The Perspective Of Goldman Sachs
Last week, Tim Leissner (the former Southeast Asia Chairman at Goldman Sachs) was sentenced to two years in prison for his role in paying bribes to various Malaysian and Abu Dhabi officials in connection with 1Malaysia Development Berhad (1MDB), Malaysia’s state-owned and state-controlled investment development company.
In advance of his sentencing, the Chief Legal Office and General Counsel of Goldman submitted a letter to the court offering Goldman’s perspective on Leissner’s conduct.
The letter stated in pertinent part:
Leissner Receives 2 Year Sentence
As highlighted in this prior post, in November 2018 the DOJ announced a Foreign Corrupt Practices Act and related enforcement action against Tim Leissner (the former Southeast Asia Chairman at Goldman Sachs) and others associated with Goldman Sachs for paying bribes to various Malaysian and Abu Dhabi officials in connection with 1Malaysia Development Berhad (1MDB), Malaysia’s state-owned and state-controlled investment development company. Leissner pleaded guilty and was ordered to forfeit $43.7 million as a result of his crimes.
As highlighted in this prior post, in April 2022 co-defendant Roger Ng (a former managing director at Goldman Sachs) was found guilty at trial of FCPA and related charges. Leissner testified at the trial. In 2023, Ng was to 1o years prison by Judge Margo Brodie (E.D.N.Y.) (See here for the prior post).
It’s Been Six Years Since Leissner Pleaded Guilty, But He Still Has Not Been Sentenced
As highlighted in this prior post, in November 2018 the DOJ announced a Foreign Corrupt Practices Act and related enforcement action against Tim Leissner (the former Southeast Asia Chairman at Goldman Sachs) and others associated with Goldman Sachs for paying bribes to various Malaysian and Abu Dhabi officials in connection with 1Malaysia Development Berhad (1MDB), Malaysia’s state-owned and state-controlled investment development company. Leissner pleaded guilty and was ordered to forfeit $43.7 million as a result of his crimes.
Nearly six years later, Leissner has not yet been sentenced.
“Mr. Murta Has Decided Not To Fight Any Longer”
Testing innocence in a criminal matter can impose substantial burdens on a defendant.
Particularly when that defendant is a foreign national in the United States separated from his family.
As highlighted in this prior post, in September 2019 the DOJ announced the unsealing of a criminal indictment against (among others) Paulo Casqueiro Murta in connection with an alleged bribery scheme involving Venezuela’s state-owned and state-controlled energy company, PDVSA. According to the DOJ, Murta (a citizen of Portugal) provided financial services to various co-defendants (including former employees of PDVSA) in connection with various bribery schemes and he was charged with directly violating or assisting others in violating the FCPA and money laundering laws.
Yan Sentenced To 3.5 Years For Marshall Islands Bribery Scheme
As highlighted in this prior post, in September 2022 the DOJ announced that two Marshall Island nationals (Cary Yan and Gina Zhou) arrived in the U.S. after being extradited from Thailand based on 2020 criminal charges that the individuals violated the Foreign Corrupt Practices Act (and other laws) in connection with an alleged scheme to bribe elected officials in the Republic of the Marshall Islands (RMI) in exchange for passing certain legislation.
According to the indictment, Yan and Zhou acted as officers, directors, employees, and agents of a New York City based non-governmental organization (World Organization of Governance & Competitiveness (WOGC)) and, while in New York City and other locations in U.S. territory, to offer and pay bribes to government officials in the RMI to pass certain legislation that would benefit the business interests of Yan, Zhou and their associates. Specifically, to establish a semi-autonomous region within a region of the RMI known as the Rongelap Atoll.
In December 2022, Yan and Zhou pleaded guilty to one count of conspiracy to violate the FCPA’s anti-bribery provisions. (See here).
Yesterday, the DOJ announced that Yan was sentenced to 3.5 years in prison.