The wife of Tim Leissner, who pled guilty and forfeited $43 million, has remained mute following the juicy admissions made by the 1MDB conman before a New York court.
Kimora Lee Simmons, Leissner’s wife, had previously slammed the media for claiming she had received monies from her husband.
Leissner was already embroiled in the 1MDB affair, with his name appearing in several press stories and inquiry documents at the time.
Tim Leissner, a former Goldman Sachs Group Inc banker, is accused of stealing hundreds of millions of dollars from Malaysian wealth fund 1MDB.
Now we are told he also stole tens of millions of dollars from his fraud collaborators.
If that is not enough, he also falsified divorce documents and even attempted to dupe his ex-wife into transferring US$900,000 for a property he planned to buy for his then-new wife, American model Kimora Lee Simmons.
In 2017, a report in Page Six said it was widely assumed that Leissner funded the Kimora Lee’s brand’s inception.
Not unexpectedly, Kimora Lee reacted angrily to The New York Post’s news that her iconic fashion line is the subject of a corruption investigation.
Refuting the allegations, Simmons said of her entry-level designer label did not use any funds from Leissner.
“I’ve been around for quite some time. I’m an old lady so I’ve always been self-sustaining, self-funded. I’ve had Baby Phat and at one point Phat Farm, too.
“I’ve had Couture by Kimora, Fabulosity, KLS so this is not my first ride at the rodeo. I’ve had six or seven successful fragrances,” she said.
“I fund my own business.… I’ve been in the fashion industry since [age] 12, modeling and all that. So all my money, not that I want to say it that way, this is my third marriage that I’m on so, no, my husband has nothing to do with my professional life.”
Fresh Claims By Leissner
One of the bankers testified last week in the corruption trial of the other, Roger Ng, that two Goldman Sachs bankers created a plan involving their spouses to conceal payments they got for assisting in the looting of 1MDB.
Tim Leissner, Ng’s supervisor at Goldman before becoming the star government witness against him, testified that he got kickback payments from fugitive financier Low Taek Jho, or Jho Low, for assisting in the embezzlement of monies generated for 1MDB through three bond sales.
Leissner, 52, who has pleaded guilty to money laundering and corruption charges, claimed he got US$35 million from Low following the initial bond sale in 2012 and transferred half of it to Ng.
Both then discussed creating a “cover narrative” to explain the transfers so that the institutions handling the cash would not get suspicious. That is how they used their wives as cover-up to explain some of the money transfers.