachs to pay $3.9 billion penalty to settle 1MDB investigations," March 15, 2020.[5] Reuters, "Malaysia's ex-PM Najib found guilty of criminal breach of trust and abuse of power," July 28, 2020.
- The sentence handed to Tim Leissner, a Malaysian banker, is a result of his role in the 1MDB scandal, a multi-billion dollar crime involving Malaysia's sovereign wealth fund.
- The 1MDB scandal, which occurred in Southeast Asia, involved high-level government officials and executives from Goldman Sachs, among others.
- The transportation of approximately $4.5 billion (RM19.3 billion) was stolen from 1MDB in an intricate global crime scheme that made headlines in general-news and crime-and-justice categories.
- The court's sentence for Leissner highlighted the corruption that occurred at the highest levels in various countries, impacting the health and safety of its citizens.
- Through his role in the 1MDB scandal, Leissner contributed to a police investigation and cooperated extensively with authorities, sharing documents related to the crime.
- The 1MDB scandal sparked political debates and discussions, with Malaysian financier Jho Low, a fugitive in the case, being connected to offshore bank accounts and shell companies involved in the theft.
