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Malaysian Reserve
7 days ago
- Business
- Malaysian Reserve
Goldman letter helps sway judge who sent Leissner to prison
FORMER Goldman Sachs Group Inc. banker Tim Leissner (picture) didn't think he should go to prison for his role in the looting of the Malaysian investment fund 1MDB. Neither did US prosecutors, who praised his cooperation with their investigation. But US Judge Margo Brodie in Brooklyn, New York, paid more attention to what the bank had said in a letter to the court last week, which pushed back on the calls for leniency for Leissner. She sentenced the former banker to two years in prison Thursday, saying that without Leissner, the massive fraud may never have happened. Leissner had faced as many as 25 years in prison over his involvement in the fraud that toppled the Malaysian government and led to investigations in six countries. Goldman paid more than $5 billion to settle global probes related to 1MDB, including $2.9 billion in the US in one of the largest penalties in history for a violation of US anti-bribery laws. The former banker had pleaded guilty in 2018, admitting that he helped siphon billions of dollars from 1MDB. He agreed to cooperate with prosecutors and his testimony led to the conviction of one of his former colleagues, Roger Ng, as well as the fines against Goldman. 'In the end, your cooperation does not completely make up for the harm and devastation you knowingly caused through your conduct which was completely selfish,' Brodie said. ' So some punishment is warranted.' In the letter last week, the bank said that Leissner had never taken responsibility for his actions. 'Leissner's serial lies, fraud and deception at Goldman Sachs continued from the day he first brought the transactions to the firm through the day he left,' Goldman General Counsel Kathryn Ruemmler wrote. 'Mr. Leissner's efforts in this regard are worthy of sanction, not praise.' Goldman's court filing quickly became a focus of the sentencing hearing, with prosecutor Drew Rolle calling the letter 'denigrating.' The bank's comments were 'the equivalent of a getaway driver showing up at a cooperator's sentencing and saying: 'You know judge, we wouldn't be in this mess if he hadn't decided to rob a bank,'' Rolle said. But Brodie interrupted the prosecutor, asking 'why don't you address Goldman Sachs' letter.' 'I understand you to be saying the letter from Goldman Sachs was denigrating his cooperation. But I read the letter as saying 'But for your conduct there would be no reason to cooperate.'' The bank may still get the final word on Leissner, who left without speaking to reporters. As he walked out of the courtroom, he was handed a document. When asked by reporters what the document was and who issued it, the man who gave it to Leissner said it was a subpoena from Goldman Sachs. A spokeswoman for Goldman and a lawyer for Leissner declined to comment on the subpoena. The bank said in its letter to Brodie that it continues to try to recoup $20.7 million it paid Leissner while he was working on 1MDB transactions. The bank won an award for that amount from a Finra panel in 2022, which was upheld by a federal judge in Manhattan a year later. 'Mr. Leissner has still not repaid one penny,' Ruemmler said in the letter. –BLOOMBERG
The Star
7 days ago
- Business
- The Star
Ex-Goldman banker Leissner gets two years in 1MDB fraud case
NEW YORK (Bloomberg): Former Goldman Sachs Group Inc. banker Tim Leissner, who pleaded guilty to helping loot the Malaysian investment fund 1MDB, was sentenced to two years in prison over his role in the massive fraud. US District Judge Margo Brodie in Brooklyn, New York, imposed the sentence at a hearing Thursday (May 29), calling his conduct "brazen and audacious." Leissner had asked not to go to prison, arguing that his cooperation with prosecutors had resulted in the conviction of a former colleague and billions of dollars in global fines against Goldman. Leissner, 53, had faced as long as 25 years in prison after pleading guilty in 2018 to one count of conspiring to violate bribery laws and conspiring to launder money. While prosecutors had also pushed for leniency, Brodie cited a letter from Goldman and said, "Without you, it's unclear these crimes would have taken place." "Your brazen and audacious conduct meant you were in a position to provide substantial assistance to the government," Brodie said. "But in the end, your cooperation does not completely make up for the harm and devastation you knowingly caused through your conduct, which was completely selfish. So some punishment is warranted." The German citizen was at the centre of what US prosecutors described as one of the largest financial frauds in history, in which billions of dollars were siphoned from the Malaysian investment fund, 1MDB. Additionally, the US said more than US$1bil was diverted from bond proceeds to pay bribes to