A former Goldman Sachs banker central to the infamous 1MDB bribery scandal has been sentenced to two years in prison by a US judge. Timothy Leissner, who previously pleaded guilty to charges including bribery and money laundering, will begin serving his 24-month sentence in September.
Leissner played a pivotal role in orchestrating a massive fraud involving Malaysia's sovereign wealth fund 1MDB, from which billions of dollars were diverted. The funds, originally intended for energy and infrastructure projects, were instead misappropriated to finance luxury assets such as yachts and jewelry.
This case marked a rare landmark, as it stands as the sole criminal case ever filed against Goldman Sachs in its 156-year history. Despite this, prosecutors requested a lenient sentence, highlighting Leissner's substantial cooperation with federal investigators. Following his arrest in June 2018, he provided extensive information, participated in numerous lengthy interviews, and surrendered electronic devices relevant to the investigation.
Leissner's testimony contributed to the conviction of fellow Goldman banker Ng Chong Hwa, who received a 10-year sentence in February 2022. Additionally, Leissner’s disclosures helped authorities pursue charges against Jho Low, a Malaysian financier linked to the scheme who remains a fugitive.
In a court letter, 55-year-old Leissner expressed deep remorse for his actions and acknowledged the personal costs, stating, "I have had to publicly face the fact that I helped steal billions of dollars not just from individuals, but from an entire nation." He also lamented lost time with his children and aging parents due to his criminal conduct.
Goldman Sachs, however, rejected the characterization of his cooperation as mitigating, emphasizing that any consequences Leissner has faced arise solely from his own criminal behavior.
