1MDB Conspirator Enjoys Life In Beverly Hills Amid Probation Questions
The Justice Department has delayed his sentencing until September.
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A former Goldman Sachs partner who admitted to stealing over USD200 million (RM907 million) from Malaysian state-owned investment fund 1Malaysia Development Berhad (1MDB) still operates in elite circles.
According to Whale Hunting, a website by journalists Bradley Hope & Tom Wright, Tim Leissner was recently spotted enjoying fine dining in Beverly Hills, California.
The photo is said to be taken earlier this month when some global business people and other VIPs were in town for the Milken Institute Global Conference at the nearby Beverly Hilton.
The German-born investment banker, who pleaded guilty over four-and-a-half years ago to money laundering and breaking anti-bribery laws, has not yet been sentenced.
Malaysians! You won't believe how a former Goldman partner who stole hundreds of millions of dollars of your money is spending his time…https://t.co/GefqZEN02B— Tom Wright (@TomWrightAsia) May 18, 2023
Boss Walks Free While Former Employee Serves Time
The Justice Department has delayed Leissner’s sentencing until September, and the terms of his probation are not known publicly.
Over the past four years, Leissner has been helping the Justice Department in its case against his former employee, Roger Ng Chong Hwa.
Ng is serving a 10-year sentence for helping Leissner embezzle money, but he is appealing the decision.
The former Goldman Sachs managing director had argued that his time in the Sungai Buloh prison was punishment enough for his crimes.
He pleaded for leniency and no additional jail time during his sentencing on 9 March in the federal court in Brooklyn, New York.
Former Goldman banker Roger Ng files a notice of appeal against his conviction and prison sentence for foreign bribery and money laundering over his role in corruption at 1MDB pic.twitter.com/L0FAbTJ1bG— Samuel Rubenfeld organized a union 🔥 (@srubenfeld) April 5, 2023
All That Glitters Ain’t Gold
Leissner is known for his relationship with reality television star and fashion designer Kimora Lee-Simmons.
Simmons claimed that shares worth around USD93 million (RM422 million) that Leissner was ordered to forfeit belonged to her.
She has asked a federal judge in Brooklyn to hold a hearing to establish her ownership of the shares.
Simmons said she purchased the shares with money earned from her modelling career and clothing line.
She added that Leissner did not contribute funds to purchasing the shares, nor did he own them.
During Ng’s trial, Leissner admitted that he had married Simmons while still legally married to another woman.
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