$60 million in 1MDB-linked kickbacks were not enough, according to the latest testimonial by ex-Goldman banker Tim Leissner, who admitted to stealing additional funds from Malaysian fugitive Jho Low.
A «large portion» of the $6.5 billion raised through three 1MDB bond deals was used for various payoffs, including $60 million in kickbacks for Tim Leissner but the former Goldman banker decided that the amount was insufficient.
According to Leissner’s testimony last week, he found an opportunity for additional looting after Malaysian fugitive and alleged mastermind of the 1MDB scandal Jho Low had asked him to «hold» 125 million euros ($139 million) in a Mauritius-based shell company.
$80 Million Grab
With much of Low’s $139 million invested in illiquid assets, Leissner saw an opportunity to keep $80 million for himself, he told the jury.
Some of the newly stolen funds would be used to buy a $50 million boat, part of the Inter Milan soccer team, two Manhattan apartments and the downpayment for a Los Angeles-based home he planned to share with new wife Kimora Lee Simmons.
Investments were also allegedly made in a multi-platform media firm and an energy drink company.
Leissner added that he had borrowed another $1.25 million from ex-colleague Roger Ng which he had intended to repay but «didn’t have a chance» due to his own arrest in 2018.
«Roger Was Not Happy»
Earlier last week, Leissner noted that Ng also shared his sentiments about wanting more, noting that he was «he felt he should have been paid more» from the 1MDB deals that helped Goldman earn $600 million in fees.
He described multiple occasions where he and Ng made attempts to supplement their Goldman income through planned deals including the sale of a copper project in the Philippines and a warrants transaction in Vietnam.
«Roger was not happy with his compensation,» Leissner said in his testimony last Tuesday.
