Kriminal Koin: Kimora Lee Simmons’ Husband Pleads Guilty In Billion Dollar Laundering Case

- By Bossip Staff

(Photo by Randy Brooke/WireImage)

Kimora Lee Simmons‘ husband Tim Leissner has plead guilty to criminal charges related to the disappearance of billions of dollars from a Malaysian sovereign wealth fund.

WWD reports:

Tim Leissner was chairman of Goldman Sachs’ Southeast Asia business, but he resigned in 2016 and was subsequently subpoenaed by the U.S. Justice Department as part of a probe into the disappearance of billions of dollars from a Malaysian sovereign wealth fund 1MDB that was designed to boost the country’s economy and for which he helped raise money.

Leissner pleaded guilty to conspiracy to launder money and violate foreign anti-bribery laws, allegedly bribing officials in Malaysia and Abu Dhabi. He has been ordered to forfeit $43.7 million, according to court filings. Ng, a managing director at the investment bank until 2014, was arrested this week in Malaysia, while Low is on the run.

Neither Kimora or Tim have spoken out about the charges.

More Stories From Bossip

Comments

Bossip Comment Policy
Please read our Comment Policy before commenting.