1MDB scandal: US investigating 'payments' to ex Goldman Sachs executive Tim Leissner
1MDB scandal: US investigating 'payments' to ex Goldman Sachs executive Tim Leissner
By Mary Papenfuss
May 19, 2016 06:56 BST
US federal prosecutors are reportedly investigating an alleged transfer of hundreds of thousands of dollars from a former employee of the scandal-plagued 1Malaysia Development Berhad investment fund, to a then-senior banker of the Southeast Asia operation of the Goldman Sachs Group.
Former executive Tim Leissner, who lives in Los Angeles, left Goldman Sachs in early 2016. A source told Bloomberg that the transfer was an investment in a start-up company that Leissner was backing with the former 1MDB employee. Another source said an internal investigation by Goldman Sachs failed to spot the transfer, Bloomberg reported.
Prosecutors are also looking into Goldman Sachs' role in helping to raise more than $6 billion (£4.1bn, €5.4bn) years ago for 1MDB, according to sources.
A second probe by the US Justice Department joins others in Singapore, Luxembourg and Switzerland as authorities attempt to trace money missing from the fund...
Read more:
http://www.ibtimes.co.uk/1mdb-scandal-us-investigating-payments-ex-goldman-sachs-executive-tim-leissner-1560837
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