Kumari Shreya
Netflix’s ‘Man on the Run’ is a documentary shedding light on the intricate details of the 1MDB (1Malaysia Development Berhad) scandal. The billion-dollar case became well-known across the world for its impact not only on Malaysia but also on many other countries, with even the FBI investigating the people involved. Two of the most prominent names who were considered culpable in the scandal’s impact are Goldman Sachs’ Tim Leissner and Roger Ng, whose current whereabouts remain a subject of public interest.
Tim Leissner is Now Awaiting His Sentence
A former Managing Director of Goldman Sachs, Leissner’s involvement in the 1MDB scandal came about during his role as the Chairman of the bank’s South East division, which included the country of Malaysia. Goldman Sachs was one of the key players allegedly taking money from the sovereign fund under the guise of investing it properly to help in Malaysia’s growth. However, not all was as it seemed, and many in the company’s upper circles were accused of stealing money from the fund.
Leissner was one of the individuals who was investigated under the possibility that he may have taken money from the 1MDB fund for his personal use. Additionally, the fact that Goldman Sachs was even able to form such a strong connection with 1MDB’s officials that the funds were directed toward the company also made Leisnner come under scrutiny, as few were able to understand just how it all came about legitimately.
As the investigations continued, Leissner pleaded guilty in August 2018 to the charges of conspiracy to launder money and conspiracy to break the rules of the Foreign Corrupt Practices Act (FCPA) by bribing Malaysian officials to direct funds to Goldman Sachs. In his pleading statement, he admitted to personally stealing a sum of $200 million. Though he himself has not yet received his punishment, Leissner did testify in Roger Ng’s trial, stating that he gave $35.1 million from 1MDB to Ng. He also claimed that he had been given $80 million as a payment for his part in the case. On a more personal note, he is still married to Kimora Lee Simmons, though the two have reportedly become estranged. Leissner has two children, including his son from his marriage to Simmons.
Roger Ng is in Malaysia Today
Ng Chong Hwa, AKA Roger Ng, was a Managing Director for Goldman Sachs and allegedly played a prominent role in helping launder the money from the 1MDB fund. Given that the money that Ng and his co-conspirators came from a government fund, the outrage about the whole situation was certainly a huge one. Ng’s apparent actions harmed those who could have benefited from the same money had it been used in the manner it was meant to.
In fact, the amount that Ng and his co-conspirators may have taken out from the 1MDB fund is believed to be about $6.5 billion. The staggering amount of money and the implications of its theft have certainly left the world reeling. Ng was considered to have played a central role in the scam and apparently also bribed several officials in Malaysia in order to keep the scheme going. Ng was ultimately put on trial in New York for his actions pertaining to his involvement in the scandal.
Following a seven-week trial, Ng was declared guilty of money laundering and bribing foreign officials in direct violation of FCPA. His actions pertaining to Goldman Sachs’ account control also added to his alleged crimes. On March 9, 2023, Ng was sentenced to 10 years in prison. However, he was then extradited to Malaysia in October 2023 in order to answer for the laws he broke in the country. It does not seem like Ng’s trial in Malaysia has started as of writing, and his case remains a point of interest for many who have been following the 1MDB story.
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