Monday, December 17, 2018

Kimora Lee Simmons' Husband Facing Criminal Charges in Malaysia

Last month Kimora Lee Simmons husband Tim Leissner plead guilty in Brooklyn Federal Court to violating the Foreign Corrupt Practices Act and was ordered to forfeit $43.7 million for his part in a Goldman Sachs Malaysian bond scheme [click here if you missed that].

Now Tim is facing criminal charges in Malaysia...

From The Daily Mail
Malaysia filed criminal charges against Goldman Sachs and two former executives on Monday for their role in the alleged multibillion-dollar ransacking of state investment fund 1MDB.
Attorney General Tommy Thomas said the government is seeking several billion dollars in fines from Goldman Sachs for breaches of securities laws that involved it making false and misleading statements to investors.
He said his office will seek prison sentences of up to 10 years for the former Goldman executives, Roger Ng Chong Hwa and Tim Leissner, who is married to model Kimora Lee Simmons.
Malaysian and U.S. prosecutors allege that bond sales organized by Goldman Sachs for 1MDB provided one of the means for associates of former Malaysian Prime Minister Najib Razak to steal billions over several years from a fund that was ostensibly set up to accelerate Malaysia's economic development.