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 March 2019 – based on the same core conduct – the Federal Reserve brought an enforcement action against Leissner in which he consented to a permanent ban from the banking industry and agreed to pay a $1.4 million fine.
Yesterday, the SEC returned to the same core action and announced an FCPA enforcement action against Leissner. The action was largely ceremonial as the SEC’s order requires Leissner to pay disgorgement of $43.7 million which will be offset by the amounts paid pursuant to the forfeiture order in the parallel criminal action.