Ex-Goldman banker Leissner’s 1MDB sentencing delayed until February

Ex-Goldman banker Leissner’s 1MDB sentencing delayed until February

The former Goldman Southeast Asia chairman had pleaded guilty but is expected to get a lesser sentence after cooperating with prosecutors in Roger Ng's case.

Tim Leissner had testified against former colleague Roger Ng in his 1MDB money laundering trial in Brooklyn, New York. (Bloomberg pic)
NEW YORK:
Former Goldman Sachs Group Inc banker Tim Leissner’s sentencing for his role in the 1MDB corruption scandal has been delayed until next year.

Leissner, who pleaded guilty to charges in 2018 and testified against his former colleague Roger Ng, was originally scheduled for sentencing on Wednesday, but US district judge Margo Brodie in Brooklyn, New York, postponed the hearing to Feb 15 without an explanation.

The bribery and money-laundering charges to which Leissner pleaded guilty carry maximum sentences of decades in prison. But the former Goldman Southeast Asia chairman is likely to get much less time due to his cooperation with prosecutors.

He spent more than a week on the stand during Ng’s trial, describing 1MDB deals and the bankers’ scheming with fugitive financier Low Taek Jho, or Jho Low, to loot the Malaysian sovereign wealth fund.

Leissner’s lawyer, Henry Mazurek, declined to comment on Wednesday.

Ng, who worked under Leissner and was the only Goldman banker to go to trial over the global 1MDB scandal, was found guilty in April by a federal jury after a two-month trial. Last week, Brodie set Ng’s sentencing for Nov 9.

Leissner has been free on a US$20 million bail since his arrest by US authorities in June 2018.

Last month, Brodie granted Leissner’s request to modify his bail, allowing him to relocate to Texas for a new job. She also sealed further information about the former banker after his lawyer said there were “credible concerns” regarding Leissner’s safety.

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