On Nov 1, 2018, the US Department of Justice (DoJ) charged Leissner(filepic) with conspiracy to commit money laundering, and violate the US Foreign Corrupt Practice Act. Leissner pleaded guilty to the charges, and admitted to participating in a conspiracy to obtain and retain business from 1MDB for Goldman Sachs through the promise and payment of bribes to government officials in Abu Dhabi and Malaysia, and by embezzling funds from 1MDB for himself and others.
SINGAPORE: Singapore’s central bank has issued a lifetime prohibition order against former Goldman Sachs’ banker Tim Leissner after he admitted to charges related to an investigation into scandal-plagued 1Malaysia Development Bhd (1MDB).
The ban is an upgrade of the Monetary Authority of Singapore’s 10-year prohibition order (PO) against Leissner issued on March 13, 2017.
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