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.
WASHINGTON: Former Goldman Sachs Group Inc bankers Tim Leissner and Roger Ng were banned from the industry by the US Federal Reserve for their role in helping divert billions of dollars from the Malaysian state fund 1MDB.
Leissner and Ng coordinated bond offerings that allowed funds to be stolen from 1MDB, the Fed said in a Tuesday statement. Some of the money was used to bribe government officials in Malaysia and Abu Dhabi, and criminals also used proceeds to pay for lavish lifestyles, according to regulator.
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