HONG KONG: Hong Kong’s financial regulator has banned former Goldman Sachs banker Tim Leissner from re-entering the industry for life for his crimes linked to the multi-billion-dollar scandal at the Malaysian state investment fund 1MDB.
The sanction is latest for Leissner who has already been barred from the banking sector in the United States and Singapore for his links to the scandal. Goldman itself is being probed by the US Justice Department for its role as underwriter and arranger for $6.5 billion worth of 1MDB bonds.
Apart from Leissner, another former Goldman banker Roger Ng and Malaysian financier Low Taek Jho have been charged in the United States for links to the alleged theft of billions of dollars from the Malaysian sovereign wealth fund.
An estimated $4.5 billion was misappropriated from 1MDB by high-level officials of the fund and their associates between 2009 and 2014, the US Justice Department has alleged.
Leissner, a former partner at Goldman Sachs in Asia, pleaded guilty last August to conspiracy to launder money and conspiracy to violate the Foreign Corrupt Practices Act and agreed to forfeit $43.7 million.
Hong Kong’s Securities and Futures Commission (SFC) said it considered Leissner’s conduct demonstrated “a serious lack of honesty and integrity” and called into question his fitness and properness to be a licensed person.
A Goldman Sachs spokesman said Leissner deliberately hid certain activities from the bank and repeatedly violated its policies and procedures.
“We continue to cooperate with all authorities looking into these matters,” he said.
A lawyer for Leissner could not be immediately reached in the United States outside of usual business hours.
Leissner was licensed under Hong Kong’s Securities and Futures Ordinance for activities including advising on securities and corporate finance for Goldman Sachs between April 1, 1998 and Feb. 24, 2016, the SFC statement said.
He is currently not licensed by the SFC, it added.
In March, the US Federal Reserve barred Leissner and Ng from the banking industry for their involvement in “a scheme that illegally diverts billions of dollars from a Malaysian sovereign wealth fund.”
Singapore’s central bank had also issued a lifetime prohibition order against Leissner in December last year, upgrading a 2017 10-year prohibition order against him.
At least six countries, including Malaysia, which has also filed charges against Goldman and its two former bankers, the United States and Switzerland, have been investigating the alleged thefts from 1MDB.
Hong Kong regulator bans former Goldman banker Tim Leissner for life over 1MDB scandal
Hong Kong regulator bans former Goldman banker Tim Leissner for life over 1MDB scandal
- Tim Leissner has already been barred from the banking sector in the United States and Singapore
- An estimated $4.5 billion was misappropriated from 1MDB by high-level officials of the fund and their associates between 2009 and 2014
King Abdulaziz Airport among world’s busiest after record-breaking 2025
RIYADH: King Abdulaziz International Airport has achieved a new historical milestone, reaching 53.4 million passengers in a single year.
This is the highest number ever recorded at a Saudi airport since the beginning of air travel in the Kingdom, placing it among the world’s mega airports in terms of passenger traffic, according to the Saudi Press Agency.
The airport handled a total of 310,000 flights and 60.4 million bags, representing a 12 percent increase compared to 2024. It also handled 9.57 million Zamzam water containers and 2,968 cargo flights.
This achievement reflects the airport’s qualitative transformation and its position as a regional hub and national gateway connecting the Kingdom to the world. It also highlights its role in facilitating the movement of visitors and pilgrims, promoting tourism in line with the goals of Vision 2030, diversifying the economy, and providing a distinguished travel experience.
For his part, CEO of Jeddah Airports Co. Mazen Johar, affirmed that reaching 53.4 million passengers confirms the airport’s high operational readiness and represents a pivotal milestone for moving to the next phase, in preparation for doubling this number, God willing, in the coming years.
He pointed out that this national achievement would not have been possible without the grace of God Almighty, followed by the directives of the wise leadership and the continuous follow-up from the minister of transport and logistics, the president of the General Authority of Civil Aviation, and the CEO of Airports Holding Co.
He explained that King Abdulaziz International Airport is strengthening its position as a major aviation hub in the region through expansions, increased capacity, and improved services, supporting the objectives of the aviation program and aligning with the goals of the Kingdom’s Vision 2030.
The CEO of Jeddah Airports Co. expressed his gratitude to the partners in success from various government and private sectors for their fruitful cooperation through a collaborative work system that contributed to providing the best services.
