1MDB Scandal: Ex-Goldman Sachs Banker Sentenced
- Tim Leissner, a former Goldman Sachs banker, received a two-year prison sentence Thursday for his involvement in the massive 1MDB scandal, which siphoned $4.5 billion from a Malaysian...
- Leissner addressed the court, expressing remorse and apologizing to the Malaysian people.He acknowledged that the funds, raised over a decade ago, could have greatly benefited the nation.
- Prosecutors successfully argued that Leissner and other Goldman Sachs figures played a key role in helping the 1Malaysia Development Berhad (1MDB) raise $6.5 billion through bond sales.However, over...
Tim Leissner, ex-Goldman Sachs banker, has been sentenced to two years in prison for his pivotal role in the 1MDB scandal, a colossal financial heist that pilfered billions from a Malaysian state fund. The court heard Leissner’s remorseful apology to Malaysia, acknowledging the devastating impact of the embezzlement that fueled lavish spending and even financed a Hollywood film. Leissner’s sentencing underscores the severity of the 1MDB corruption, wich also led to the downfall of Malaysia’s government and saw former Prime Minister Najib Razak convicted. news Directory 3 provides detailed coverage of this and other breaking stories. Discover what’s next in the ongoing fallout…
Ex-Goldman Banker Sentenced in 1MDB Scandal
Updated May 29, 2025
Tim Leissner, a former Goldman Sachs banker, received a two-year prison sentence Thursday for his involvement in the massive 1MDB scandal, which siphoned $4.5 billion from a Malaysian state investment fund. The sentencing took place in Brooklyn federal court.
Leissner addressed the court, expressing remorse and apologizing to the Malaysian people.He acknowledged that the funds, raised over a decade ago, could have greatly benefited the nation. Instead, he said, his greed and the greed of others led to their misappropriation.
Prosecutors successfully argued that Leissner and other Goldman Sachs figures played a key role in helping the 1Malaysia Development Berhad (1MDB) raise $6.5 billion through bond sales.However, over $4.5 billion was then allegedly stolen and laundered through bribes and kickbacks.
The stolen funds financed extravagant spending, including lavish parties, jewelry, art, a superyacht, and luxury real estate. They even helped finance Martin Scorsese’s 2013 film “The Wolf of Wall Street.” the 1MDB scandal and the resulting money laundering became a symbol of corruption and greed.
The scandal triggered the downfall of Malaysian Prime minister Najib Razak’s government in 2018. Razak was later convicted in Malaysia on charges including abuse of power and sentenced to 12 years in prison.
“What we did was unequivocally wrong, and I take full responsibility for my role,” Leissner said. “I deeply regret my actions, and if I could turn back time, I would undo them without hesitation.”
Leissner had previously pleaded guilty in 2018 to bribing officials in Malaysia and Abu Dhabi. He also served as a key witness in the trial of Roger Ng,another former Goldman Sachs banker,who received a 10-year sentence in 2023 for his role in the scheme.
Ng’s defence team characterized the 1MDB looting as possibly the largest heist in history.They argued that Ng was unfairly targeted for crimes committed by others, including Leissner.
Leissner is scheduled to report to prison on Sept. 15. His sentence also includes two years of supervised release and a forfeiture of $43.7 million, which he has already paid.
Henry Mazurek, Leissner’s lawyer, stated that his client cooperated to demonstrate remorse and provide a full account of the 1MDB scheme and Goldman Sachs’ involvement. He added that Leissner will continue to speak about the “poisonous culture at Goldman” that fueled the scandal.
What’s next
Leissner will begin his prison sentence in September, while the fallout from the 1MDB scandal continues to reverberate through financial and political circles.