Source: http://www.crazydaysandnights.net

The recent adoption by a celebrity that made all the news was done to try and keep dad out of jail or at least get a reduced sentence.

Kimora Lee Simmons

Tim Leissner

1MDB Scandal

Kimora Lee Simmons and husband Tim Leissner announce that they have adopted a 10-year-old son, Gary… making her now a mother of five

Kimora Lee Simmons has mastered the art of balancing her professional empire and motherhood, having given birth to four children during the span of her career.

And the 44-year-old announced on Friday morning that she and her second husband, Tim Leissner, have added newly adopted son 10-year-old Gary to their modern family.

‘Kimora now has all boys at home. Gary joins sons Kenzo Lee Hounsou, 10, and Wolfe Lee Leissner, four,’ the fashion mogul’s rep revealed exclusively to Us Weekly.

She did not offer information about where or when she adopted the boy.

Recently, Kimora had to send her eldest children, daughter Aoki and daughter Ming, off to college, as they both live on-campus at their prestigious Universities.

‘Ming Lee Simmons is a sophomore at NYU, and the next youngest (daughter Aoki Lee Simmons) is a freshman at Harvard,’ informed Kimora’s rep.- Source

It’s all over for Goldman Sachs star Tim Leissner

Goldman Sachs senior executive Tim Leissner is banned in Singapore for life from operating any securities related business, signalling the end of the road for one of the firm’s most influential figures of the last 16 years.

Goldman Sachs, an institution with a longstanding reputation for extremely aggressive and effective methods of holding onto its gargantuan interbank FX dealing market share and ever expanding investment banking division, both of which are core business areas, has become the focus of attention again, this time surrounding the demise of one of its most widely renowned stars, Tim Leissner.

This morning, Tim Leissner was banned by the Singaporean government for life from participating in any securities industry activity in Singapore as a result of his embroilment in the multi-billion dollar incident at 1MDB, representing the latest action by a government over the alleged crimes surrounding the Malaysian state investment fund.

Mr Leissner, who has already pleaded guilty in the US to crimes in connection to 1MDB, was in 2017 banned for 10 years by the Monetary Authority of Singapore. That penalty was increased by the authority this week.

Rather oddly, last month, Mr Leissner placed the blame on the corporate culture that exists and is so strong within Goldman Sachs for his actions, and had given prosecutors the impression that he may now be able to be used as an instrument to lift the lid on an overtly aggressive methodology that he says exists within Goldman Sachs.

Goldman Sachs’s former top banker in Asia says the culture of secrecy at the investment bank led him to conceal wrongdoing from the company’s compliance staff. In his guilty plea, which was unsealed in early November, Mr Leissner said others at the bank helped him conceal bribes used to retain business in Malaysia, suggesting he has more to offer prosecutors.

The heavily redacted transcript doesn’t indicate whether he is cooperating with authorities. But the judge warned him that under federal sentencing guidelines he faces decades in prison. Providing useful information to prosecutors might help Leissner get a more lenient sentence.

Mr Leissner’s Aug. 28 statement to the judge may give prosecutors more leverage to go after the bank, and other executives, for their roles in raising $6.5 billion for the Malaysian fund, 1MDB. Prosecutors say more than $4 billion was siphoned off by friends and family of the nation’s prime minister, among others. “I conspired with other employees and agents of Goldman Sachs very much in line of its culture of Goldman Sachs to conceal facts from certain compliance and legal employees of Goldman Sachs,” he said.

The Monetary Authority of Singapore has stated that the scope of the prohibition order against the former Goldman Sachs employee had also been broadened to stop him becoming a substantial shareholder or a capital markets services licensee.

The move came two days after Malaysian prosecutors said they had filed criminal charges against Goldman Sachs, Mr Leissner and another former Goldman Sachs employee, Roger Ng Chong Hwa, for their role in the alleged embezzlement of billions of dollars from 1MDB.

The bank said it disputed the allegations and would defend itself. – Source

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