Latest news with #Ex-GoldmanSachs
RTHK
4 days ago
- Business
- RTHK
Ex-Goldman Sachs banker gets two years over 1MDB theft
Ex-Goldman Sachs banker gets two years over 1MDB theft Former Goldman Sachs chief of southeast Asia operations, Timothy Leissner, arrives at the US District Court for Eastern District of New York for his sentencing. Photo: AFP A former Goldman Sachs banker has been sentenced to two years in US federal prison for his role in a US$4.5 billion scheme to ransack a Malaysian state investment fund. Tim Leissner, at his sentencing in Brooklyn federal court on Thursday, apologised to the people of Malaysia, who he called the 'real victims' of the scheme. 'The funds raised more than a decade ago could have profoundly benefited the nation and its citizens,' he said in a statement read in court and provided by his lawyers. 'Instead, due to my greed – and the greed of those involved alongside me – they were misappropriated.' Prosecutors said Leissner and other Goldman Sachs bankers helped the Malaysian investment fund known as 1MBD, or the 1Malaysia Development Berhad state fund, raise US$6.5 billion through bond sales. But they say more than US$4.5 billion of the funds were stolen and laundered through bribes and kickbacks. The spoils bankrolled extravagant purchases, from wild parties to lavish spending on jewels, art, a superyacht and luxury real estate, prosecutors have said. They also helped finance the 2013 Martin Scorsese film 'The Wolf of Wall Street' that starred Leonardo DiCaprio. The scandal led to the fall of Malaysian prime minister Najib Razak's government in 2018. Najib was later convicted by a Malaysian court of abuse of power and other crimes related to the scandal and sentenced to 12 years in prison. Leissner had pleaded guilty in 2018 to bribing government officials in Malaysia and Abu Dhabi. He served as a key government witness in the trial of Roger Ng, a fellow former Goldman Sachs banker who was sentenced in 2023 to 10 years in federal prison. (AP)
Free Malaysia Today
23-04-2025
- Business
- Free Malaysia Today
Court rules ex-Goldman Sachs banker can testify in Najib's 1MDB trial
Ex-Goldman Sachs banker Roger Ng was convicted by a New York court of corruption in 2013 and is said to be prohibited from being interviewed and testifying in Najib Razak's 1MDB case, according to his lawyer. PUTRAJAYA : The High Court here has ruled that former Goldman Sachs banker Roger Ng can testify in Najib Razak's 1MDB trial. Justice Collin Lawrence Sequerah said the courts in Malaysia were not bound by the protective order issued on July 29, 2019 by New York's eastern district court which tried and convicted Ng for corruption. 'This court cannot wait for a variation to be made (to the protective order). 'This is a public interest case that has been dragged on for too long,' he added. Earlier today, the court was told that Ng's protective order barred him from being interviewed and giving evidence. Ng's lawyer, Tan Hock Chuan, said the protective order remained in force despite the fact that the case against Ng in New York concluded in 2023. He added that Ng's appeal is pending a decision. 'The American lawyers who handled his trial have advised us that he would be exposed to criminal liability if he were to testify here. 'Criminal sanctions can be taken and whatever he says here may be used against him for the appeal,' Tan said. The lawyer said his American counterpart intended to file a motion to vary the protective order to allow Ng to testify in Najib's defence. However Najib's lawyer Shafee Abdullah said the protective order did not cover documents and exhibits tendered in Ng's corruption case or matters that he might recall from his personal experience prior to the date of the order. Shafee added that under 132(2) of the Evidence Act 1950, no answer which a witness shall be compelled by the court to give shall subject him to any arrest or prosecution, except where the evidence given is false.
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New Straits Times
21-04-2025
- Politics
- New Straits Times
News@9 – Monday, April 21 [WATCH]
KUALA LUMPUR: Good evening. You're watching News@9. Here are today's top stories: LAWFUL DETENTION The detention of two Sin Chew editors over the publishing of an incomplete Malaysian flag was lawful, said Communications Minister Fahmi Fadzil. CRUCIAL TESTIMONY Ex-Goldman Sachs banker Roger Ng is set to testify in Najib Razak's 1MDB trial next month, with the defence suggesting his testimony could shift focus to other key players. EVIDENCE A senior officer testified that no foreign DNA was found on Zayn Rayyan's body, while evidence linked foreign objects to his death. The cause of death was confirmed as ligature strangulation. CATHOLICS MOURN Pope Francis, the first Latin American pope, has died at 88 after surviving a severe bout of pneumonia. His papacy was marked by reform efforts. That's all for News@9.
