![]() ![]() According to TMZ, Leissner admitted to hatching up a plan to impersonate his then-wife Judy Chan, a Chinese heiress, and sent fake emails to the Baby Phat co-founder. Goldman in 2020 paid a nearly $3 billion fine and arranged for its Malaysian unit to plead guilty in US court. Tim Leissner testified in court that he pretended to be his ex-wife for years online to convince Lee that he was a single man. The charges stem from one of the biggest financial scandals in history, in which US prosecutors say $4.5 billion of the $6.5 billion Goldman raised for 1MDB and meant for the economic development of Malaysia was instead diverted to government officials, bankers and their associates through bribes and kickbacks.ĪLSO READ: Ex-Goldman banker testifies at 1MDB trial that he 'lied a lot,' misled women She said she invested 6 million in the mid-2000s in a Chinese company owned by the family of Leissners then-wife, Judy Chan, and that the 35 million was her return on that investment. Leissner, who pleaded guilty to similar charges as Ng in 2018, testified last month that the investment involving the two men's wives was a "cover story" to explain the kickback payments so the banks that would process the transfer would not grow suspicious. "For investment in China there's no point for you to have documents," Lim said. Smith repeatedly asked Lim why, despite her training as a corporate lawyer, she did not press for documents or keep records. At the time Leissner married Simmons, he was still married to his ex-wife, Judy Chan. In February 2022, it was revealed that Leissner and Simmons were estranged from each other, though it is not exactly clear when the couple split. They have one child together, a son, born in 2015. Under cross-examination by Assistant US Attorney Alixandra Smith on Tuesday, Lim said she was no longer in possession of a two-page agreement she signed with Chan describing the deal and had no written updates on investment performance. In 2014, Leissner married Kimora Lee Simmons. Lim said she received around $35 million as a return on that investment in 20.īut prosecutors say that money represented kickbacks Leissner paid to Ng from the 1MDB scheme. Bloomberg -, 2:20pm Tim Leissner says he posed as his former wife, Judy Chan, for years to converse with his girlfriend at the time, Kimora Lee Simmons. Hwee Bin Lim, Ng's wife, testified on Monday that she made a $6 million (S$8 million) investment in the mid-2000s in a Chinese company owned by the family of Judy Chan, Leissner's then-wife. ![]() ![]() Prosecutors say he helped his former boss Tim Leissner embezzle money from 1MDB development fund, launder the proceeds and bribe officials to win business for Goldman. Roger Ng, Goldman's former chief for Malaysia, is charged with conspiring to launder money and violate an anti-corruption law. Russell Simmons Was Ordered to Pay Ex-wife Kimora Lee 100k Months Before Daughters Accusation of. NEW YORK - US prosecutors on Tuesday (March 29) sought to cast doubt on the testimony of the wife of a former Goldman Sachs banker, who is on trial over allegations he helped loot Malaysia's 1MDB sovereign wealth fund. first to a former analyst at Goldman Sachs named Judy Chan. ![]()
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