Shocking punishment: Ex-Goldman banker after 1MDB scandal only 2 years!
Shocking punishment: Ex-Goldman banker after 1MDB scandal only 2 years!
Malaysia - Tim Leissner, the former Goldman Sachs banker, was sentenced to two years in prison on Thursday. This decision by the Brooklyn Federal Court is related to the 1MDB scandal, one of the greatest corruption cases in the history of Malaysia, in which an estimated $ 4.5 billion was misappropriated. Malaysia’s Commodities Minister Johari Abdul Ghani described the punishment as too mild and called for a harder punishment for Leissner, who is considered “one of the masterminds” of the plan. Judge Margo Brodie described Leissner's behavior as "brazen and bold", while he was emotionally apologized for his actions.
Leissner, German origin and former chairman of Goldman Sachs in Southeast Asia, had already confessed bribery and money laundering in 2018. He admitted that he paid about $ 2 billion in bribes to foreign officials as part of the 1MDB scandal and distributed $ 1 billion on kickbacks. US prosecutors had asked for a mild punishment due to his "extraordinary" support for the investigation.
background of the 1MDB scandal
The 1MDB fund, which was founded to win foreign investments for energy and infrastructure projects in Malaysia, was abused by officials and bankers. According to estimates of Malaysian and US authorities, over $ 4.5 billion of $ 6.5 billion collected by bond sales for 1MDB. These funds were used for extravagant purchases such as luxury items and the film "The Wolf of Wall Street".
The scandal had far -reaching effects and contributed to the election of the former Malaysian Prime Minister Najib Razak in 2018. Najib was later convicted of abuse of office and sentenced to 12 years in prison. Leissner was also a key finish in the trial against his former colleague Roger NG, who was sentenced to 10 years in prison in March 2023.
reactions and future steps
According to the judgment, Leissner regretted regret the negative effects on the Malaysian people, which was the "real victims" of the fraudulent plan. Although he was sentenced to a prison sentence of two years, the US Ministry of Justice has already announced that he will compete on September 15. Previously, his lawyers had applied to transfer him to the federal prison in Otisville, New York.The case also has an impact on Goldman Sachs, which recently achieved an agreement of $ 3.9 billion with the Malaysian government. This agreement concerns the role of the bank in the 1MDB scandal and includes a cash payment of $ 2.5 billion and the guarantee that Malaysia will receive at least $ 1.4 billion from assets recovered. Goldman described this agreement as an important step towards clarifying the matter.
The scandal continues to be examined worldwide and there are potential charges against Goldman Sachs in the USA. Officials have emphasized that the bank's collaboration was decisive with the investigation. Meanwhile, the alleged mastermind of the scandal, the Malaysian financier Low Taek JHO, remains fleeting.
In summary, the Leissner case shows the deep entanglements and the far-reaching consequences of the 1MDB scandal, which not only affects Malaysia, but also international financial institutions.Further information about the background provides the following articles: Al Jazera , India Today and bbc news .
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