![]() ![]() Ng’s defense attorneys have described the looting of $4.5 billion from the 1MDB state investment fund as “perhaps the single largest heist in the history of the world.” But they contend U.S. He was ordered to forfeit $43.7 million as part of his guilty plea and agreed to testify against Ng. ![]() Leissner, 52, pleaded guilty in 2018 to paying millions of dollars in bribes to government officials in Malaysia and Abu Dhabi. The trial will be on a break until Tuesday, when Leissner is expected to resume his testimony. Ng, he added, was “particularly glad he was going to be paid some money” because he felt the firm had undercompensated him over the years. Leissner said he knew that would be illegal, but didn’t care because if the deal went through he would be “a hero” at Goldman Sachs. He also described a dinner in London around 2012 where Low informed he and Eg they would be receiving kickbacks. Whenever asked about Low, Leissner said, “I lied outright and said no, he was not involved.” The spoils even helped finance Hollywood movies, including the 2013 Leonardo DiCaprio film The Wolf of Wall Street.Oscars producers have one main goal: Keep you entertained The embezzlement bankrolled lavish spending on jewels, art, a superyacht and luxury real estate. The 49-year-old has pleaded not guilty to three counts, including conspiring to launder money and violating an anti-bribery law. But the witness made clear he had no direct knowledge that the meeting actually happened.Ī former head of investment banking in Malaysia, Mr Ng is the only Goldman banker to stand trial in the 1MDB scandal. Mr Leissner said Mr Low claimed he had met with Mr Trump’s son-in-law, Jared Kushner, in China to try to broker a deal. Mr Leissner testified on direct examination earlier on Tuesday that once it was becoming clear around 2017 that there was an investigation into 1MDB, Mr Low encouraged him to keep quiet while he sought a financial settlement with the administration of former President Donald Trump to make the case go away. The judge paused the case late last week to give the defence time to review the newly disclosed evidence before it began a cross-examination expected to last well into the week. The trial hit a snag last week with prosecutors’ admission that emails and other documents were mistakenly withheld from defence. He was ordered to forfeit $US43.7 million as part of his guilty plea and agreed to testify against Ng. Mr Leissner, 52, pleaded guilty in 2018 to paying millions of dollars in bribes to government officials in Malaysia and Abu Dhabi. ![]() The defence contends prosecutors are making Mr Ng a scapegoat for “corporate-wide” failures at Goldman that enabled the colossal fraud orchestrated by Mr Leissner and Low Taek Jho, the Malaysian financier and fugitive socialite known as Jho Low. Mr Leissner is testifying against another former Goldman banker, Roger Ng, as part of a plea deal that he and Mr Ng agreed to take tens of millions of dollars in kickbacks as compensation for their roles in a $US4.5 billion ($6.2 billion) scheme to loot 1MDB. “So you were married to two women at the same time?” defence attorney Marc Agnifilo asked. The once high-flying financier admitted that his personal-life lies fit a pattern that dated to the early 2000s, when – while in the middle of seeking a quickie divorce from his first wife without her knowledge – he wed a Goldman colleague. Mr Leissner testified he could not recall the exact conversation that occurred when he showed Ms Simmons the fake divorce papers at his Beverly Hills home in 2014, saying, “I just gave her the document, and that was it.” Tim Leissner and Kimora Lee Simmons Leissner with their son, Wolfe, in 2016. Ms Simmons is a model, reality TV personality and ex-wife of rap mogul Russell Simmons. He did so to dupe his now-estranged wife, Kimora Lee Simmons, into believing he was divorced so she would agree to marry him. In his first day on cross-examination at the trial in federal court in Brooklyn, former Goldman Sachs banker Tim Leissner admitted he forged documents in 2014. New York City | A US trial stemming from an audacious scheme to ransack a Malaysian state investment fund known as 1MBD resumed on Tuesday with a defence lawyer attacking the credibility of the government’s star witness, focusing on his history of lying about his marital status.
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