NEW YORK – Former Goldman Sachs Group Inc. banker Tim Leissner, who pleaded guilty to participating in the massive 1MDB foreign bribery fraud, was ordered to forfeit US$43.7 million (S$58.7 million) in cash as well as all 3.3 million shares in fitness drink company Celsius Holdings Inc. Read more at straitstimes.com.
NEW YORK – Former Goldman Sachs Group Inc. banker Tim Leissner, who pleaded guilty to participating in thewas ordered to forfeit US$43.7 million in cash as well as all 3.3 million shares in fitness drink company Celsius Holdings Inc.
The forfeiture order comes the same day the government is set to issue a sentencing recommendation for Ng. Ahead of the full recommendation, the US on Friday asked Brodie to order Ng to forfeit US$35.1 million. The US said that both Leissner, Goldman’s former Southeast Asia head, and Ng conspired with financier Jho Low, the alleged mastermind of the sprawling fraud scheme, to bribe officials in Malaysia and Abu Dhabi to facilitate bond deals. Ng, 51, the only Goldman employee to go to trial over the multibillion-dollar looting, was convicted by a federal jury in April of three felony counts, including conspiring to violate US anti-bribery laws and conspiring to launder money.
Low stole US$1.42 billion from three bond transactions that Goldman arranged for 1MDB, according to a forensic accountant with the Federal Bureau of Investigation who testified at Ng’s trial. The US said evidence showed Ng collected US$35.1 million in the fraud while Leissner received US$73.4 million. Low remains a fugitive.
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