Tim Leissner is a former investment banker who gained prominence for his involvement in the 1Malaysia Development Berhad (1MDB) scandal. Born in Germany, Leissner began his career in finance and worked for several prominent banks, including Goldman Sachs.
Leissner’s involvement in the 1MDB scandal began when Goldman Sachs was hired to help raise funds for the Malaysian state investment fund, 1MDB, in 2012 and 2013. Leissner, then a managing director at Goldman Sachs, played a central role in facilitating the issuance of bonds totaling $6.5 billion. However, it was later discovered that a significant portion of the money raised was misappropriated and used for personal gain by individuals associated with 1MDB.
Leissner pleaded guilty to charges of money laundering and violating the Foreign Corrupt Practices Act (FCPA) in the United States in August 2018. He admitted to bribing officials and conspiring to launder money from the 1MDB fund. As part of his plea deal, Leissner agreed to forfeit $43.7 million. He also faced legal actions in other jurisdictions, including Malaysia, where he was issued an arrest warrant.
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Leissner’s guilty plea shed light on the extensive corruption and fraud surrounding the 1MDB scandal, which implicated several high-ranking officials and businessmen, including the former Malaysian Prime Minister, Najib Razak. The scandal led to investigations and legal actions in multiple countries, including the United States, Malaysia, and Switzerland.
Tim Leissner house: Where does Tim Leissner live?
For a time, he lived with Simmons in an $11 million mansion in Los Angeles