officials in Malaysia and Abu Dhabi. But Leissner cooperated with the US and testified as the government's star witness against his former Goldman colleague, Roger Ng, at a 2022 trial. Leissner spent 10 days on the witness stand describing the sprawling fraud. Ng was convicted and sentenced to 10 years in prison. Leissner's parents and one of his daughters were in court, and he wept briefly while recounting being unable to be with another daughter after she was in a car accident. "What we did was very wrong," Leissner said. "I take full responsibility for my role in what we did." His lawyer, Henry Mazurek, lauded Leissner for cooperating with the US, saying he risked his safety to cooperate against government officials in Malaysia and Abu Dhabi who had been bribed. "Mr. Leissner began his road to redemption, which leads us to where we are today," Mazurek said. "It is time for Tim Leissner to put this trauma behind him." The judge said Leissner could be removed from the country after he finishes his prison term. Mazurek said after court that Leissner "is prepared to serve his sentence." Brodie cited the fact that the 1MDB fraud involved staggering sums. A forensic accountant with the FBI who traced diverted funds testified in 2022 that former Malaysian Prime Minister Najib Razak collected at least US$756mil, Leissner got US$73.4mil, Ng took US$35.1mil and fugitive Malaysian financier Jho Low got US$1.42 bil. At least US$60mil was used to help produce the 2013 Martin Scorsese film "The Wolf of Wall Street." The US Justice Department has recovered at least US$1.4bil in assets, including a boutique Beverly Hills hotel, fine art by Monet, Picasso and Van Gogh. Low, who was indicted along with Ng in 2018 on charges that include conspiring to launder billions of dollars embezzled from 1MDB, remains a fugitive. Before the US filed charges against him, he denied wrongdoing and said attempts to link him to the 1MDB scandal were "unfounded." Goldman paid more than US$5bil to settle global probes related to 1MDB, including US$2.9bil in the US, which was one of the largest penalties in history for a violation of US anti-bribery laws. The bank pushed back against leniency for Leissner. "Leissner's serial lies, fraud and deception at Goldman Sachs continued from the day he first brought the transactions to the firm through the day he left," the bank said in a letter to the court last week. "Mr. Leissner's efforts in this regard are worthy of sanction, not praise." Leissner still faces potential criminal prosecution in southeast Asia after Malaysia's Home Minister Saifuddin Nasution Ismail said earlier this month that the nation has submitted an extradition request for Leissner. Brodie directed Leissner to surrender to prison authorities by Sept 15. She had parting words for Leissner before adjourning court. "There is no question you turned your life around," Brodie said. "I hope that you continue to do so. The sentence I imposed on you today I believe was necessary in light of the breadth of the crimes you committed." – Bloomberg
Metro
24-05-2025
- Entertainment
- Metro
He was the perfect man – then I smelled his Guinness farts
I never thought that I'd be a woman who used dating sites. But during a long dry-spell, there I was on a Friday in 2010, in my pyjamas with a glass of wine and using a site like a Sims character generator. I'd type in strange combinations of looks and personality traits – lives in London, green eyes, Scottish, works in media, likes cats and kickboxing – just for the hell of it. Surprisingly, a match popped up. His name was Brodie* and the desired green-eyed Scot. A comment from his bio claiming he'd once made friends with a pigeon in Hackney made me laugh. We got chatting. He used full, punctuated sentences, and made minimal references to the word 'banter'. We really hit it off. But then he asked if I wanted to meet for a drink, and I panicked. If I went through with this, would I be a loser for meeting a man on dating sites? I closed my laptop and decided internet dating wasn't for me. A week later, my company sent me to work at a trade show. I arrived on time, got set up at the stand and waited for my work partner to show up. Love reading juicy stories like this? Need some tips for how to spice things up in the bedroom? Sign up to The Hook-Up and we'll slide into your inbox every week with all the latest sex and dating stories from Metro. We can't wait for you to join us! It was Brodie. I recognised him instantly. Unflatteringly, he didn't recognise me. At all. Which was probably fair, considering my profile photos had been taken from a (very) flattering angle with (very) strategic lighting, makeup and art-direction from two female friends. Brodie kept saying asking, ' You look so familiar, have we met before?' to which I replied, 'I've just got one of those faces' – that ominous phrase used by villains in Netflix shows, or people who've ghosted their new colleague