Kimora Lee-Simmons’ Ex-Husband Tim Leissner Sentenced To 2 Years In Prison For Role In $2.7 Billion Fraud Scandal Tied To Bribes, Kickbacks & Lavish Spending

Disgraced former Goldman Sachs banker Tim Leissner was sentenced Thursday to two years in prison for his central role in the multibillion-dollar 1MDB corruption scheme.

via: The Source

Leissner, a former Goldman Sachs banker, admitted in 2018 to conspiracy charges related to the infamous 1MDB scandal, in which over $2.7 billion was siphoned from Malaysia’s sovereign wealth fund, 1Malaysia Development Berhad. He received more than $50 million in kickbacks while helping orchestrate the elaborate global bribery scheme alongside fellow banker Roger Ng and Malaysian financier Jho Low.

The massive fraud not only resulted in billions in penalties for Goldman Sachs but also exposed Leissner’s misconduct. In addition to deceiving international financial institutions and government entities, Leissner admitted to creating fake email accounts and forging documents, including lies about his marital status to Kimora Lee Simmons.

Funds from the scheme were used to finance a luxurious lifestyle, including investments in fine art, high-end real estate, and even Hollywood productions like The Wolf of Wall Street.

During his sentencing in Brooklyn federal court, Leissner appeared remorseful, acknowledging that his actions cost him his career, his marriage, and precious time with his children. He had requested leniency and asked to avoid jail time altogether, citing his cooperation with the government.

Judge Margo Brodie acknowledged Leissner’s assistance in the investigation but ruled that the magnitude of the damage he caused could not be overlooked. “In the end, your cooperation did not completely make up for the harm and devastation that you knowingly caused,” she stated.

Leissner had faced up to 25 years behind bars but will instead begin serving his two-year sentence on September 15.