The former Goldman Sachs Leissner sentenced to two years for the 1mdb scandal. The « theft » of 4.5 billion and the investment in Inter
The American banker was among the architects of the subtraction of 4.5 billion at the Malaysian sovereign fund. With the 60 million reward, he bought yachts, real estate and a share of the Nerazzurri club
The former Goldman Sachs top banker, Tim Leissner, was sentenced to two years in prison in the United States for participating and designed what the accusation called « the largest financial crime in the history of the world ». In fact, Leissner was among the minds of the so -called « 1mdb scandal », that is, the subtraction of 4.5 billion dollars from the sovereign fund of Malaysia.
The role of Goldman Sachs
The facts date back to the period between 2009 and 2014 and involved the Malaysian Prime Minister of the time, Najib Razak, and several exponents of high global finance in a scheme to move billions of dollars from the 1mdb public background to private accounts. For his role in the Goldman Sachs affair, he paid a fine of $ 2.9 billion to the American Justice Department, admitting that he had paid bribes for a billion in order to obtain the task of taking care of the issue of bonds of the 1mdb fund and the enormous commissions associated with it.
The other convictions
The scandal cost a conviction for life to the ex premier Razak in Malaysia, while the other banker of Goldman Sachs, Roger, NG, is serving 10 years in prison in the United States. The Malaysian financier John Low, another central figure, is on trial in the USA but is still fugitive. Leissner’s confession and his collaboration with the American authorities were fundamental in reconstructing the responsibilities in the scandal and, consequently, the banker obtained a slight condemnation in spite of his crucial role in the matter.
Investments in yacht and Inter
Faced with the ministries, Leissner reconstructed how between 2012 and 2013 he managed to divert 2.7 billion dollars from the 1mdb fund to private accounts, taking advantage of the emission of three 6.5 billion bonds. And he also admitted that he has personally collected over 60 million dollars of « commissions » for his work. Leissner said he had reused the proceeds of the « largest financial crime in history » to buy prestigious properties in London and New York, a yacht of over 20 meters and a minority share in Inter, the Milanese football club (apparently to understand at the time when the property was of the indoesian Erick Thohir).
