Greg Farrell & Keri Geiger
Bloomberg
March 7, 2016
A former Goldman Sachs Group Inc. banker has become entangled in a sprawling investigation of the Malaysian state investment fund as U.S. authorities turn to him for information.
Tim Leissner was issued a subpoena about the Malaysia matter in late February, according to three people briefed on the matter, just days after Goldman Sachs confirmed he had left the firm.
Leissner, a German national, was most recently chairman of the firm’s Southeast Asia operations but had taken personal leave and relocated to Los Angeles by early this year, according to people with knowledge of the move.
From Malaysia to Switzerland to the U.S. investigators have been trying to trace whether money might have flowed out of the fund and illegally into personal accounts. Accusations have boomeranged and been called politically motivated even as authorities outside Malaysia press ahead with their inquiries.
Prosecutors in the Justice Department’s kleptocracy asset-recovery unit are investigating whether funds were embezzled from 1Malaysia Development Bhd., known as 1MDB, by politically connected people in Malaysia, the people said. The FBI’s New York office is leading the investigation and is trying to determine if any U.S. laws were broken, according to one of the people briefed on the subpoena issued to Leissner. Continue reading “Ex-Goldman Banker to Malaysia Fund Subpoenaed in U.S. Probe”