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Roula Khalf, Editor of the FT, Selects Her Favourite Stories in this Weekly NewsTETTER.
Tim Leissner, The Disrid-Dollar 1MDB SCANDAL, Has Been Senteded to Two Years in Prison, Ending One of the Most Infamous Prosecctions in Wall Street’s History.
Leissner, Who Face Up to 25 years in Prison, Told Judge Marga Brodie of Brooklyn Federal Court that He Stood Before Her “in Shame”, Admitting that What He Had Done Was “Vry Wrong”.
Wearing A Dark Suit, The Ex-Banker Apologised “To the People of Malaysia, Who Are the Real Victims”, adding that if I “I could turn back time I will”. Leissner Said He Had “Pretty Much Lost Everyth”, Including His Career, Freedom, Family and Financial Independence. One of Leissner’s Daughters and his Parents before in the Courtroom.
“I Lost My Will to Live,” Leissner Said. “I tryed to take as many pills as I cou it to end it.. It was absolute rock Bottom.”
Judge BRODIE SAID SONE OF LESSANER’s Colleagues “Were Aware of What You WEREG and SIMPLY LOOCNER ATHER WAY WAY BECEUUSE AIORYONE WAS Getting Rich”. She descripod
Leissner’s Sentence Marks a Milestone in Us Law Enforcement’s Investigation In THE 1MDB Affair, in Which Goldman Banks Helubet Corrupt Malaysian Officials Misappprising About $ 4.5BN from its soovereign Wealth Fund, According to Prosecutors. Leissner please guilty every in the Investitation and Agreed to Co-Octate With Prosecutors, Testifying in the Trial of One of HIS Former Colleges, Roger NG.
It is the proved Critical in Security Leissner A More Lenient Sentence, Despite His Vital Role in the Embezzlement Scheme.
Goldman Admitted Paying More Than $ 1BN in Bribes to Obtain Underriting Work and Paid Nearly $ 3BN in Criminal Fines Under A Resolution With The Us Department of Justice, in A Saga that Spanned Malaysia, The Middle East, Switzerland and The Us, English-Flying Financies and politicians Alike. The case also leed to the prosection of malesia’s prime minister at the time, Najib Razak, who was ConvCted and Ultimately Senteded to Six Years in Prison.
Ng was sentenced to 10 years in Prison in 2023 after a new york Jury Found Him Guilty of Bribery and Money Laundering. Razak, who helped Found 1MDB, is fighting his prison sentence in kalala lumpur. Another Central Figure, Malaysian Financier Jho Low, Was Charmed by Us Authorites. He Remains at Large and MainTains His Innocence.
Leissner is Due to Start His Prison Time on September 15. The Judge Did Not Impose a Fine. Leissner has been on bial for the past seven years, with restrictions on his abilate to track, and was wearing and ankle monitor for some of that time, his lawyer, henry mazurek, said.
He Arguid His Client Had Undergone a “Trendous Transformation” in a bid to “regain The Soul that He had Lost”.
Leissner “Whats The Opportunity to Right The Wrongs He Has Committed”, added mazurek, who asked for his Client to avoid time in Prison.
The Justice Department Did Not Recomment A Sense. Prosecutor Drew Rolle Descrabed the Scandal As “The Biggest Financial Crime in World History”, but said leisSner’s Co-Wense Ras Critical to the Investival and Charges Against Ng and Low.
Leissner Previously Testified How He Stereed Goldman’s Arrangement of Three 1MDB Bond Deals in 2012 and 2013, Whiche Raised About $ 6.5BN BEFORE The Ex-Banker Helped Siphon More Than $ 2.7BN From the maalasian fun.
He Told the Court that He Special For the Stallen 1MDB ProCEEDS, About $ 60Mn, on a 170ft Yach and Real Estate in New York and London as well as investments in iTalian Football Team Inter Milan.
The Bank’s General Counsel Kathryn Ruemler Wrote to the Judge This Month to Say Leissner “Extensively Lied to and Deceied Many People” at the Wall Street Group and “Has Still Not Repaid One Penny ”of a $ 20.7MN Arbitration Award that a court in 2023 said he Owes Goldman.
Rolle SAID In COURT That The Bank’s Letter Was “True ExtraordINARY” and Came from An “Institute Continuing to Resist Responsibility for Its Central Role” in the Scandal. “It’s Sort of Like a Getaway Driver Showing Up at a Coperrator’s Sentencing,” He Said.
