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Jasmine Loo Ai Swan is known as the former legal advisor to the Malaysian 1MDB mutual fund, who received a $5 million transfer from the fund. If you are curious to know their full details, please scroll down this article.
Jasmine Loo Ai Swan was a former 1MBD liaison to global bank Goldman Sachs Group Inc. She was also General Counsel for 1MDB Mutual Fund in Malaysia.
When Goldman Sachs led one of the big sales, $5 million worth of cash raised for 1 MDB flowed through shell companies into Jasmien Loo’s Swiss bank account, according to complaints filed earlier.
Recently, Tim Leissner, husband of model Kimora Lee Simmons, was accused in court on February 14, 2022 of having an intimate relationship with Jasmine Loo Ai Swan.
Who Is Jasmine Loo Ai Swan? Her Wikipedia
Jasmine Loo Ai Swan is a former Goldmen general counsel who served as a UBG bank clerk. She was wanted by Bank Negara Malaysia to assist in investigations under the Exchange Control Act 1953.
Jho Low’s collaborator Jasmine Loo Ai Swan has not yet been registered on the Wikipedia page. After the complaints and investigations filed, she was covered by numerous news portals and articles.
Jasmine Loo Ai Swan is Malaysian and holds a Law degree from the prestigious UK University. Before joining 1MDB, she worked as a Malaysian developer.
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1MDB: Goldman General Counsel Net Worth Explored
Jasmine Loo Ai Swan, Goldman’s general counsel, raised $5 million from the fund, which ended up in her Swiss bank account. Sources say Goldman Sachs earned a total of $590 million in commissions and fees from the sale of three 1-MBD bonds.
Jasmine Loo Ai Swan is no longer affiliated with 1MDB, but so far there are no clear details about her surroundings. According to a person familiar with the matter, she was not involved when 1MBD returned to fundraising in 2014.
Using information available on the Internet, Goldman’s General Counsel accumulated hundreds of thousands of dollars in a Leissner account.
1MDB: Jasmine Loo Ai Swan Huband – Is She Married?
Tim Leissner, the former chairman of Goldman Sachs, is reportedly the husband of Jasmine Loo Ai Swan. Agnifilo claimed he married two different women at the same time and used false intimacy.
Based on Agnifilo’s testimony, Jasmine Loo Ai Swan was in a relationship with Tim Leissner. Their dark trust and romantic involvement were exposed in court in Brooklyn, New York.
So far, Jasmine Loo Ai Swan has not commented on the media speculation about her relationship with Tim Leissner.
1MBD: Jasmine Loo Ai Swan Age In 2022
Former Goldman General Counsel Jasmin Loo Ai Swan could be in his 40s according to her photos. Information about her real age and dates of birth were not mentioned on the official site.
Jasmine Loo Ai Swan is a Malaysian-born legal advisor who owns an apartment in the Flatiron neighborhood of New York. Beyond that, no other data about her family and early life is available.
Goldman’s Solomon Says 1MDB Scandal Was ‘Distressing’
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Jasmine Loo Ai Swan is well-known as the former general counsel for Malaysia’s 1MDB investment fund who received a $5million transfer from the fund.
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Date Published: 6/8/2022
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Jasmine Loo Ai Swan, 1MDB and Goldman General Counsel Net Worth and Whereabouts By Anthony | February 24, 2022 0 Comment Jasmine Loo Ai Swan, 1MDB and …
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The Major Players in Goldman’s 1MDB Scandal: an Explainer
Jasmine Loo Ai Swan, a Malaysian who studied law in the UK, is the former general counsel of 1MDB. She was a main point of contact between …
Source: www.businessinsider.com
Date Published: 4/23/2021
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A Key Player in Malaysia’s Biggest-Ever Corruption Scandal …
Loo Ai Swan and Tan Kim Loong were named as key figures in the 2016 U.S. civil lawsuit seeking to reclaim assets bought with stolen 1MDB money.
Source: www.occrp.org
Date Published: 5/19/2021
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High-flying investment bankers, reclusive billionaires, and ‘The Wolf of Wall Street’ a guide to the major players in Malaysia’s 1MDB scandal
The 1MDB story has it all: missing billions, Hollywood celebrities and high-flying investment bankers. A scandal involving Malaysia’s sovereign investment funds has become one of the most notorious alleged fraud attempts of all time.
The fallout was widespread. According to the US Department of Justice, more than $4.5 billion was misappropriated from the fund during the program, which ran from 2009 to 2015. It has also sparked investigations in at least six countries, including Singapore, Malaysia, the United States and Switzerland.
