Two major financial misconduct cases sent ripples through international institutions this week, as former Goldman Sachs banker Tim Leissner was sentenced in the U.S. for his role in the 1MDB scandal, while Slovakia’s central bank governor Peter Kažimír was convicted of bribery in a Bratislava court. Both developments were first reported by the Financial Times.
In New York, Leissner received a two-year prison sentence for helping divert billions from Malaysia’s sovereign wealth fund, 1MDB, in one of the largest global financial scandals in decades. Facing up to 25 years, the former Goldman executive expressed deep remorse, telling the court he acted “very wrong.” His cooperation with U.S. prosecutors—including testimony against former colleague Roger Ng—helped reduce his sentence.
Leissner admitted to using some $60 million of the stolen funds on luxury items, including a 170-foot yacht, real estate in London and New York, and a stake in Italian football club Inter Milan. Goldman Sachs, which paid nearly $3 billion in penalties, said Leissner has yet to repay a $20.7 million award the firm secured against him in 2023.
Meanwhile, in Slovakia, Peter Kažimír, a member of the European Central Bank’s governing council and former finance minister, was fined €200,000 for his role in a bribery case involving a senior tax official. Though he avoided immediate jail time, the court ruled he would face a one-year sentence if the fine is not paid. Kažimír is appealing the conviction.
Despite the ruling, Kažimír is expected to continue in his role as central bank governor, even as his current term nears its end. The Financial Times reported that the politically charged case nearly collapsed last year due to legislative changes pushed by Prime Minister Robert Fico’s government, but was revived under EU financial harm provisions.
The two cases—separated by geography but united by theme—highlight ongoing challenges in combating financial corruption at the highest levels of power, from Wall Street to the heart of the eurozone.
