Former Goldman Sachs banker Tim Leissner has been permanently barred from the securities industry by U.S. regulators over bribery in the 1MDB scandal.
The SEC issued charges yesterday against Leissner including violation of anti-bribery, internal accounting controls, and books and records provisions alongside his permanent barring from the industry.
«Individual conduct lies at the heart of all bribery schemes,» said Charles Cain, chief of SEC’s FCPA (Foreign Corrupt Practices Act) unit, in a statement. «Here, Leissner abused his leadership role at Goldman Sachs by engaging in a massive bribery scheme targeting the highest levels of two foreign governments to bring in lucrative business to the firm and enrich himself.»
The SEC’s settlement deal with Leissner also involves the forfeiture of $43.7 million which was obtained as part of his role in facilitating bribes to high ranking officials in Malaysia and Abu Dhabi to help Goldman Sachs secure business from 1MDB. The amount will also be offset by payments from settlements reached last year with the Justice Department.