Earlier this week, the Malaysian government filed criminal charges against four people involved in the scheme, including former Goldman Sachs employees, a super-rich Malaysian businessman and a former manager of the fund.
Below we’ve listed the key figures involved in the scandal, from whistleblowers who attempted to expose the scheme to the public, to the alleged masterminds.
A Key Player in Malaysia’s Biggest-Ever Corruption Scandal Found Sanctuary in Cyprus With Help From a Major London Firm
Serving the global elite
In the world of citizenship for sale, service providers are key. These companies identify target nations, manage the necessary investments, and do whatever else is needed to help the world’s richest people become “citizens of the world,” as their marketing parlance puts it.
And there’s no service provider more in demand than Henley & Partners, a London-based consultancy that bills itself as a “world leader in residency and citizenship planning.”
While Henley boasts of its exclusive client list and high-profile connections, it has firmly denied any association with Low. In November 2019, the company released a statement denying media reports that it had helped the Malaysian refugee.
But documents obtained by OCCRP indicate that Henley did in fact play a role in brokering Low’s Cypriot citizenship – and that it received a hefty commission for its services.
Low signed a contract with Henley on May 7, 2015, according to a copy of the document obtained by OCCRP. At this point, he was already emerging as a key character in the 1MDB saga.
Section One of the Client Agreement between Henley & Partners and Jho Low, signed May 7, 2015. (Click to see more.)
Less than four months later, he had a Cypriot passport in hand after buying a €5million beachfront villa from a real estate company working with Henley.
In a series of emails, Henley & Partners told OCCRP that Low was rejected as a client “due to the content of an external due diligence report which made it clear that he was a second-generation PEP [politically exposed person].” had been.
“To be perfectly clear, Jho Low was never a client of Henley & Partners,” the firm said in a three-page statement. “Henley & Partners was not mandated by Jho Low.”
The company continued to deny any relationship even after it was presented with documentary evidence. “However, we can understand some level of confusion on the part of outside observers as to the nature of the relationship,” a spokesman wrote.
Henley & Partners said that after the rejection it referred him to FidesCorp Services Limited, a Cyprus-based accounting firm that also offers citizenship services. Henley & Partners wrote that it has “no interest” in FidesCorp and has an “ad hoc relationship” with the company, which provides “complementary and uncompetitive services to a similar client base.”
In fact, the two companies have worked closely together for years, with the head of FidesCorp even helping Henley set up his Cyprus office.
Leaked emails and financial documents obtained by OCCRP indicate that FidesCorp played a role in settling Low’s Cypriot affairs, but that the relationship with Low was initiated and managed by Henley & Partners.
In doing so, Henley appears to have used FidesCorp as a shield to avoid scrutiny of his relationship with Low, despite earning hundreds of thousands of euros in commissions linked to his purchase of a Cypriot passport, the documents show.
A due diligence report commissioned by Henley & Partners referenced a New York Times article that raised suspicions about the source of Low’s vast fortune.
They also reveal that Henley & Partners worked with Low until at least late November 2016, by which time his close ties to the 1MDB scam were widely known.
🔗Due diligence completed? Service providers such as Henley & Partners are required by law to conduct background checks on their customers to ensure they do not encourage money laundering. If a client appears to be a PEP or Politically Exposed Person, they should be further investigated as they are at higher risk of being involved in corruption. The rules also apply to real estate agents. In Low’s case, it wouldn’t have taken long to uncover disturbing information about his wealth. “Since February 2015, there has been public information and media articles linking Jho Low to the 1MDB scandal,” LaPrevotte, the former FBI agent, told OCCRP. “Anyone doing due diligence should see it.” Henley & Partners saw it. The contract signed with Low includes an attached profile from World-Check, a commercial database of high-risk individuals. The profile correctly identifies Low as a PEP because he was a “close associate” of Najib Razak, then Prime Minister of Malaysia, who has since been sentenced to prison for transferring 1MDB funds to his personal bank accounts. The document describes Low as the chief executive officer of Jynwel Capital Limited, the Hong Kong financial services company that the US Department of Justice says stole funds from 1MDB. A lengthy New York Times investigation, cited in the profile, detailed concerns about Low’s lavish spending and opaque real estate deals given his close ties to Razak. “Speculations are brewing as to where Low gets his money from,” another news agency is quoted as saying. Maira Martini, a policy expert at Transparency International, said if Henley considered Low too risky for his citizenship brokerage business, he should have avoided also working as a real estate agent on his behalf. “Did you also consider risk when assisting him in finding a property in Cyprus?” she asked.
Leaked emails obtained by OCCRP show that the company’s own employees are actively working to help Low obtain citizenship.
