#Judy chan and tim leissner trial

prosecutors say $4.5 billion of the $6.5 billion Goldman raised for 1MDB was diverted to government officials, bankers and their associates through bribes and kickbacks. The charges stem from one of the biggest financial scandals in history, in which U.S. Leissner, who in 2018 pleaded guilty to similar charges, testified in February that the investment Lim made in Chan's Chinese business was a 'cover story' that he and Ng concocted to explain the kickback payment so that the banks processing the funds would not grow suspicious. 'It had to come from Judy and her family,' Lim said.Ī lawyer for Chan did not immediately respond to a request for comment. When asked by Ng's lawyer Marc Agnifilo if the money Chan said she would send to Lim came from 1MDB, Lim replied, 'Not at all.' In 2012, Chan told her she was ready to transfer $26 million, Lim testified. Lim said she and Chan had a falling out in 2011, and Chan told her to divest her share, which had appreciated substantially. Lim's testimony came on the second day of the defense's case in the trial, which began in early February. Ng's wife, Hwee Bin Lim, testified on Monday that shortly after Ng began working for Leissner in the mid-2000s, she invested 48 million yuan - about $6 million at the time - at a Chinese company owned by the family of Leissner's wife, Judy Chan. He argues that some $35 million he received from Leissner, which prosecutors characterize as kickbacks from the scheme, was actually the proceeds of a legitimate business venture between the two men's wives. Prosecutors say he helped his former boss Tim Leissner embezzle money from 1MDB, launder the proceeds and bribe officials to win business for Goldman. Ng, Goldman's former chief for Malaysia, is charged with conspiring to launder money and violate an anti-corruption law.

#Judy chan and tim leissner trial

trial over the looting of hundreds of millions of dollars from Malaysia's 1MDB sovereign wealth fund between 20.

Ng and Lim concocted a 'cover story' involving Lim and Leissners then-wife, Judy Chan, to justify the 35 million. Leissner, who was billed as a 'hip hop banker,' ultimately pleaded guilty to doing so, agreed to forfeit more than $40 million in assets, and was barred from working in the banking industry again by the Securities and Exchange Commission.NEW YORK, March 28 (Reuters) - The wife of former Goldman Sachs (GS.N) banker Roger Ng on Monday testified in her husband's defense at a U.S. NEW YORK, March 1 (Reuters) - Former Goldman Sachs banker Tim Leissner, the. In 2018, Leissner ' ransacked' a Malaysian development fund set aside by his employer, Goldman Sachs, of which he headed up the Asian division. While Leissner bills himself as a Goldman Sachs executive, the reality is he has more than a bit of a shady past. What seems to be strange about this whole alleged affair is that there are no photos of Leissner 'canoodling' this mystery woman - all there is is conjecture on the part of the 'source.' 2. The source said that Leissner was ' canoodling ' with the woman and shortly thereafter, had an impassioned FaceTime chat with his wife. Leissner also admitted he had previously forged divorce papers in order to marry Goldman Sachs analyst Judy Chan while still married to his first wife in 2000.

Is Tim Leissner cheating on Kimora Lee Simmons? He was spotted with a 'mystery woman.'Īccording to an ever-reliable 'source' close to Leissner and Simmons, Leissner was reportedly spotted out with a 'mystery woman' in New York City not long ago. Kimora Lee Simmons ‘ estranged husband Tim Leissne r, a. Let's look at what we know about the infidelity allegations: 1. Tim Leissner admitted on the stand that he faked his divorce from his previous wife, Judy Chan Leissner, to marry Simmons.