Former Goldman Sachs banker Tim Leissner has testified that he and his then-colleague Roger Ng did not receive kickbacks from the third bond they raised for 1MDB worth US$3 billion, despite having collected millions in kickbacks from the two previous bonds raised.

Leissner said Low Taek Jho, known as Jho Low, had informed him that this is because the money from the third bond – referred to as Project Catalyze – was to be utilised for the upcoming general election at that time in 2013.

He revealed this while testifying as a star witness in the trial against Ng on Feb 24, 2022 in New York...