Singapore mounts ban of Goldman Sachs exec with 1MDB links

BUSINESS

Singapore mounts ban of Goldman Sachs exec with 1MDB links

Annabelle Liang The Associated Press
Published Wednesday, December 19, 2018 3:59AM EST

In this March 15, 2012 file photo, a trader works in the Goldman Sachs booth on the floor of the New York Stock Exchange. (Richard Drew/AP)

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Singapore regulators have placed a lifetime ban on a former Goldman Sachs banker who faces criminal charges in the United States and Malaysia for ransacking the 1MDB state investment fund.

The Monetary Authority of Singapore said Wednesday that it decided to lengthen its 10-year ban against Tim Leissner after he pleaded guilty to charges levied by the Justice Department in November. Leissner admitted to money laundering conspiracy and conspiring to violate foreign bribery laws.

The authority said the guilty plea "provided further evidence of Mr. Leissner's involvement in fund flows related to 1MDB, which were previously not available."

Malaysian authorities have also filed charges against Leissner, who led Goldman Sachs' Singapore branch. He managed three 1MDB bond issuances from 2012 to 2013.