Source https://www.zerohedge.com/news/2018-11-01/ex-goldman-banker-will-plead-guilty-charges-related-1mdb-scandal

Back in July, it was believed that Leissner was planning to cooperate with federal authorities, raising the possibility that he could help expose some of the endemically corrupt practices happening behind the scenes at the Vampire Squid. Since WSJ exposed the fraud back in 2015 after 1MDB missed bond payments, the scandal has riveted the financial press and drawn intense scrutiny from the DOJ, with AG Jeff Sessions calling it "kleptocracy at its worst."

And now it appears Leissner - who is married to Kimora Lee-Simmons - has done just that. As the Wall Street Journal reported Thursday morning, the former banker is expected to plead guilty to conspiracy to launder money and violate the FCPA. As part of the settlement, he has agreed to a $44 million fine for his role in the scandal - a guilty plea that, we imagine, will lead to his eventual cooperation.

But while Leissner's situation is hardly ideal, his former deputy has it even worse. Roger Ng, the former deputy director of Goldman's SE Asia practice, is expected to be indicted by the DOJ, alongside Jho Low, the Malaysian financier whose exploits have been widely chronicled in the Western media. Low allegedly masterminded the 1MDB fraud.

Last week, Razak and his former Treasury secretary were charged with criminal breach of trust, months after Razak was imprisoned shortly after losing his reelection race to a rival who had promised to prosecute him.

As the DOJ prepares its announcement, attention will now turn to what, exactly, Leissner told investigators and whether his former employer could be held liable.

Ties to Australian Former PM Turnbull ?

source https://cairnsnews.org/tag/malcolm-turnbull-goldman-sash/

Chairman of Goldman’s SE Asia Operations, Tim Leissner is a former work colleague of Prime Minister Malcolm Turnbull when he was employed by the merchant bank.

The fallout from the widening scandal hitting the white-shoe investment bank involves Tim Leissner, the Singapore-based chairman of Goldman’s Southeast Asia operations, who has left that country and relocated to Los Angeles on a leave of absence from the firm.

A state fund — 1Malaysia Development Berhad (1MDB) — was set up with Leissner’s assistance, and Goldman was paid sky-high commissions for bond sales. Then $681 million tied to the fund mysteriously turned up in the bank account of Malaysian Prime Minister Najib Razak.

The FBI reportedly is investigating all the fund’s transactions in concert with wider probes of money-laundering allegations spanning five countries.

These probes could force Goldman to face the wrath of a congressional inquiry, according to one legal expert.

Leissner, 45, who is married to Kimora Lee Simmons, the former wife of hip-hop mogul Russell Simmons, lives a jet-setting lifestyle.

Kimora Lee, a businesswoman, designer and former model, last year opened a fashion boutique on tony Beverly Drive in Los Angeles.

She also has important connections. Kimora Lee is reportedly friendly with Razak’s wife, Rosmah Mansor.

Some of the fund’s transactions illustrate the cozy relationship between Goldman and the government.

Previous research on 1MDB and all the players https://archive.fo/kOfVv