Tuesday, March 8, 2016

Leissner quit Goldman Sachs after violating company rule, source confirms

Goldman Sachs' Southeast Asia chairman, Tim Leissner, resigned last month after he had allegedly violated the firm's internal rules, a person familiar with the matter said today, confirming a Wall Street Journal (WSJ) report. Leissner, who took over the role in mid-2014, had helped arrange the sale of US dollar bonds for Malaysian state investor 1Malaysia Development Berhad (1MDB), currently at the centre of judicial investigations in multiple jurisdictions, sources told Reuters in February. Earlier today, WSJ reported that Leissner, who had been placed on leave since January, quit after a review of his emails found that he had allegedly sent an unauthorised reference letter on behalf of an individual to another financial firm in 2015. "These details are accurate," the person familiar with the matter said, referring to the WSJ's article. A Goldman Sachs spokesman declined to comment on Leissner. Leissner himself did not respond to a request for comment. In a separate report, Bloomberg said Leissner had been subpoenaed by the US Justice Department in a money laundering probe linked to 1MDB. Leissner was issued the subpoena in late February, Bloomberg reported, citing people briefed on the matter. US prosecutors are investigating whether funds were embezzled from 1MDB by politically connected people in Malaysia, Bloomberg reported. The US Justice Department and the FBI could not be reached for comment outside regular business hours. The US government is reviewing Goldman's business relationship with the Malaysian wealth fund as part of a broader, wide-ranging investigation into 1MDB, an FBI spokesman told Reuters in October. – Reuters, March 8, 2016.]]>

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