Goldman Accuses 1MDB Banker of ‘Serial Lies’ Ahead of Sentencing
- Goldman Sachs accused former Southeast Asia chairman Tim Leissner of serial lies ahead of his sentencing for crimes linked to Malaysia's 1MDB scandal.
- The 1MDB scandal involved the misappropriation of over $4.5 billion from Malaysia's state fund through complex fraud and shell companies orchestrated by fugitive financier Jho Low.
- Leissner pleaded guilty in 2018, admitted pocketing millions, cooperated with US authorities, and his testimony was central to convicting Goldman colleagues and imposing a $2.9 billion fine on the bank.
- Goldman Sachs stated Leissner never took responsibility and engaged in deception, while his lawyer condemned the bank's letter as astounding and highlighted Leissner's years of criminal evasion tactics.
- Leissner faces up to 25 years in prison, with additional investigations ongoing and Malaysia requesting his extradition, underscoring challenges in holding key figures accountable in the global 1MDB case.
12 Articles
12 Articles
Goldman Accuses 1MDB Banker of ‘Serial Lies’ Ahead of Sentencing
Goldman Sachs Group Inc. said the banker at the heart of a scandal linked to Malaysia’s 1MDB investment fund engaged in “serial lies” and deception about the fraud, days before he is scheduled to be sentenced.
Edmond de Rothschild Bank was convicted Thursday of money laundering and had 25 million euros confiscated by a Luxembourg court, in one of the many ramifications of the vast scandal linked to the Malaysian sovereign wealth fund 1MDB.
The bank was found guilty of money laundering and concealment in case 1MDB, which involved a fraudulent misappropriation of several billion US dollars to the Malaysian sovereign wealth fund in the early 2010s.
This is a first in the Grand Duchy. The Luxembourg bank Edmond de Rotschild (Europe) S.A. was sentenced for money laundering and concealment by the 7th Correctional Chamber of the District Court of Luxembourg, announced this Thursday the judicial administration. The bank was sentenced to a penalty of confiscation of 25,000,000 euros, previously seized in the bank's assets. These funds ...
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