#JUDY CHAN AND TIM LEISSNER TRIAL#

Prosecutors say Roger Ng, Goldman's former top investment banker for Malaysia, helped his then-boss Tim Leissner embezzle money from the fund, launder the proceeds and bribe officials to win business for Goldman.

#JUDY CHAN AND TIM LEISSNER TRIAL#

trial of a former Goldman Sachs banker accused of helping loot hundreds of millions of dollars from Malaysia's 1MDB development fund. He allegedly orchestrated the scheme of paying bribes and kickbacks to officials in Malaysia and Abu Dhabi.Įarlier this week, Leissner testified that he had multiple affairs, including one with a lover who blackmailed him in order to get him to pay for a $10 million mansion.NEW YORK : Closing arguments are set to begin on Monday in the U.S. Low, the alleged mastermind of the fraud, is now a fugitive from the law. He testified that he personally pocketed $60 million in bribes and then kept another $80 million that Low asked him to “hold” in an off-shore shell company. He said he pocketed tens of millions of dollars to fund a lavish lifestyle. Leissner has pleaded guilty to his involvement in the 1MDB embezzlement scandal. Ng has pled not guilty.ĭuring his fourth day on the witness stand on Thursday, Leissner told the jury about his scandalous personal life and lavish lifestyle that was largely funded by money that he allegedly helped steal from 1MDB. Leissner has pled guilty and is cooperating with federal prosecutors in hopes of getting a lighter prison sentence. The two men were arrested and charged with helping Malaysian financier Jho Low steal hundreds of millions of dollars from the 1MDB sovereign development fund. Leissner told the jury that before marrying Judy Chan, he falsified a divorce document “I think she did some research on the Internet and found out I was trying to buy this house.” Leissner testified that he wed Simmons even though he was still legally married to Judy Chan Leissner. Leissner then tried to get Judy Chan to transfer him the money by claiming that it was for Malaysian financier Jho Low, the fugitive who is wanted for his alleged role in masterminding the 1MDB scheme, he claimed. “Judy did not want to make any transfers related to my new family life in Los Angeles,” Leissner testified.

In 2014, Leissner tied the knot with Simmons, the fashion designer ex-wife of hip hop mogul Russell Simmons. When prosecutor Drew Rolle asked Leissner if Judy Chan Leissner knew of this, he replied that she was upset - so upset that she refused to help him put a $900,000 down payment on a house in Los Angeles for him and his new bride. “I photoshopped the divorce document,” Leissner told the jury of his 2014 nuptials to the Baby Phat designer.

Leissner testified that he tied the knot with Kimora Lee Simmons even though he was still legally married to Judy Chan Leissner, from whom he “faked” a divorce, according to Bloomberg. Tim Leissner admitted in court on Thursday that he “faked” a divorce in order to marry former fashion model Kimora Lee Simmons. Simmons, the reality television star, fashion designer, and ex-wife of hip hop mogul Russell Simmons, married the German-born investment banker in 2014. The 52-year-old former Goldman Sachs star banker made the stunning admission while testifying in Brooklyn federal court on Thursday during the bribery trial of his former Goldman colleague, Roger Ng. Tim Leissner claimed in court that he twice “faked” his divorce from two women in order to re-marry and that he exchanged vows with former model Kimora Lee Simmons while still legally wed to his previous spouse.

Judy chan and tim leissner