The Monetary Authority of Singapore (MAS) issued a 10-year prohibition order on Monday against Tim Leissner, a former director of Goldman Sachs (Singapore) Pte, who it said had made false statements on behalf of his bank without its knowledge or consent.
SINGAPORE The Monetary Authority of Singapore (MAS) issued a 10-year prohibition order on Monday against Tim Leissner, a former director of Goldman Sachs (Singapore) Pte, who it said had made false statements on behalf of his bank without its knowledge or consent.
Banker Leissner was responsible for managing the relationship with Malaysia’s 1MDB fund when Goldman Sachs was engaged by the fund to arrange three bond issues from 2012 to 2013. In December 2016, MAS had flagged its intention to issue a prohibition order against Leissner.
In a statement on Monday, MAS said Leissner will be prohibited for 10 years from performing any regulated activity under the Securities and Futures Act and taking part, directly or indirectly, in the management of any capital market services firm in Singapore.
In December, Leissner’s lawyer Marc Harris from Scheper Kim & Harris LLP had said in a statement that Leissner will accede to a request by MAS to respond to the allegations.
MAS said it also served notice of its intention to file prohibition orders against three individuals who were convicted by the city-state’s courts for their involvement in 1MDB-related breaches.
(Reporting by Anshuman Daga and Masayuki Kitano- Editing by Neil Fullick)
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