To qualify, Low chose to pay a local developer €5m to build him a villa on prime beachfront land in Ayia Napa, a resort town in eastern Cyprus whose white sandy beaches and turquoise waters have made it a prime tourist destination made investors looking for passports.
In an email to Low dated June 21, 2015, Yiannos Trisokkas, then Managing Partner of Henley & Partners in Cyprus and Chair of the firm’s Real Estate Committee, outlined the next steps.
“We have already engaged our exclusive local service provider and the companies are ready with the nominated services. A nominated service provider acts on behalf of another company, allowing it to hide its true ownership. also included,” he wrote. “Once the villa purchase agreement is signed between the seller and the buyer (your company), the nominee will continue to sign in accordance with your written instructions.”
Trisokkas instructed Low to transfer €5,960,000 for the house into an escrow account in Cyprus that FidesCorp set up for him on behalf of Henley & Partners.
Cypriot firm FidesCorp billed Jho Low €80,000 for helping him apply for citizenship.
That amount, he noted, didn’t include what Low would have to pay for “everything related to your citizenship application.” He asked Jennifer Lai, Henley’s general manager at the time, if she had billed Low for the application.
The next day, June 22, FidesCorp charged Low €80,000 for “our fees and expenses in relation to professional services rendered.” From this sum, 60,000 euros were then transferred to Henley – a payment that the company described as an agency fee.
“Due to long-term contracts that were in effect at the time but are now being amended, H&P was able to charge Fidescorp a commission payment for the placement,” the company said.
Invoices issued to FidesCorp Limited by two Henley subsidiaries, Henley & Partners Cyprus Limited and Henley & Partners Hong Kong Limited. They show that of the €80,000 citizenship fee Jho Low paid, Henley’s share was €60,000.
Three days after Trisokkas’ June email, €5,960,000 was transferred from Low’s personal account at Falcon Private Bank owned by the Abu Dhabi State Fund to the client’s Bank of Cyprus escrow account set up by FidesCorp, according to a report by a Cypriot government investigative committee.
According to the report, Deutsche Bank acted as correspondent bank in the transaction. A spokesman for Deutsche Bank said that “for legal reasons we cannot provide any information about potential or existing customer relationships”. The Bank of Cyprus did not respond to a request for comment.
Henley’s support for Low didn’t stop there. Leaked emails show Low changed his mind about the purchase in late November 2016. He emailed Trisokkas to say that he wanted to build his house on a larger lot than the one he originally purchased.
Trisokkas was quick to respond, offering a larger beachfront lot in the same area that would offer “greater privacy” before agreeing to cancel the old deal and sign a new one “on the same terms”. Seven months later, in June 2017, a new purchase agreement was signed.
Do you know more about this story? Some of OCCRP’s most important journalistic work comes from anonymous or confidential tips. If you know more about the issues discussed here or have documents or evidence of wrongdoing that you would like to bring public, OCCRP can help. Contact us safely
“We remain absolutely certain that this company has done nothing wrong,” Henley wrote in a statement to OCCRP, underlining the words for emphasis.
However, it acknowledged: “It may be that some individual employees involved were not acting as a team at the time, or not adhering to the new procedures, or not exercising a sufficient level of judgment in relation to their interactions with property partners. ”
The company added that “all those who may have been involved and responsible are no longer with the company today,” including Jennifer Lai and Yiannos Trisokkas.
“Henley and Partners in 2021 is not the Henley [and] Partners of 2010 or 2015-17,” the company said. “There have been a number of significant changes both in terms of senior management, governance, structure and processes.”
According to her LinkedIn profile, Lai left the company in September 2020 after serving as managing partner for almost five years.
However, as of mid-January 2021, Trisokkas was still a director of Henley & Partners Cyprus Limited, according to company documents. His profile was removed from Henley’s website in early January, shortly after OCCRP emailed Henley inquiring about his role in brokering Low’s citizenship.
FidesCorp declined to comment citing client confidentiality. “Given that an investigation is currently ongoing by the authorities of the Republic of Cyprus, we are obliged not to make any statements,” the company added.
Tim Leissner wanted ‘rich guy’ image to be with Kimora Lee Simmons
Tim Leissner was never exactly the shy, reserved type. As chief executive officer for Southeast Asia at Goldman Sachs by 2012, he was reportedly making more than $10 million a year, was lavish and was known for being a hard parter
But teaming up with Kimora Lee Simmons — the glamorous model, Baby Phat designer, and ex-wife of Def Jam Records co-founder Russell Simmons — that same year prompted him to pursue a more luxurious life.
