Leissner Tim (Tim Leissner)

Leissner Tim (Tim Leissner)

Biography

2025: Sentence - 2 years in prison in $700 million bribe case against Malaysian Prime Minister

On May 29, 2025, a New York court sentenced Tim Leissner, a former senior employee of the American investment bank Goldman Sachs. He received two years in prison for his part in the multi-billion dollar corruption scheme of Malaysian sovereign wealth fund 1MDB.

The case file says Leissner and other Goldman Sachs bankers helped the fund 1MDB (1Malaysia Development Berhad) raise $6.5 billion by selling bonds. However, as the authorities calculated Malaysia and, USA more than $4.5 billion of these funds were stolen as part of a complex scheme that covered the whole world and in which senior officials of the fund were involved, former Malaysian Prime Minister Najib Razak, Goldman Sachs executives and others. In particular, $700 million was found in Razak's personal accounts. Some of the funds were transferred to offshore bank accounts and shell companies.

Leissner, the former chairman of Goldman Sachs in Southeast Asia, pleaded guilty in 2018 to conspiracy to violate the Foreign Corrupt Practices Act and conspiracy to commit money laundering. During his sentencing in Brooklyn federal court, he apologized to the people of Malaysia.

Funds raised more than a decade ago could have greatly benefited the country and its citizens. Instead, because of my greed and the greed of those involved in the scheme, that money ended up being misappropriated, "Leissner said.

The scandal that erupted led to the fall of the Razak government in 2018. The former Malaysian prime minister was later found guilty of abuse of power and other bribery offences and sentenced to 12 years in prison.^[1]

Notes