Leissner Was a Classic Goldman Power Player Before His Fall (1)

One of the most famous rules for bankers inside Goldman Sachs Group Inc. was written decades ago by the late boss John Whitehead: “Important people like to deal with other important people. Are you one?“

Tim Leissner was.

Leissner’s guilty plea to conspiring to launder money and violate foreign bribery laws in the 1MDB corruption case was unsealed Nov. 1. He wasn’t just the firm’s Southeast Asia chair. He embodied the Wall Street alchemy that transforms proximity to power into money.

Kimora Lee Simmons and Tim Leissner

Photographer: Araya Diaz/Getty Images

He was ordered to forfeit $44 million when the Justice Department unveiled charges against him and former deputy ...