Gold­man Sachs banker co­op­er­ates in 1MDB probe

Southeast Asia Globe - - Banking -

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.

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