on a dating app a week before. Every time Brodie shifted in his seat, the smell intensified Despite the awkward origin story, we got on well. Brodie really was funny and genuinely kind, and helped me pack up the stand when it turned out we'd ordered 400 more branded tote bags than anyone wanted. As we were leaving, he asked me out for a drink (again). I panicked, again, and said no. I'd end up admitting that we'd already met online and look like a weirdo for not saying anything sooner. Back at home, however, I felt cross with myself. Where was my lack of spontaneity? If I wanted to break this never-ending dry spell, I needed to be proactive. Also, I realised grimly, I should probably also be honest. I logged in, found Brodie's profile, and typed, 'You won't believe this, but…' To his credit, he found the whole thing funny. That had to be a good sign. We arranged to meet up two nights later. I got on the G&TS, he was on the Guinness. There was no first-date awkwardness, because we'd already spent two days bonding over branded lanyards. I was starting to relax when it happened. The smell. At first I thought it was the drains. Or someone had dropped some scampi fries down the back of the radiator several months earlier. I even furtively checked the bottom of my shoes. But then it happened again. And again. And again. It was Brodie. He'd let out a succession of silent but deadly farts. It became harder and harder to make small talk when being slowly suffocated by a cloud of Guinness gas but I stuck it out – until the smell began to travel. I saw the bartender wrinkle his nose, then sniff the beer trap. A couple next to us moved tables. Every time Brodie shifted in his seat, the smell intensified. I began to drink more, because having a glass close to my face somewhat blocked out the stench, and tried to breathe through my mouth. Five drinks in, and I swear the air was shimmering. It was less of a smell now and more of a malign presence. There were three of us on this date. When I saw a group of girls at a nearby table spraying perfume into the air, I realised I couldn't take it anymore. As Brodie leaned forward to start another story, the smell enveloped me, like a pungent cloak, and I blurted out: 'I have to go now.' He looked surprised, but agreed it was late (it was 9pm). I accepted his hug goodbye, angling my face away from the source. When I got home, I could still smell him on my clothes. I stripped off, scrubbed under a scalding shower, then deleted my dating profile for good. He messaged the next morning: 'Such a great time last night! Hope we can do it again, x' More Trending With a grimace, I replied: 'Yeah was fun! V busy at work but will let you know :)' then hid my phone under a sofa cushion. I took a break from dating for good. I worked on myself: I joined a gym and a yoga class, both of which smelled better than Brodie did. Online dating truly wasn't for me. I should have trusted my gut – and not date someone who fills theirs with Guinness on an empty stomach. Name has been changed Do you have a story you'd like to share? Get in touch by emailing Share your views in the comments below. MORE: I can't get over what I saw at the school gates MORE: I've slept with older and younger men – there's a big difference MORE: 'I thought it was a hangover – but then my headache didn't stop'
South Wales Guardian
21-05-2025
- General
- South Wales Guardian
Victoria, the UK's oldest polar bear, is euthanised at age 28
Victoria with her cub Brodie (Paul Campbell/PA) This article is brought to you by our exclusive subscriber partnership with our sister title USA Today, and has been written by our American colleagues. It does not necessarily reflect the view of The Herald. The UK's oldest polar bear has been euthanised after experiencing age-related health problems, the Royal Zoological Society of Scotland (RZSS) has said. Victoria, aged 28, had been receiving geriatric care at the RZSS Highland Wildlife Park near Kingussie. The wildlife conservation charity's vets advised that she should be euthanised after taking her quality of life and wellbeing into account. Victoria was born at Rostock Zoo in Germany in December 1996 and first gave birth in 2008 at Aalborg Zoo in Denmark to a female named Malik. In 2015 Victoria moved to the Highland Wildlife Park and gave birth to two male bears: Hamish in 2017 and Brodie in 2021. David Field, RZSS chief executive, said: 'Victoria was an excellent mother and seeing her bring up two big, healthy boys has been a joy for our charity's dedicated teams and the hundreds of thousands of visitors who have flocked to see the family, and learn more about the threats these amazing animals face in the wild.' Victoria was euthanised on Tuesday morning. RZSS said that in the wild only a small percentage of polar bears live past 18 and described Victoria's age as 'testament to the world class care she received from her keepers and veterinary team.'
