Tim Leissner

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Tim Leissner
Born (1971-10-31) October 31, 1971 (age 52)
NationalityAmerican
OccupationInvestment banker
Known for1MDB Fraud
TitleChairman of Southeast Asia and Managing Director of Goldman Sachs
SpouseKimora Lee Simmons
Children2

Tim Leissner (born October 31, 1971) is a German-born investment banker with a successful career spanning over multiple decades including a role as a former managing director at Goldman Sachs and chairman of the bank's Southeast Asia division. Prior to Goldman Sachs, Leissner held a position at J.P. Morgan and built a reputation for his expertise and deal making abilities. His work in the financial sector took him around the world with various clients including Southeast Asia.

[1] Goldman Sachs helped orchestrate the 1Malaysia Development Berhad scandal, one of the biggest financial scandals in history, in which billions of dollars were stolen. Leissner was one of the Goldman Sachs employees working on the deal. Leissner was arrested in June 2018 related to this scandal and has since worked with the government as a cooperating witness.

In 2018 Leissner pled guilty to charges relating to the Malaysian sovereign wealth fund 1 Malaysia Development Berhad (1MDB) and that he broke the Foreign Corrupt Practices Act (FCPA) by paying bribes to corrupt Malaysian and Emirati offices to get Goldman Sachs business.[2][3]

Leissner was banned for life by the Securities and Exchange Commission and forced to pay a $43 million fine. He testified against his former deputy Roger Ng in a 2022 trial where Roger NG was found Guitly in a Jury trial.[4][5]

Leissner is portrayed in the book Billion Dollar Whale: The Man Who Fooled Wall Street, Hollywood, and the World by Tom Wright and Bradley Hope of The Wall Street Journal, which focuses on Jho Low, the purported mastermind behind the 1MDB scheme. The book was published in September 2018.

Career

See also: 1Malaysia Development Berhad scandal

Leissner was employed by Goldman Sachs from 1998 to 2016.[1] He retired in January 2016 after an internal review found he sent a fake letter to Banque Havilland on behalf of Jho Low.

In 2022, Bloomberg called Leissner "Goldman's most notorious banker."[6]

Goldman paid a record fine (over $5 billion) to the Malaysian and U.S. authorities due to the firms involvement.[7][8]

Personal life

In 2014, Leissner married Kimora Lee Simmons. They have one child together, a son, born in 2015.[9][10][11] In February 2022, it was revealed that Leissner and Simmons were estranged from each other, and had been for a long time.


References

  1. ^ a b "SEC.gov | SEC Charges Former Goldman Sachs Executive With FCPA Violations". www.sec.gov. Retrieved 2021-05-17.
  2. ^ Crow, David (December 2018). "Tim Leissner: Goldman Sachs banker at the heart of 1MDB scandal". Financial Times.
  3. ^ Goldstein, Matthew (2019-12-16). "Ex-Goldman Sachs Partner Barred by S.E.C. Over 1MDB Scandal". The New York Times. ISSN 0362-4331. Retrieved 2021-05-17.
  4. ^ Hale, Kori. "Goldman Sachs Takes A $1 Billion Hit Due To Ex-Hip Hop Banker". Forbes. Retrieved 2021-05-17.
  5. ^ Hale, Kori. "Goldman Sachs Pays $3.1 Billion In 1MDB Scandal, Leaves Ex-Hip Hop Banker Behind". Forbes. Retrieved 2021-05-17.
  6. ^ Hurtado, Patricia (February 14, 2022). "Goldman's Most Notorious Banker Turns Star Witness in 1MDB Trial". Bloomberg.
  7. ^ Goldstein, Matthew (2020-10-20). "Goldman Sachs Is Said to Admit Mistakes in 1MDB Scandal". The New York Times. ISSN 0362-4331. Retrieved 2021-05-17.
  8. ^ Goldstein, Matthew; Flitter, Emily; Kelly, Kate (2019-01-16). "Goldman Sachs's Tactic in Malaysian Fraud Case: Smear an Ex-Partner". The New York Times. ISSN 0362-4331. Retrieved 2021-05-17.
  9. ^ "Kimora Lee Simmons has married Tim Leissner, Russell Simmons says". Los Angeles Times. February 20, 2014. Retrieved November 30, 2019.
  10. ^ "Kimora Lee Simmons Welcomes Son Wolfe". people.com. Retrieved 2016-02-21.
  11. ^ Crow, David; Noonan, Laura (December 23, 2018). "Tim Leissner: Goldman Sachs banker at the heart of 1MDB scandal". Financial Times.
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