Prosecutors have alleged that Low and the Goldman bankers used the money to fund an extravagant lifestyle, including luxury properties and high-rolling casino trips.įern said some of the money that ended up in the account controlled by Ng’s mother-in-law was used to buy the hourglass and a jewelry that included a six-carat diamond ring.Įarlier this week, prosecutors alleged Ng’s wife, Hwee Bin Lim, “played a central and crucial role” in Ng’s efforts to launder his proceeds from the scheme. Bloomberg via Getty ImagesĪn additional $10.7 million arrived in Tan’s offshore account in two transactions occurring in 2013 as the scheme continued, Fern added. Roger Ng has pleaded not guilty to federal charges in connection to the embezzlement scheme. The money moved just weeks after the Goldman bankers facilitated a bond deal involving the 1MDB fund in May 2012, according to Fern’s testimony detailed by Bloomberg.
#Tim leissner net worth 2013 trial
Money stolen as part of a scheme by ex-Goldman Sachs bankers to loot a Malaysian sovereign wealth fund was used to make extravagant purchases – such as $300,000 worth of jewelry and a $20,000 gold-plated hourglass, according to an FBI agent who tracked the transactions.įBI agent Sean Fern detailed the lavish purchases while testifying in the ongoing embezzlement trial of ex-Goldman star Roger Ng – who is accused of conspiring with fellow ex-banker Tim Leissner and shady Malaysian financier Jho Low to steal billions from Malaysia’s 1MDB fund.Īt least $24.4 million in pilfered cash was transferred from an account controlled by Leissner’s ex-wife, Judy Chan Leissner, to another account held by Ng’s mother-in-law Tan Kim Chin. Goldman Sachs CEO David Solomon warns of persistent inflationĮx-Goldman Sachs CEO Lloyd Blankfein says feud with successor David Solomon ‘so overplayed’
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