Tim Leissner, the husband of Kimora Lee Simmons, is reportedly on a leave of absence from Goldman Sachs while investigators look into a Malaysian state investment fund.
According to the New York Post, Leissner is the chairman of Goldman’s Southeast Asia operations. The paper reports that he left Singapore and relocated to Los Angeles while on leave from the firm. Fortune also reported on his leave in January 2016.
The reports center on 1Malaysia Development Berhad, known as 1MDB, a Malaysian state fund that Goldman worked with on bond sales. Goldman reportedly earned large fees on those deals. Reports also say about $681 million tied to the fund turned up in the personal bank account of Malaysian Prime Minister Najib Razak. Najib has denied any wrongdoing.
The New York Post says the FBI is looking at 1MDB transactions as part of wider money laundering probes that span five countries. Some of the transactions reportedly reflect close ties between Goldman and the Malaysian government. Leissner reportedly had access to the highest levels of that government.
At the time of the reports, Leissner had not been charged with anything. An email sent to him at Goldman returned an out of office message saying he was on personal leave with no access to email, and calls to his voicemail were not returned. Goldman declined to comment.
Baller Alert will keep you posted as more is reported.
