Former Goldman Sachs Banker Tim Leissner Sentenced to Two Years for 1MDB Scandal
Tim Leissner, a former Goldman Sachs banker, was sentenced to two years in prison on Thursday for his role in the infamous 1Malaysia Development Berhad (1MDB) corruption scandal. The sentencing, administered by U.S. District Judge Margo Brodie in New York, has drawn criticism from Malaysian officials. Johari Abdul Ghani, Malaysia’s Commodities Minister, labeled the sentence "too lenient," arguing that Leissner, described by Ghani as "one of the masterminds" behind the scheme, deserved the maximum 25-year term.
Leissner, who previously pleaded guilty to U.S. bribery and money laundering charges, expressed deep regret during the hearing, apologizing to the people of Malaysia for his actions. The 1MDB fund, initially established to attract foreign investment for Malaysian infrastructure projects, was systematically looted, leading to losses estimated at around $4.5 billion. The scandal implicated numerous high-profile figures, including former Malaysian Prime Minister Najib Razak, who was sentenced to imprisonment in 2022.
Despite facing a maximum sentence, U.S. prosecutors advocated for leniency due to Leissner’s significant cooperation with the investigation. He served as a key witness in the trial of his former colleague, Roger Ng, who was sentenced to ten years in prison for his role in laundering funds and bribery associated with 1MDB.
Leissner’s testimony has also shed light on the involvement of Jho Low, the Malaysian financier accused of orchestrating the 1MDB scheme and who remains at large. Leissner is set to begin his two-year sentence in September, representing a chapter of a scandal that continues to reverberate across international financial and political landscapes.
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