Hong Kong’s Securities and Futures Commission announced Wednesday that it has banned Tim Leissner, a former participating managing director at Goldman Sachs (Asia), from re-entering the industry for life in connection with his crimes relating to 1MDB, the Malaysian government’s sovereign wealth fund.
In November 2018, the U.S. Department of Justice unsealed a criminal information and guilty plea by Leissner and an indictment against Ng Chong Hwa, a former managing director of the firm, and Malaysian financier Low Taek Jho. Leissner pleaded guilty to a two-count criminal information charging him with conspiring to launder money and conspiring to violate the U.S. Foreign Corrupt Practices Act’s anti-bribery and internal accounting controls provisions.
