Former Goldman Sachs banker Timothy Leissner, who played an important role in the 1Malaysia Development Berhad (1MDB) scandal, was sentenced to 2 years in prison by a US judge on the 29th.
According to AFP, a spokesperson for the US Department of Justice stated that Timothy Leissner will begin serving his sentence in September. He was a chief architect in the massive bribery and kickback scheme involving Malaysia's sovereign wealth fund, with a prison term of 24 months.
Leissner had previously pleaded guilty in the US to charges of bribery and money laundering, facing a maximum sentence of 25 years.
The 1MDB scandal involves billions of dollars initially intended for energy and infrastructure projects but instead misappropriated or used to purchase yachts, jewelry, and other luxury items.
Goldman Sachs stated in documents submitted to the court that this case is "the only criminal case against the company in its 156-year history" and supports imposing a severe penalty.
However, the prosecution advocated for a lenient sentence, citing Leissner's “extraordinary” cooperation since June 2018.
The Department of Justice mentioned “marathon” meetings with Leissner in government briefings, during which he handed over electronic devices, “demonstrating an extraordinary memory and accurately narrating what he knew about the scheme,” which included lying multiple times to colleagues at Goldman Sachs about his actions.
In a trial in New York in February 2022, Leissner testified against another former Goldman Sachs banker, Roger Ng. The Department of Justice stated that Roger Ng was sentenced to 10 years in prison but has yet to start serving it.
Leissner also provided details that led to charges against Malaysian financier Jho Low by the United States.
Jho Low remains at large.
In a letter to the court, the 55-year-old Leissner described his crimes as “horrific” and expressed regret over losing time with his children and aging parents.
Leissner said: “I must publicly face the fact that I helped steal billions of dollars, not just from individuals, but from an entire country.”
However, Goldman Sachs was unimpressed with Leissner's cooperation, stating, “Whatever personal and professional consequences Mr. Leissner has suffered in recent years are the natural and direct results of his reckless and heedless criminal acts, not his cooperation.”