Ex-Goldman Sachs banker gets 2 years in prison for plot to fleece billions from Malaysia's 1MDB fund

NEW YORK -- A erstwhile Goldman Sachs banker was sentenced Thursday to 2 years successful national situation for his relation successful a $4.5 cardinal strategy to ransack a Malaysian authorities concern fund.

Tim Leissner, astatine his sentencing successful Brooklyn national court, apologized to the radical of Malaysia, who helium called the “real victims” of the scheme.

“The funds raised much than a decennary agone could person profoundly benefited the federation and its citizens,” helium said successful a connection work successful tribunal and provided by his lawyers. “Instead, owed to my greed — and the greed of those progressive alongside maine — they were misappropriated.”

Prosecutors said Leissner and different Goldman Sachs bankers helped the Malaysian concern money known arsenic 1MBD, oregon the 1Malaysia Development Berhad authorities fund, rise $6.5 cardinal done enslaved sales.

But they accidental much than $4.5 cardinal of the funds were stolen and laundered done bribes and kickbacks.

The spoils bankrolled extravagant purchases, from chaotic parties to lavish spending connected jewels, art, a superyacht and luxury existent estate, prosecutors person said. They besides helped concern the 2013 Martin Scorsese movie “The Wolf of Wall Street” that starred Leonardo DiCaprio.

The ungraded led to the autumn of Malaysian Prime Minister Najib Razak’s authorities successful 2018. Najib was aboriginal convicted by a Malaysian court of maltreatment of powerfulness and different crimes related to the ungraded and sentenced to 12 years successful prison.

“What we did was unequivocally wrong, and I instrumentality afloat work for my role,” Leissner said Thursday. "I profoundly regret my actions, and if I could crook backmost time, I would undo them without hesitation.”

Leissner had pleaded blameworthy successful 2018 to bribing authorities officials successful Malaysia and Abu Dhabi.

He served arsenic a cardinal authorities witnesser successful the proceedings of Roger Ng, a chap erstwhile Goldman Sachs banker who was sentenced successful 2023 to 10 years successful national prison.

Ng's lawyers described the looting of 1MDB arsenic “perhaps the azygous largest heist successful the past of the world," but maintained prosecutors scapegoated him for crimes committed by others, including the higher-ranking Leissner.

Prosecutors declined to remark connected Thursday's sentence. They had not sought a circumstantial situation word successful filings up of sentencing portion lawyers for Leissner had sought a condemnation of clip already served.

Leissner is owed to study to situation Sept. 15 and his lawyers person requested that helium beryllium sent to the national situation successful Otisville, New York, according to the prosecutors.

Henry Mazurek, Leissner's lawyer, said his lawsuit is prepared to service his sentence. It includes 2 years of supervised merchandise aft situation and a forfeiture totaling $43.7 million, which already has been paid.

“Mr. Leissner cooperated not lone to get leniency astatine sentencing, but to amusement his existent remorse for his actions and archer the afloat communicative of 1MDB and Goldman Sachs,” Mazurek said successful an email. "He did that and volition proceed to archer each who volition perceive astir the poisonous civilization astatine Goldman that inspired the 1MDB scheme.”