SEC permanently bars ex-Goldman banker over 1MDB bribery

US regulators said Monday they had permanently barred a former Goldman Sachs executive from the securities industry over bribery in Malaysia's 1MDB scandal.

The settlement comes more than a year after Tim Leissner admitted bribery and money laundering conspiracy charges related to the case, which rocked the Malaysian political scene and the giant Wall Street bank.

"Leissner abused his leadership role at Goldman Sachs by engaging in a massive bribery scheme targeting the highest levels of two foreign governments in order to bring in lucrative business to the firm and enrich himself," Charles Cain, head of the SEC's foreign bribery unit, said in a statement.

As part of the settlement Leissner will also surrender $43.7 million in ill-gotten gains.