Ex-Goldman banker Tim Leissner sentenced to 2 years in prison in 1MDB scandal
Former Goldman Sachs banker Tim Leissner was sentenced to two years in prison by a judge in a New York court on Thursday after he pleaded guilty in 2018 for his involvement in a multi-billion dollar scandal involving Malaysia's sovereign fund 1MDB.
Leissner's conduct was 'brazen and audacious,' Judge Margo Brodie said during the sentencing. While his cooperation with the government was taken into account, it did not make up for the harm caused by the scandal.
Tim Leissner in court on Thursday. The ex-Goldman banker received a two-year prison sentence.
AFP via Getty Images
'First and foremost, I offer my sincere apology to the people of Malaysia,' Leissner, 55, told the hearing, his voice breaking as he read a statement. 'I deeply regret my actions.'
This is a developing story. Please check back for updates.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Forbes
39 minutes ago
- Forbes
More Musk-Trump Fallout: Tesla Sales Will Shrink At Historic Pace, Goldman Says
A pessimistic prediction for Tesla sales from Goldman Sachs added further fuel to the Tesla fire, as the unraveling relationship between Tesla CEO Elon Musk and his former close ally President Donald Trump plays out publicly, accelerating Wall Street's concerns about the increasing exposure of Tesla to Musk's outspoken politics. Elon Musk has alienated 'multiple sides of the political spectrum' from Tesla, according to one ... More prominent Wall Street analyst. In a late Thursday note to clients, Goldman Sachs analysts led by Mark Delaney slashed their forecast for second-quarter Tesla vehicle deliveries to 365,000, far below consensus analyst forecasts of 405,000, according to FactSet. That would be an 18% decline from the same period last year, equating to by far the weakest quarterly deliveries growth since at least 2015, the extent of quarterly delivery data available on Tesla's investor relations website. It's another knock for Tesla as analysts warn this week's quarrel between Musk and the president, who Musk donated $288 million last year to help elect alongside other Republican candidates, could further weigh on Tesla, which is already grappling with declining brand sentiment on the left, historically the base for EV purchasers. This disagreement 'could potentially (temporarily) alienate multiple sides of the political spectrum," warned Morgan Stanley analyst Adam Jonas in a Friday note. Tesla stock bounced back Friday, gaining 6% by early afternoon as part of a broader rally. That only recovered a small portion of Thursday's historic loss, as the Musk-led firm's share price is down 9% since Wednesday. The Musk-Trump division "clearly raises the degree of [near-term' uncertainty' for Tesla, according to TD Cowen analyst Itay Michaeli. Amid the kerfuffle, Trump threatened to cancel all of the federal government's contracts with Musk's portfolio of companies. That would likely impact the private aerospace and communications firm SpaceX far more than Tesla, which does not rely on government contracts for a significant portion of its revenues, but there is a way Trump could target Tesla's bottom line directly. Trump could restrict Tesla's ability to sell its automotive regulatory credits, according to Morningstar strategist Seth Goldstein, referring to the essentially free profit Tesla gets from selling its emissions credits to gas-powered automakers. That could dramatically reduce Tesla profits, as it reported $595 million in those regulatory credits compared to a $934 million net income during 2025's first quarter, meaning the credits directly contributed about two-thirds of its net profit. Since Musk announced his purchase of Twitter (now X) in 2022, Tesla stock has frequently faced downward pressure as its top decisionmaker and shareholder Musk became increasingly outspoken on politics to much controversy. Musk endorsed Trump in July and rose to become perhaps the most prominent and powerful figure in the early days of Trump's second administration, though the perceived impact of Musk's buddying up to Trump turned negative this year as sales globally for the automaker tumbled. In a further sign of fray in the relationship between Musk and Trump, the president has decided to sell his Tesla Model S, according to the New York Times. Tesla is expected to report its Q2 delivery numbers July 2.
