Goldman Sachs' Malaysian err

So I have had my reporters digging into a scandal involving a Goldman Sachs chief and the Malaysian prime minister and would ultimately add up to a $4 billion money laundering scheme.

The bombshell case involves Tim Leissner, 45, Goldman’s chairman for Southeast Asia, who recently left the country and moved to Los Angeles to take a personal leave.

He’s married to the glamorous businesswoman and former model Kimora Lee Simmons, ex-wife of hip-hop mogul Russell Simmons.

What is known at this time is that Leissner and Goldman Sachs set up this Malaysian state fund called 1Malaysia Development Bhd (1MDb) with the Malaysian Prime Minister Najib Razak.

Also $681 million tied to the fund mysteriously turned up in the bank account of Razak. Soon thereafter Leissner took his leave.

All government investigations have found no guilty parties as to the money transfer or its use as a slush fund for Razak.

Our reporting turned up a friendship between Kimora Lee Simmons and the Razak’s wife Rosmah Mansor.

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

The sum of three bond sales for 1MDB back in 2012 and 2013, totaling as much as $6.5 billion, reportedly yielded fees, commissions and expenses for Goldman of almost $593 million, the equivalent of 9.1 percent of the money raised. The typical cut for an investment bank is about 5 percent.

A lengthy Wall Street Journal story on Tuesday laid out the frustration of Malaysian police officials in getting to the bottom of this investigations, yet neglected to mention Goldman or Leissner in the story.

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