Tim Leissner

Money Laundering Controversy

.Tim had a few allegations that he had to answer to. No one expected it to be the money laundering scam that it turned out to be. The scam involved worldwide famous personalities. In 2019, a reported stated that Tim helped the Malaysian Prime Minister fill his finances with $681 million. This huge sum is said to have been served as a gift from the Saudi Royal Family. Tim was found to be a binding partner among these businessmen. Tim Leissner got ransacked with this controversy by the media. The investigations found an amount of $6.5 billion, raised by Goldman Sachs. It’s had only been a few years since Tim helped the bank soar in Southeast Asia.

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“He has to know a lot of people, that’s just the nature of the business,” said Gerry David, president of Celsius Holdings Inc., an energy-drink company that counts Leissner and Hong Kong billionaire Li Ka-shing as investors. “He’s the type of person that I would honestly tell you I would really want as a friend, a personal friend.“At that time we promptly took steps to separate Leissner from the firm and reported the matter to regulatory authorities in several jurisdictions, including Singapore. We continue to cooperate with the MAS,” said Goldman Sachs in an e-mailed statement to Bloomberg concerning the matter.

US officials banned the former Goldman Sachs official from working in the securities business after he conceded to organizing the plundering of billions of dollars from Malaysia's sovereign wealth fund 1MDB. The settlement comes over a year after Tim Leissner conceded paying off high-positioning authorities in Malaysia and Abu Dhabi with the goal that Goldman could win rewarding business from 1MDB. The situation shook the Malaysian political scene and the Wall Street bank. Tim didn't challenge the punishment in arriving at a settlement reported on Dec 16, 2019 by the US Securities and Exchange Commission.

Tim's talented decisions and hardworking nature earned him various positions in global business. Apart from recent controversies, Tim is still believed to have good feelings towards Goldman Sachs. In any case, his professional success cannot be doubted as even the Wall Street Journal has stated that “Leissner has had a great deal of success under Goldman Sachs as their main contact in Malaysia”.

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Last Modified: Jun 27 2020
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