Two years ago Russell Simmons sued his ex-wife Kimora Lee Simmons accusing her of using their jointly owned energy drink stock to bail her husband Tim Liessner out of jail after he was indicted in the 1MBD Malaysian bond fraud scandal [click here if you missed that].
Now Kimora and Tim have been ordered to forfeit the stock in restitution...
From Bloomberg
Former Goldman Sachs Group Inc. banker Tim Leissner, who pleaded guilty to participating in the massive 1MDB foreign bribery fraud, was ordered to forfeit $43.7 million in cash as well as all 3.3 million shares in fitness drink company Celsius Holdings Inc.
US District Judge Margo Brodie on Friday ordered Leissner to surrender the assets as part of his earlier guilty plea to foreign bribery and money-laundering charges related to the 1MDB scandal. Leissner has been free on $20 million bail since his arrest in June 2018. He pleaded guilty in August 2018 and was the government’s star witness against his former Goldman colleague Roger Ng.
Ownership of the Celsius shares remains in dispute. Ng sued Leissner in New York state court in November, alleging his ex-boss cheated him out of an investment worth at least $130 million. Ng alleged that Leissner took his original $1.25 million investment in Celsius, has since grown in value enormously. That case is still pending.
Brodie said in her Friday order that the Celsius shares were being held at a JPMorgan Chase & Co. account in the name of Leissner’s former wife, Kimora Lee Simmons. The judge said anyone who asserts a legal interest in the Celsius shares may file a petition with the court.
Low stole $1.42 billion from three bond transactions that Goldman arranged for 1MDB, according to a forensic accountant with the Federal Bureau of Investigation who testified at Ng’s trial. The US said evidence showed Ng collected $35.1 million in the fraud while Leissner received $73.4 million. Low remains a fugitive.
Leissner testified at the trial that, as part of his guilty plea, he had agreed to surrender a stake in Celsius he estimated was now worth about $200 million and had previously posted 3.25 million shares in Celsius as collateral to secure his bond.
During his time on the witness stand he admitted to faking divorce documents, creating phony email accounts, marrying multiple women at the same time and keeping money that wasn’t his.
12 comments:
Kimora needs to check her taste in men.
Kimora loves the money more than the men.
Wait?! 3.3 million in Celsius shares? That's over a quarter of a billion dollars. Yikes!
"Leissner has been free on $20 million bail."
A person that comments murder doesn't get $20millie in bail money. White collar crime in foreign bribery fraud is worth more than a person's life. Where is the justice.
What energy drink are we talking about? Gator-aid, Red Bull
Run Ng run. Yt man out to get you. LOLO
His original $1.25 million investment in Celsius is now worth over $200 million! Kimora knows how to marry for money. She has dated and reproduced with more than 1 multi-millionaire. Their characters are worth shit, but broke men do the same shit and are still broke. Kimora keep doing what you do!
Well Russ you taught the little grasshopper well
@Anon 11:21 she got played!! All the way around. She was groomed my Russelland then married a bigamist White criminal!!! She’s not winning!!! But some folks are for sale.
The law is designed to protect white collar criminals like this, he'll never see the inside of jail cell and still remain exorbitantly wealthy once this is all done and dusted. These jackals have politicians in their pockets.
It's interesting how Russ gave her an incredibly lavish life and this guy came and made her look bootleg like a mug. She married a fraud thinking she was getting the real deal.
It's interesting how Russ gave her an incredibly lavish life and this guy came and made her look bootleg like a mug. She married a fraud thinking she was getting the real deal.
Wh*te don't always mean right ..
Low is a fugitive laying low on an island drinking Mai Tai's.
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