 Beginning in 2016, Goldman was investigated for a $3 billion bond created by the bank for 1MDB.Prosecutors investigated whether the bank failed to comply with the U.S. Bank Secrecy Act, which requires financial institutions to report suspicious transactions to regulators.In November 2018, Goldman's former chairman of Southeast Asia, Tim Leissner, admitted that more than US$200 million in proceeds from 1MDB bonds went into the accounts controlled by him and a relative.