Hong Kong is the latest country to take action against former Goldman Sachs banker Tim Leissner because of the 1MDB scandal.
Hong Kong’s Securities and Futures Commission (SFC) banned Tim Leissner from re-entering the industry for life for his crimes linked to the 1MDB scandal.
The SFC said: “The SFC considers that Leissner’s conduct demonstrates a serious lack of honesty and integrity and called into question his fitness and properness to be a licensed person.”
According to the SFC statement, Leissner had in August 2018 pleaded guilty to criminal charges brought by the US Department of Justice (US DOJ) against him for conspiring to commit money laundering and violate the Foreign Corrupt Practices Act.
The SFC said Leissner admitted, among others, that between 2009 and 2014, he conspired with others to obtain and retain business from 1MDB for Goldman Sachs, through the promise and payment of bribes and kickbacks to government officials in Malaysia and Abu Dhabi, embezzle funds from 1MDB for himself and others, and launder the bribes and kickbacks, as well as other embezzled funds from 1MDB; and knowingly and wilfully circumvent the controls of Goldman Sachs.
The court in the US adjudicated Leissner as guilty of both offences, and ordered him to forfeit US$43.7 million (about RM181 million) as a result of his crimes.
Back home in Malaysia, the question every Malaysian is entitled to ask is: When will all the former Ministers, MPs and BN leaders in the former government of Datuk Seri Najib Razak apologise to the nation for pretending that there was no 1MDB scandal – when the whole world regarded Malaysia under Najib was a global kleptocracy because of 1MDB scandal?