New York – A former Goldman Sachs banker was sentenced on Thursday to two years in a federal prison for his role in a scheme of $ 4.5 billion to loot a state investment fund in Malaysia.
Tim Leissner, in his sentence in the Federal Court of Brooklyn, apologized to the people of Malaysia, whom he called the “true victims” of the scheme.
“The funds raised more than a decade ago could have profoundly benefit the nation already its citizens,” he said in a statement read in court and provided by his lawyers. “On the other hand, due to my greed, and the greed of those involved by my side, they were embezzled.”
The prosecutors said that Leissner and other bankers of Goldman Sachs helped the Malaysian investment fund. known as 1MBDor the 1Malaysia Development Berhad State Fund, raises $ 6.5 billion through bond sales.
But they say that more than $ 4.5 billion of the funds were stolen and washed through bribes and bribes.
The ankle boots financed extravagant purchases, of wild parties to luxurious expenses in jewelry, art, a super root and luxury real estate, prosecutors said. They also helped finance the Martin Scorsese 2013 “The Wolf of Wall Street” movie, starring Leonardo DiCaprio.
The scandal led to the fall of the government of the Prime Minister of Malaysia, Najib Razak, in 2018. Najib was later condemned by a Malaysian court of abuse of power and other crimes related to the scandal and sentenced to 12 years in prison.
“What we did was unequivocally badly, and I assume all the responsibility of my role,” Leissner said Thursday. “I deeply regret my actions, and if I could go back, I would undoubted them without hesitation.”
Leissner declared himself guilty in 2018 to bribe government officials in Malaysia and Abu Dhabi.
He served as a key government witness at the Roger NG trial, a former Goldman Sachs banker who was condemned in 2023 10 years in federal prison.
NG’s lawyers described the 1MDB looting as “perhaps the greatest robbery in the history of the world”, but kept prosecutors to school goat. The leisssner of greater rank.
Prosecutors declined to comment on Thursday’s judgment. They had not sought a specific prison term in presentations before the sentence, while Leissner’s lawyers had sought a time sentence already fulfilled.
Leissner must inform the prison on September 15 and his lawyers have requested that they send it to the Federal Prison in Otisville, New York, according to prosecutors.
Henry Mazurek, a Leissner lawyer, said his client is prepared to comply with his sentence. It includes two years of supervised release after prison and confiscation for a total of $ 43.7 million, which has already been paid.
“Mr. Leissner cooperated not only to obtain clemency in the sentence, but to show his true remorse for his actions and tell the complete story of 1MDB and Goldman Sachs,” Mazurek said in an email. “He did that and will continue telling everyone who will listen to the poisonous culture in Goldman that inspired the 1mdb scheme.”