Daily Record
21-05-2025
- Health
- Daily Record
UK's oldest polar bear euthanised at Scots wildlife park after months of geriatric care
Victoria, who was 28, was homed at the Royal Zoological Society of Scotland (RZSS)'s Highland Wildlife Park. The UK's oldest polar bear has died after suffering 'age-related health problems', forcing conservation vets to euthanise her. Victoria, who was 28, was homed at the Royal Zoological Society of Scotland (RZSS)'s Highland Wildlife Park. Her keepers confirmed she was put to sleep on Tuesday after advice from vets. Officials at the RSZZ said in a statement: 'The Royal Zoological Society of Scotland (RZSS) is sad to share the loss of Victoria, the UK's oldest polar bear, who had been experiencing age related health problems and receiving geriatric care. "Taking into account her quality of life and wellbeing, our wildlife conservation charity's vets advised that Victoria should be put to sleep." Officials say only a small percentage of polar bears surpass 18 in the wild, with Victoria's age a testament to the"world class care" she received. Their statement added: "She leaves an incredible legacy through her cubs who play an essential role in the European breeding programme, which ensures a healthy and genetically diverse population of these bears living in human care." Victoria had been receiving geriatric care since December of last year. She was mum to Hamish, who was the first polar cub to be born in the UK in 25 years when he was born in 2017, followed by Brodie in 2021. The aging polar bear shared an enclosure at a park in the Cairngorms, Brodie aged three. In December the RZSS said keepers noticed Victoria was struggling to keep up with Brodie. They found she had stopped demonstrating some physical behaviours such as climbing on her back legs. Vets discovered Victoria was suffering from joint pain likely to be arthritis. She was given medication to manage the pain, and vets told in their December update how the treatment had 'given her a new lease of life'. Victoria spent just over 10 years at the Highland Wildlife Park after arriving in March 2015. Born in 1996 at Rostock Zoo in Germany, she first became a mother after giving birth at Aalborg Zoo in Denmark in 2008, to a female cub called Malik. Victoria would have been in her 90s in human years. David Field, RZSS CEO, added, 'Victoria was an excellent mother and seeing her bring up two big, healthy boys has been a joy for our charity's dedicated teams and the hundreds of thousands of visitors who have flocked to see the family, and learn more about the threats these amazing animals face in the wild.' Join the Daily Record WhatsApp community! Get the latest news sent straight to your messages by joining our WhatsApp community today. You'll receive daily updates on breaking news as well as the top headlines across Scotland. No one will be able to see who is signed up and no one can send messages except the Daily Record team. All you have to do is click here if you're on mobile, select 'Join Community' and you're in! If you're on a desktop, simply scan the QR code above with your phone and click 'Join Community'. We also treat our community members to special offers, promotions, and adverts from us and our partners. If you don't like our community, you can check out any time you like. To leave our community click on the name at the top of your screen and choose 'exit group'. The RZSS drew on the experiences of other zoos and studies of polar skeletal remains to help understand wear and tear on the animals bodies. Healthcare provided to domestic cats and dogs also helped guide the care of Victoria. The park has had an elderly polar bear before. Mercedes died at the park in April 2011 at the age of 30.
