(Adds details of orders against other individuals, MAS's
SINGAPORE, March 13 The Monetary Authority of
Singapore (MAS) issued a 10-year prohibition order on Monday
against Tim Leissner, former Southeast Asia chairman at Goldman
Sachs, who it said had made false statements on behalf of his
bank without its knowledge or consent.
Leissner was responsible for managing the relationship with
Malaysia's 1MDB fund when Goldman Sachs was engaged to arrange
three bond issues from 2012 to 2013. MAS had flagged its
intention to ban Leissner last December.
"MAS will not tolerate conduct by any finance professional
that threatens to undermine trust and confidence in Singapore's
financial system. MAS will not hesitate to bar such individuals
from carrying out regulated activities in the financial
industry," Ong Chong Tee, deputy managing director of financial
supervision at MAS said in a statement.
Under the order, Leissner is prohibited for 10 years from
performing any regulated activity under the Securities and
Futures Act and taking part, directly or indirectly, in the
management of any capital market services firm in Singapore.
There was no immediate response to a request for comment
from Leissner's lawyer, Marc Harris of Scheper Kim & Harris LLP,
outside of normal U.S. business hours.
Last year, the central bank ordered Swiss banks Falcon
Private Bank and BSI Bank to cease operations in Singapore, in
its biggest crackdown on alleged money-laundering activities
connected with 1MDB.
1MDB has denied any wrongdoing.
MAS also said on Monday that it had served notice of its
intention to issue prohibition orders against Jens Fred
Sturzenegger, former Singapore branch manager of Falcon Private
Bank, and Yak Yew Chee and Yvonne Seah Yew Foong, former
employees of BSI Bank, who were convicted by Singapore courts
for their involvement in 1MDB-related breaches.
Yak's lawyer Lee Teck Leng said his client respected MAS's
decision. There was no immediate response from Seah's lawyer,
while Sturzenegger's lawyer declined to comment.
(Reporting by Anshuman Daga; Additional reporting by Masayuki
Kitano and Fathin Ungku; Editing by Neil Fullick)