Former Goldman Sachs Banker Tim Leissner Sentenced to Two Years in 1MDB Scandal

Tim Leissner, a former top executive at Goldman Sachs, was sentenced to two years in prison by a U.S. federal judge on Thursday for his role in the sprawling 1MDB corruption scandal that rocked global finance and Malaysian politics.

Leissner, 55, had pleaded guilty in 2018 to conspiracy charges linked to the misappropriation of billions of dollars from Malaysia’s state investment fund, 1Malaysia Development Berhad (1MDB). At the time of the crimes, he served as Goldman’s Southeast Asia chairman and was instrumental in orchestrating the bank’s role in raising $6.5 billion in bonds for 1MDB.

U.S. District Judge Margo Brodie called Leissner’s actions “brazen and audacious,” noting that his extensive cooperation with prosecutors did not fully mitigate the harm done. “This was corruption at the highest levels, across multiple countries,” she remarked during sentencing in a Brooklyn courtroom.

With emotion evident in his voice, Leissner addressed the court and the people of Malaysia: “First and foremost, I offer my sincere apology to the people of Malaysia. I deeply regret my actions.”

The 1MDB fund, established by former Malaysian Prime Minister Najib Razak and linked to fugitive financier Jho Low, was intended to spur national development. Instead, investigators say $4.5 billion was siphoned off through an elaborate web of shell companies and offshore accounts, with some of the money used to finance luxury real estate, art, and even Hollywood films.

Leissner admitted to participating in the conspiracy to violate the Foreign Corrupt Practices Act and to laundering money. In exchange for his testimony against former colleague Roger Ng and others, prosecutors allowed Leissner to remain free on bail. They also recommended a sentence below federal guidelines in recognition of his cooperation, which included multiple debriefings and the review of voluminous records.

Despite his cooperation, the fallout for Leissner was severe. “I lost my freedom, my family, and my financial independence,” he told the court, adding that his physical and mental health deteriorated significantly in the aftermath.

Goldman Sachs, which distanced itself from Leissner during the proceedings, sent a letter to the court in May 2025 stating that Leissner had deceived his colleagues for years. The bank ultimately paid nearly $3 billion in penalties in 2020—the largest U.S. fine ever paid by a financial institution over foreign bribery charges—and its Malaysian subsidiary pleaded guilty in U.S. court. Goldman also clawed back $174 million in executive compensation.

Leissner’s sentencing comes amid ongoing legal consequences for others involved in the scandal. Roger Ng, the former head of investment banking for Goldman in Malaysia, was convicted and sentenced to 10 years in prison. He was transferred to Malaysia in 2023 to assist with local investigations. Meanwhile, Najib Razak remains imprisoned after Malaysia’s top court upheld his conviction in 2022, although his sentence was later reduced from 12 to 6 years by a royal pardons board.

Jho Low, believed to be the central figure behind the scheme, remains a fugitive and continues to elude authorities despite international efforts to track him down.

The 1MDB scandal continues to reverberate across financial and political spheres worldwide, marking one of the most significant global corruption cases in recent memory.