If we all know something about former Goldman Sachs banker Tim Leissner (and, because the financial institution may say, we don’t actually know a lot definitively), it’s this: The person tells story. Tales like: “Uh, how do you assume big offers get completed at a spot like Goldman Sachs?” and “I’ve no concept who all these ladies I’m allegedly sleeping with and/or married to are.”
Certainly, telling such tales is an element and parcel of Leissner’s post-Goldman profession as a cooperating witness for the federal government in the entire sordid 1MDB Malaysian bribery and kickbacks scandal that’s completed a lot to drag Goldman’s title by the mud. However that’s in no way what Leissner supposed.
“I knew it was unlawful,” he mentioned. “I wished this to be completed for Goldman Sachs. I wished to be a hero at Goldman Sachs.”
And, he says, he knew that the higher-ups would look the opposite means, as they did with the afore-alluded-to sexual shenanigans.
“At Goldman Sachs we have been tasked with all the time discovering new enterprise alternatives,” he mentioned.
Which brings us to the rationale for Leissner’s present efficiency on (decrease) Broadway: the trial of his one-time subordinate, good friend and alleged partner-in-crime Roger Ng, who Leissner says launched him to worldwide man of thriller, good occasions and good style Jho Low.
Mr. Leissner mentioned Mr. Low hosted the 2012 assembly at his London house. There, Mr. Low described intimately all the federal government officers who could be paid bribes to ensure that Goldman to safe the rights to rearrange billions of {dollars} in bond choices for the 1MDB fund, Mr. Leissner testified.
Mr. Low additionally instructed the previous Goldman executives that the bribe cash must come from the proceeds of the bond providing — and that they might get a few of these proceeds as effectively, based on Mr. Leissner.
“Roger and I have been instructed by Jho that we’d be taken care of,” Mr. Leissner mentioned.
Anyway, enjoyable as all that is, the true fireworks are set to start as soon as direct examination ends.
Protection attorneys may draw from a file that Goldman had put collectively presenting Mr. Leissner as a grasp con artist, whereas the financial institution was negotiating its personal take care of prosecutors and regulators. In his opening assertion on Monday, Marc Agnifilo, one in every of Mr. Ng’s attorneys, sought to name Mr. Leissner’s character into query, calling him a “double bigamist” and claiming that he was twice married to 2 ladies on the identical time.
It positive is nice David Solomon has one thing else to give attention to this week.
Former Goldman Sachs Accomplice Testifies at 1MDB Trial [WSJ]
A former Goldman Sachs banker says the plot to loot a Malaysian sovereign wealth fund was specified by 2012. [NYT]
Goldman CEO David Solomon raises monetary targets, takes victory lap after crushing 2020 objectives [CNBC]
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