Goldman Sachs banker cooperates in 1MDB probe
The German national and Los Angeles resident Tim Leissner has agreed to cooperate with US prosecutors investigating the $4.5 billion 1MDB scheme in Malaysia. Leissner was picked up by authorities outside his home in Austria after he’d been sacked by Goldman Sachs in 2016 because of his close association with the scheme’s alleged mastermind, Jho Low – a Malaysian who is on the run and whose passport has been cancelled.
Leissner, who in 2014 secretly married Kimora Lee Simmons, the ex-wife of hip-hop magnate Russell Simmons, has a reputation for hard partying and huge deals, once earning Goldman Sachs $600 million in fees via $6.5 billion in bond deals from 1MDB – fees that the Malaysian government could target as it seeks to recoup losses from the scandal.
The international investigation into 1MDB ramped up after the ouster of former Prime Minister Najib Razak in a surprise electoral upset by former and current Prime Minister Mahathir Mohamad.