1MDB fire sale coming to Manhattan

As I have written about earlier this year on the billions of dollar siphoned out of Malaysian government investment fund, the feds on Wednesday are likely to start seizing assets bought with the ill-gotten gains.

While it may sound like a complicated bond story the assets purchased and financed through the fund are anything but.

Posh Manhattan real estate on Central Park South, financing for “The Wolf Of Wall Street,” film and profits from Goldman Sachs are but a few of the entities that could see clawbacks from the FBI.

The bond manipulation story has already cost a Goldman managing director his job, Tim Leissner his career. He oversaw all the questionable bond offerings connected to 1MDB.

Leissner who is married to Kimora Lee Simmons used the huge profits generated by the bond offerings to fund a lavish Hollywood lifestyle, including backing the Wall Street film. Leissner parted ways with Goldman soon after he subpoena by the US authorities in the case in February of this year.

Well now the unwind will begin, with posh Manhattan real estate, artwork and profits from the money being grabbed by the FBI’s international corruption unit to return to the Malaysian government.

 

Advertisements

2 thoughts on “1MDB fire sale coming to Manhattan

  1. Pingback: Leonardo DiCaprio tied to “Wolf of Malaysia,” DOJ | Gray's Economy

  2. Pingback: Miranda Kerr turns over $8.1M to feds in Malaysian fund ‘gifts’ | Gray's Economy

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s