JAKARTA – A court in New York, United States (US), sentenced Tim Leissner, former Southeast Asia banker at Goldman Sachs, to two years in prison on Thursday (29/5).

Leissner was involved in a financial scandal that resulted in billions of dollars in losses for 1Malaysia Development Berhad (1MDB).

Quoting The Straits Times on Friday (30/5), authorities in Malaysia and the US estimated that the losses suffered by 1MDB totalled USD 4.5 billion, involving several Malaysian state officials, including former Prime Minister Najib Razak.

Leissner, who at the time served as the head of Goldman Sachs Southeast Asia, pleaded guilty to conspiracy to launder money in 2018 and was found to have violated the Foreign Corrupt Practices Act.

US District Judge Margie Brodie described Leissner's actions as disgraceful and brazen when delivering the prison sentence.

According to her, although Leissner had cooperated with the authorities, it did not lessen the financial harm caused by his behaviour.

On the other hand, Tim Leissner issued an apology to the Malaysian people for the damage caused by his fraudulent financial conduct. “I regret my actions,” he said.

As is known, Goldman Sachs helped sell USD 6.5 billion in bonds for 1MDB, which was established by Prime Minister Najib Razak, with assistance from Jho Low. A portion of the funds raised was diverted to offshore bank accounts and shell companies linked to Jho Low, a Malaysian financier.

When arrested in 2018, Leissner became a key witness for the US government in the case. Jho Low, meanwhile, remains a fugitive. (LK/KR/ZH)