Justice Department Charges Ex-Goldman Bankers in Malaysia 1MDB Scandal
Charges name former Goldman bankers Tim Leissner and Roger Ng, as well as Malaysian financier Jho Low
Starting in Malaysia, a scandal involving the 1MDB fund set up by Prime Minister Najib Razak now involves at least 10 countries, including the U.S. This animation shows how money allegedly misappropriated from 1MDB moved through global wealth centers before being used to buy real estate, art, and other assets around the world, including in New York and Beverly Hills. Illustration: Oliver Osborne for The Wall Street Journal. (Originally Published January 12, 2017)
Two senior Goldman Sachs bankers paid bribes and stole and laundered money from a Malaysian sovereign-wealth fund, U.S. prosecutors allege, putting the bank at the center of one of the biggest financial frauds in history.
Former Goldman partner Timothy Leissner, then its head of Southeast Asia, pleaded guilty to conspiring to launder money and violate foreign antibribery laws for helping siphon off billions of dollars from the fund, known as 1Malaysia Development Bhd, or 1MDB, according to filings unsealed Thursday.
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