US regulator bans two ex-Goldman execs over 1MDB scandal
Tim Leissner is one of the two former Goldman Sachs bankers who have received lifetime bans from the US Federal Reserve. — AFP pic
The Fed said Leissner did not contest the lifetime ban from working in the country’s financial industry. Ng was charged in the US with participating in money laundering and bribery, and is currently in Malaysia where he will first be put on trial for offences here. The Malaysian government is seeking to recover the “above average” fees the US bank charged for the bond issues in addition to other losses.It held back the bonuses of top executives over the matter, including payments to former chief executive Lloyd Blankfein who has been linked to early negotiations with Low.
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