Reported by Better Markets

Dennis Kelleher, Cofounder, President, and CEO of Better Markets, issued the following statement on the sentencing of Tim Leissner, scheduled for this Thursday, May 29th, and the release of the attached “Memo to Interested Parties” that Better Markets is issuing today:

“Goldman Sachs, via partner and senior executive Tim Leissner and at least 30 other executives and supervisors, was at the core of the global looting and money-laundering scandal known as ‘1MDB,’ described as ‘one of the greatest financial heists in history.’ While Goldman pleaded guilty to a criminal charge years ago, Leissner is scheduled to be sentenced Thursday for his central role in orchestrating and leading Goldman’s participation in the years-long criminal activities. That sentence, as discussed in the memo, should include significant prison time as well as additional financial sanctions to ensure Leissner keeps none of the tens of millions of dollars in ill-gotten gains he received.  This sentencing also needs to send a vital deterrence message to Wall Street financiers and others who think of engaging in complex financial crimes: It’s not worth the punishment.”

Read full report: https://bettermarkets.org/newsroom/goldman-sachs-partner-tim-leissner-to-be-sentenced-thursday-in-1mdb-global-crime-spree-deserves-prison-and-more/