Fugitive FCPA Defendant Seeks A Pardon
In 2018, the DOJ announced that Low Taek Jho (Jho Low – pictured), Ng Chong Hwa (Roger Ng – a former managing director at Goldman Sachs), and Tim Leissner (the former Southeast Asia Chairman at Goldman Sachs and Participating Manager Director) were charged with FCPA offenses 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. The individuals were also charged with conspiring to launder billions of dollars embezzled from 1MDB.
In 2020, based upon the same core conduct, Goldman Sachs resolved a net $1.66 billion FCPA enforcement action – the largest ever FCPA settlement.
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).
Leissner Sentencing Scheduled For May 29th
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 Roger Ng (a former managing director at Goldman Sachs) was found guilty at trial of FCPA and related charges. Leissner testified at the trial.
Leissner has not yet been sentenced.
However, he is scheduled to be sentenced on May 29th by Judge Margo Brodie (E.D.N.Y.) and recently sentencing memos were filed by the DOJ and Leissner.
DOJ Seeks A 15 Year Sentence For Ng
As highlighted in this recent post, former Goldman Sachs managing director Roger Ng (found guilty at trial in 2022 of FCPA and related charges for paying bribes to various Malaysian and Abu Dhabi officials in connection with Malaysia’s state-owned and state-controlled investment development company) is seeking a “time served” sentence.
Sentencing is set for later this week and Judge Margo Brodie (E.D.N.Y.) will have quite the range to ponder as the DOJ is seeking a 15 year sentence for Ng.
A recent sentencing submission states in summary fashion: