Ex-Goldman Sachs banker Roger Ng exits the United States Courthouse in Brooklyn, New York, US, on Feb 16, 2022.NEW YORK - Former Goldman Sachs banker Tim Leissner, the prosecution's star witness in a criminal trial tied to Malaysia's 1MDB sovereign wealth fund, admitted under cross-examination on Tuesday that he had "lied a lot" in his life.
Leissner, 52, who was Ng's boss at Goldman, pleaded guilty to similar charges in 2018 and agreed to co-operate with the government. The charges stem from one of the biggest financial scandals in history. Prosecutors say Goldman from 2009 to 2014 raised US$6.5 billion for 1MDB through bond sales and earned US$600 million in fees, but that US$4.5 billion was diverted to officials, bankers and their associates through bribes and kickbacks.
At the end of the meeting, Leissner said he, Ng and Lim concocted a "cover story" involving Lim and Leissner's then-wife, Judy Chan, to justify the US$35 million in funds. read more
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