Friday, March 11, 2016

Goldman Sachs banker quit after ‘unauthorised’ reference letter

Tim Leissner, the former Goldman Sachs Group Inc banker, resigned from the firm after he was placed on leave in January over "inaccurate and unauthorised statements" in a reference letter, according to Financial Industry Regulatory Authority records. Leissner's termination date was February 23, according to the filing, which described the departure as a "voluntary resignation". Leissner worked at the New York-based bank for 18 years. "The firm interviewed the representative with respect to inaccurate and unauthorised statements made by him in a June 2015 reference letter provided to a non-US financial institution that he wrote on behalf of a foreign affiliate of the firm, without the affiliate's or the firm's knowledge or approval," according to the filing. Leissner, one of Goldman Sachs's top bankers in Southeast Asia before his departure, was issued a subpoena in the ongoing investigation of 1Malaysia Development Bhd, the state investment fund known as 1MDB, people briefed on the matter have said. The probe is looking into whether funds were embezzled from 1MDB by politically connected people in Malaysia, the people said. – Bloomberg, March 12, 2016.]]>

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