Tim Raisner, a former partner at Goldman Sachs, who has admitted to his involvement in the 1MDB bribery scandal, is reportedly the subject of an extradition request by Malaysia.
Last August, the Southeast Asian nation made an official request to the Department of Justice for Raisner’s extradition. This was confirmed in documents reviewed by the Wall Street Journal.
In November, an Interpol Red Notice was issued against him, making him vulnerable to international arrest.
Raisner, who was previously married to fashion entrepreneur Kimora Lee Simmons—known for her Babyfat clothing line—married her in 2014 and they share a son. However, it appears they no longer live together.
During a trial in the United States in 2022, Raisner admitted to fraudulently preparing divorce documents from his ex-wife, Judy Chan, to facilitate his marriage to Simmons. He also testified that he was pressured by someone with ties to the Paramar family to purchase a $10 million home.
In 2018, Raisner revealed that he received illegal payments between $50 million and $60 million as part of the 1MDB scheme. U.S. prosecutors emphasize that over $4.5 billion was misappropriated by state-run development agencies, with much of it linked to significant bribery involving Malaysian and Middle Eastern officials.
While involved with Goldman Sachs, Raisner allegedly utilized misappropriated funds to lead a life of luxury, indulging in opulent real estate, expensive gifts, and lavish travel. Conflicts even arose with Simmons over finances; she accused him of transferring millions to his investment account without her knowledge.
Despite pleading guilty in 2018, Raisner’s sentencing has faced multiple delays, and he remains in the U.S., cooperating with investigators. Malaysian officials are keen on pursuing justice for the billions reportedly siphoned from 1MDB.
The scandal has also spurred a manhunt for fugitive Jho Low, accused of orchestrating extensive theft while compromising Malaysia’s then-Prime Minister.
Goldman Sachs had facilitated three bond offerings for 1MDB, totaling $6.5 billion between 2012 and 2013. What was intended to bolster Malaysia’s economy turned into a scheme that saw much of that money misappropriated, amidst allegations of bribery involving Raisner and his colleague Roger Ng.
Low has gained notoriety for his extravagant spending of ill-gotten gains on luxury properties, art, and even financing the film “The Wolf of Wall Street.” Despite numerous legal challenges, he remains a wanted fugitive.
Malaysia is determined to secure Raisner’s extradition from the U.S. to avoid complicating his potential transfer to Germany, which would present additional hurdles.
According to Interpol, Raisner faces violations of Malaysia’s capital markets laws, which could result in a decade behind bars. Goldman Sachs had parted ways with him in 2016, and the bank has reportedly provided authorities with information about Raisner’s activities.
In 2020, Goldman reached a settlement with Malaysia, committing to a $2.5 billion cash payment and a guarantee, along with recovering an additional $1.4 billion in misappropriated assets. However, Raisner and Ng were excluded from this agreement.
Malaysia’s current Prime Minister, Anwar Ibrahim, has sought to re-evaluate this settlement, aiming for additional compensation from Goldman Sachs. A representative for Goldman stated that a conclusive settlement was achieved almost five years ago.
Meanwhile, Malaysian investigators continue working with Ng, who was convicted in the U.S. and sentenced to ten years for his involvement, to gather further insights into Raisner’s actions and Goldman Sachs’ role in the scandal.
The Department of Justice anticipates that Malaysia will eventually request Ng’s return to serve his sentence in the U.S. once domestic legal proceedings are completed.
