Malaysia wants Tim Leissner extradited over 1MDB scandal

Malaysian authorities want convicted financier Tim Leissner extradited for his involvement in the 1MDB scandal, reported the Wall Street Journal.

They had submitted an extradition request to the US Justice Department in August last year and Interpol issued a red notice against the ex- Goldman Sachs partner in November, reporter the WSJ.

Leissner pleaded guilty in 2018 in the US to conspiring to launder money and paying bribes, admitting that he and his family received substantial kickbacks.

“He is currently awaiting sentencing in the US, scheduled for May 29,” said the WSJ.

The report said Malaysian authorities are concerned he might flee to his birthplace, Germany, creating extradition issues.

It added that Malaysia is continuing to investigate the case with help from Leissner’s former deputy, Roger Ng, who returned to Malaysia after his US conviction.

Leissner, who served as Goldman’s Southeast Asia chairman, was a central figure in US$6.5 billion in bond deals for 1MDB between 2012 and 2013.

US prosecutors said Leissner conspired with fugitive financier Low Taek Jho and fellow Goldman banker Roger Ng to pay over US$1.6 billion in bribes to officials in Malaysia and the Middle East.

Ng is expected to testify as a defence witness in former prime minister Najib Razak’s 1MDB corruption trial before being returned to US custody.

Goldman Sachs and Malaysia are currently in dispute over their 2020 settlement, where the former had agreed to pay US$2.5 billion with a guarantee to recover US$1.4 billion in assets.