• Tim Leissner sentenced to two years for his role in the 1MDB scandal.
• Former Goldman Sachs executive participated in one of history's largest financial frauds.
• Leissner cooperated with the U.S. government, testifying against former colleague Roger Ng.

Former Goldman Sachs banker Tim Leissner was sentenced to two years in prison by a judge in a New York court on May 29 for his involvement in the massive 1MDB fraud scheme. U.S. District Judge Margo Brodie characterized Leissner's actions as "brazen and audacious," emphasizing that his cooperation with authorities did not mitigate the substantial harm caused by his actions. Leissner previously pleaded guilty in 2018 to conspiracies involving bribery and money laundering connected to 1MDB, which led to the theft of approximately $4.5 billion from the Malaysian fund, according to SCMP, Bloomberg, Channel News Asia, and Reuters.

Leissner's sentencing is part of a broader investigation into the 1MDB scandal that has implicated notable figures, including former Malaysian Prime Minister Najib Razak. The scheme involved diverting billions meant for economic development to offshore accounts and shell companies, primarily benefiting fugitive financier Jho Low, who played a significant role in the fraud. As a result, Goldman Sachs faced severe repercussions, including a $2.9 billion fine, marking the first criminal case against the firm in its 156-year history, according to Bloomberg and Reuters.

During the sentencing, Leissner expressed remorse, stating, "First and foremost, I offer my sincere apology to the people of Malaysia," acknowledging the extensive damage his actions inflicted. His cooperation included testifying against former colleague Roger Ng, who has been charged and is currently facing legal proceedings. Leissner's attorney noted that he was prepared to serve his sentence while trying to lead a more positive life moving forward, highlighting the complex aftermath of his role in this fraudulent scheme, according to SCMP, Channel News Asia, and Reuters.