“Victim” Restitution Claim Related To Leissner Conviction Denied
Previous posts here and here discussed the recent two year prison sentence imposed on Tim Leissner (the former Southeast Asia Chairman at Goldman Sachs) who pleaded guilty to conspiracy to violate the FCPA and conspiracy to commit money laundering in connection with a bribery scheme involving various Malaysian and Abu Dhabi officials in connection with 1Malaysia Development Berhad (1MDB), Malaysia’s state-owned and state-controlled investment development company.
In connection with the sentencing, Xavier Justo (a former employee of PetroSaudi) filed a letter with the court seeking restitution from Leissner pursuant to the Mandatory Victims Restitution Act of 1996 (“MVRA”) and Crime Victims’ Rights Act (“CVRA”) in the amount of $18,266,909.31, inclusive of (i) $128,500 in costs directly flowing from Justo’s unlawful incarceration, (ii) $9,525,726 in lost property, (iii) $1,054.02 in expenses incurred during participation in the 1MDB investigation, and (iv) $8,611,629.29 in pre-judgment interest.
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.
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.