#Judy chan and tim leissner trial#

Smith repeatedly asked Lim why, despite her training as a corporate lawyer, she did not press for documents or keep records. 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. Under cross-examination by Assistant U.S. read moreīut prosecutors say that money represented kickbacks Leissner paid to Ng from the 1MDB scheme. Lim said she received around $35 million as a return on that investment in 20. Hwee Bin Lim, Ng's wife, testified on Monday that she made a $6 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.

#Judy chan and tim leissner trial#

prosecutors on Tuesday sought to cast doubt on the testimony of the wife of a former Goldman Sachs (GS.N) banker, who is on trial over allegations he helped loot Malaysia's 1MDB sovereign wealth fund. “I think she did some research on the Internet and found out I was trying to buy this house.NEW YORK, March 29 (Reuters) - U.S. Instead, Leissner said he faked an email claiming Low needed money. Leissner said Chan wasn’t as forgiving, In 2014, he wanted to put a $900,000 down payment on a home in Los Angeles for Simmons but said, “Judy did not want to make any transfers related to my new family life in Los Angeles.” “Did Kimora Lee Simmons know that?” Rolle asked. “Did Judy Chan know?” asked prosecutor Drew Rolle. “I photoshopped the divorce document,” he said of his 2014 marriage to Simmons, a fashion designer. He also told jurors he’d earlier falsified a divorce document in order to marry Judy Chan in Hong Kong in about 2000.

He said he “faked” a divorce decree in order to marry Simmons while still being married to then-wife, Judy Chan Leissner. On Thursday, Leissner also confessed he was twice married to two women at the same time.

Leissner is expected to resume his testimony Feb. Ng, 49, has pleaded not guilty and his trial is expected to last as long as six weeks. While authorities have scrutinized Tan’s potential role in the 1MDB scandal, she hasn’t been accused of wrongdoing. Article contentĪ Goldman representative declined to comment, as did a representative for Tan. This advertisement has not loaded yet, but your article continues below. with the hope of getting a more lenient sentence.

anti-bribery laws, and agreed to cooperate with the U.S. Leissner pleaded guilty in 2018 to conspiring to violate U.S. Ng is accused of a money-laundering conspiracy and bribery stemming from the scam at 1Malaysia Development Bhd. “I had the intention to pay him back over time but I didn’t have a chance,” he told the jury. Leissner said his arrest in 2018 prevented him from repaying Ng any of the money. He said he then borrowed another $1.25 million from Ng, his subordinate at Goldman. Because much of his money was invested in illiquid assets, Leissner told the jury he kept $80 million for himself. When Malaysian financier Jho Low, the alleged architect of the massive fraud, asked Leissner to “hold” 145 million Euros ($162 million) in a shell company in Mauritius, Leissner saw an opportunity. The next issue of Financial Post Top Stories will soon be in your inbox. If you don't see it, please check your junk folder.