News Global Former Goldman Sachs Banker Tim Leissner Seeks Presidential Pardon in $4.5 Billion 1MDB Fraud CaseFormer Goldman Sachs Banker Tim Leissner Seeks Presidential Pardon in $4.5 Billion 1MDB Fraud Case
Tim Leissner, Goldman Sachs' Southeast Asia chairman, has applied for presidential pardon after pleading guilty in 2018 to the $4.5 billion 1MDB fraud. Despite his cooperation as star witness in the 2022 trial against colleague Roger Ng, he received a two-year prison sentence and is scheduled to surrender in February.
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Tim Leissner, Goldman Sachs Group Inc.'s Southeast Asia chairman, is seeking a presidential pardon before beginning his prison sentence for his role in one of the largest financial fraud schemes in history. The pardon application represents his final attempt to avoid incarceration for his admitted participation in the $4.5 billion 1MDB embezzlement scandal.
Pardon Application Details
Leissner filed his pardon application with the US Justice Department last year, according to official DOJ records. The application was submitted between September 3 and November 18, based on archived documentation. His request joins thousands of clemency petitions currently under White House review, including applications from other high-profile financial crime defendants.
| Case Details: | Information |
|---|---|
| Fraud Amount: | $4.5 billion |
| Guilty Plea Date: | 2018 |
| Prison Sentence: | 2 years |
| Surrender Date: | February 6 (requested) |
| Original Date: | January 12 |
Cooperation and Sentencing
Leissner pleaded guilty in 2018 to engaging in the scheme to embezzle funds from Malaysian sovereign wealth fund 1MDB. He subsequently became the government's key witness, cooperating extensively with prosecutors in their case against Roger Ng, his Goldman colleague, during a 2022 trial in Brooklyn, New York.
Despite arguments from both Leissner and prosecutors that his cooperation warranted leniency, the federal judge imposed a two-year prison sentence. The judge characterized Leissner's conduct as "brazen and audacious," rejecting recommendations for reduced punishment based on his assistance to authorities.
Impact and Global Consequences
The 1MDB fraud had far-reaching consequences beyond financial losses. The scandal contributed to the collapse of the Malaysian government and triggered investigations across six countries. Leissner's cooperation helped authorities secure the conviction of Roger Ng and resulted in billions of dollars in global fines against Goldman Sachs Group Inc.
| Key Participants: | Role |
|---|---|
| Tim Leissner: | Goldman Southeast Asia Chairman |
| Roger Ng: | Goldman Colleague (Convicted) |
| Jho Low: | Malaysian Financier (Alleged Architect) |
Current Status and Timeline
Leissner was originally scheduled to surrender on November 17 but received an extension until January 12. His legal team, led by attorney Henry Mazurek, has requested another delay until February 6 to allow prison officials time to locate an appropriate facility near his family in California. The request reflects ongoing logistical considerations as he prepares to begin his sentence.
At his sentencing hearing, Leissner expressed remorse for his actions, acknowledging the severity of his crimes. He stated his understanding of "how terrible my crime was" and recognized that he "helped steal billions of dollars not just from individuals, but from an entire nation."
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