Tim Reisner, a former Goldman Sachs banker linked to the infamous 1MDB scandal, is reportedly seeking a pardon from President Trump to escape a two-year federal prison sentence. This scandal is considered one of the largest financial crimes in history.
Last year, Reisner submitted a clemency request to the Justice Department, as noted on their website. Bloomberg initially reported on this filing.
He is set to be sentenced in a federal prison in Southern California next month.
Reisner’s appeal for clemency comes on the heels of other high-profile figures seeking similar relief, including Elizabeth Holmes, the founder of Theranos, and Bill Hwang, founder of Archegos Capital Management, both of whom were convicted of stealing substantial amounts of money.
Recently, Trump pardoned over 20 individuals, some of whom were convicted of white-collar offenses, which has sparked criticism.
Goldman Sachs has not responded to inquiries regarding this situation.
Reisner, who previously served as Goldman’s chairman for Southeast Asia, pled guilty to conspiracy charges in 2018, admitting to his involvement in a scheme that pilfered $4.5 billion from Malaysia’s sovereign wealth fund, 1Malaysia Development Bhd.
He was a key witness during a trial in 2022, working with U.S. authorities to provide details about his ex-colleague Roger Ng—who received a 10-year prison sentence—and Jho Low, the purported architect of the fraud.
At his May sentencing, Reisner implored the court for mercy, stating that the crime had already cost him his career, marriage, and precious time with his children.
His legal team emphasized his significant contributions to Ng’s conviction and noted that Reisner faced threats and personal attacks following his cooperation.
“If I could go back in time, I wouldn’t hesitate to do so,” an emotional Reisner remarked during the hearing. “Unfortunately, that’s not possible.”
U.S. District Judge Margo Brody sentenced him to two years in federal prison, asserting that his cooperation did not adequately make amends for the destruction he caused.
The 1MDB scandal ultimately destabilized the Malaysian government, spurred investigations across six countries, and resulted in billions in fines for Goldman Sachs. Jho Low remains at large.
It’s alleged that the misappropriated funds were used to bribe officials in Malaysia and Abu Dhabi, finance extravagant lifestyles, and even fund Martin Scorsese’s 2013 film, The Wolf of Wall Street.
Reisner reportedly received over $50 million in kickbacks. His personal life was also scrutinized, particularly the end of his marriage to fashion designer Kimora Lee Simmons.
During the trial, he confessed to deceiving colleagues, setting up fake emails, and falsifying documentation, including a fabricated divorce decree that he presented to Simmons as proof of his separation from his ex-wife.
