Former Goldman Sachs Group executive Tim Leissner has settled charges brought by the Securities and Exchange Commission on Monday for alleged violations of the Foreign Corrupt Practices Act. His settlement includes a permanent bar from the securities industry.
According to the SEC order, beginning in 2012, Leissner, as participating managing director of Goldman Sachs, used a third-party intermediary to bribe high-ranking government officials in Malaysia and the Emirate of Abu Dhabi. These bribes enabled Goldman Sachs to obtain business from 1MDB, the Malaysian government’s sovereign wealth fund, including underwriting $6.5 billion in bond offerings. The order further finds Leissner personally received more than $43 million in illicit payments for his role in facilitating the scheme.
