Ex-Goldman Banker Leissner Reports to Prison for 1MDB Sentence

Former Goldman Sachs Group Inc. banker Tim Leissner reported to federal prison to begin serving a two-year sentence for one of the largest financial frauds in history.

Leissner surrendered himself Friday at a federal correctional facility in Allenwood, Pennsylvania, his lawyer Henry Mazurek said. His incarceration comes eight years after he pleaded guilty to helping embezzle $4.5 billion from Malaysia’s 1MDB sovereign wealth fund.

The fraud toppled the Malaysian government and resulted in Goldman paying more than $5 billion to settle alleged misconduct claims.

The German-born Leissner, 56, admitted early on to participating in a scheme led by Malaysian financier ...