Los Angeles Times
2 hours ago
- Los Angeles Times
Pope meets with child protection advisory board as survivors call for zero tolerance of abuse
VATICAN CITY — Pope Leo XIV met with members of the Vatican's child protection advisory commission on Thursday for the first time amid questions about his past handling of clergy sex abuse cases and demands from survivors that he enact a true policy of zero tolerance for abuse across the Catholic Church. The Pontifical Commission for the Protection of Minors, which is made up of religious and lay experts in fighting abuse as well as supporting survivors, called the hourlong audience a 'significant moment of reflection, dialogue, and renewal of the church's unwavering commitment to the safeguarding of children and vulnerable people.' The group said it updated history's first American pope on its activities, including an initiative to help church communities in poorer parts of the world prevent abuse and care for victims. The Vatican did not provide the text of Leo's remarks or make the audio of the audience available to reporters. Pope Francis created the commission early on in his pontificate to advise the church on best practices and placed a trusted official, Boston's then-archbishop, Cardinal Sean O'Malley, in charge. But as the abuse scandal spread globally during Francis' 12-year pontificate, the commission lost its influence its crowning recommendation — the creation of a tribunal to judge bishops who covered up for predator priests — went nowhere. After many years of reform and new members, it has become a place where victims can go to be heard and bishops can get advice on crafting guidelines to fight abuse. O'Malley turned 80 last year and retired as archbishop of Boston, but he remains president of the commission and headed the delegation meeting with Leo in the Apostolic Palace. It has often fallen to O'Malley to speak out on egregious cases that have arrived at the Vatican, including one that remains on Leo's desk: The fate of the ex-Jesuit artist, the Rev. Marko Rupnik, who has been accused by two dozen women of sexual, psychological and spiritual abuse over decades. After coming under criticism that a fellow Jesuit had apparently received preferential treatment, Francis in 2023 ordered the Vatican to waive the statute of limitations on the case and prosecute him canonically. But as recently as March, the Vatican still hadn't found judges to open the trial. Meanwhile, the victims are still waiting for justice and Rupnik continues to minister, with his supporters defending him and denouncing a 'media lynching' campaign against him. Leo, the Chicago-born former Cardinal Robert Prevost, has been credited by victims of helping to dismantle an abusive Catholic movement in Peru, where he served as bishop for many years. But other survivors have asked him to account for other cases while he was a superior in the Augustinian religious order, bishop in Peru and head of the Vatican's bishops' office. The main U.S. survivor group, SNAP, has also called for Leo to adopt the U.S. policy calling for any priest who has been credibly accused of abuse to be permanently removed from ministry. Winfield writes for the Associated Press.
Yahoo
2 hours ago
- Yahoo
Former superintendent indicted in AI child porn case involving teacher: Records
MEMPHIS, Tenn. — Former Corinth School District superintendent Edward Childress has been indicted in connection with an investigation into an ex-middle school teacher accused of creating AI porn using students' images. The arrest of former Corinth teacher Wilson Frederick Jones led to the termination of Childress' contract as superintendent of Corinth schools. He has now been indicted on state and federal charges in connection with the investigation. WREG has followed this story since Jones' arrest. Jones is accused of using Artificial Intelligence to morph pictures of several students in his class, turning them into explicit material. Parent concerned over ex-MS teacher accused of AI porn videos of students According to reports, the content was created on his school-issued computer in November 2024. Jones's activity triggered a program with the school system that scans for illicit content being downloaded or shared. Court documents show that Childress knew about the explicit material in November, but did not notify the Mississippi Department of Education until January. The evidence was seized on Mar. 3, and Jones was arrested on Mar. 12. The indictment states that Childress concealed the acts by permitting Jones to resign his position as a teacher at the Corinth School District and misrepresented the reason behind Jones's resignation to the school board. None of the students involved, between the ages of 14 and 16, were aware of what Jones was allegedly doing. Parents expressed their concerns following the arrest, knowing that Superintendent Childress was aware of the illicit content, but did not report it until months later. Parent concerned over ex-MS teacher accused of AI porn videos of students 'We need to know. We need to know what's going on at our schools and with our children, and not only our own but anybody else's children,' said Jasmica Wade. Childress was subsequently fired. Jones and Childress have each been indicted on three counts. Jones is also facing charges of production and possession of a morphed image of child pornography at the state level. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