“He married Kimora and needed to present a richer personality. He couldn’t be a banker. He had to be a rich guy with his own yacht,” Bradley Hope, co-author of Billion Dollar Whale: The Man Who Fooled Walled Street, Hollywood and the World, told The Post.
“He wanted to be a player and not the guy who only deals with players.”
Ex-Goldman Sachs executive Tim Leissner, the estranged husband of model and Baby Phat designer Kimora Lee Simmons, has pleaded guilty to his role in an alleged $4.5 billion robbery of Malaysia’s sovereign wealth fund. NY Post photocomposite
Last week, Leissner, 51, was roasted in federal court in Brooklyn – in the hot seat as a government witness in the trial of his former subordinate. Roger Ng is accused of conspiring to launder money and violating the federal law on corrupt practices abroad as part of an alleged $4.5 billion robbery of Malaysia’s sovereign wealth fund allegedly by the notorious party boy — and friend of Leonardo DiCaprio — Jho Low (now led by The Lamb in China).
Tim Leissner met Kimora Lee Simmons on a flight – and proposed to her after landing. WireImage
Goldman Sachs bankers are said to have used tens of millions of dollars from Malaysia’s sovereign development fund 1MDB, which had raised $8 billion to be invested on behalf of Malaysian citizens.
German-born Leissner has already worked out a plea deal – he pleaded guilty to money laundering and forfeited $43.7 million. (According to court documents, more than $200 million was said to have been transferred from 1MDB to accounts owned and controlled by Leissner and a co-conspirator between 2012 and October 2014.) But Ng’s attorney, Marc Agnifilo, is still dragging him through the mud.
“Tim Leissner uses people,” Agnifilo told the court on February 14. He was “married to two different women at the same time — twice.” The attorney also accused Leissner of forging documents, including divorce papers, and having sexual relations with Jasmine Loo Ai Swan, 1MDB’s former legal counsel, who made a $5 million wire transfer dollars received from the fund.
Tim Leissner (centre) struck a plea deal with the government but is still being raked over the coals in court. Bloomberg via Getty Images
“Those things should have been red flags,” the defender said.
Agnifilo called Leissner a “mini version of Low” and claimed the former banker was seeking money to buy private planes, yachts and houses in Beverly Hills.
Leissner’s attorney had no comment on this story.
Hope also pointed out some of Leissner’s past shady behavior.
In 1993 “he earned a Ph.D. online and started seeing Dr. Leissner,” said the author. In Billion Dollar Whale, Hope writes, “Leissner began using the title ‘Dr.’ in lectures, and shortly thereafter secured a promotion to vice president at J.P. Morgan.”
Leissner has always led a privileged life.
Russell Simmons (far left, with actress Shannon Elizabeth) is suing his ex-wife Kimora Lee Simmons and Leissner, alleging his shares in an energy drink company were fraudulently used for Leissner’s bail. Jeff Vespa/Getty Images for The Weinstein Company
The son of a wealthy Volkswagen executive, he was obsessed with tennis as a child and attended camps where he received lessons from the likes of Steffi Graf. After receiving an MBA from the University of Hartford in Connecticut, he moved to J.P. Morgan and his first marriage to London.
In the mid-1990s his marriage was faltering, business was booming and Hong Kong was tempting.
He next married Judy Chan, the daughter of a Chinese coal magnate. The couple’s lavish wedding, which took place in the grounds of a swanky Hong Kong hotel, was notorious for its series of suckling pigs with flashing lights stuffed into the animals’ eye sockets.
Playboy entrepreneur Jho Low – seen with Leonardo DiCaprio, one of many celebrities he paid to attend his parties – has allegedly greased the wheels for bankers to embezzle from the fund. Getty Images
(Although Ng’s attorney, Anigfilo, claimed in court last week that Leissner was a “double bigamist” who was “married twice at the same time to two different women,” it is not known which women he is referring to.)
For American investment bankers, the Far East was more like the Wild West at the time. Leissner and his colleagues strutted around the continent with bags bulging, taking the notion of work hard/play hard to the extreme.
According to the Financial Times, “His party skills were legendary, and even rivals admitted he was still on time for meetings, no matter how late the night before.”
Meanwhile, deals frowned upon in the West have been blithely overlooked in Southeast Asia.
Leissner was a key witness in the trial of his former Goldman Sachs subordinate Roger Ng (right) last week, who is charged with conspiracy to launder money and violating the Federal Foreign Corrupt Practices Act. Gregory P. Mango
“Tim felt comfortable in the offbeat environment,” Hope said. “It had failed because it was confusing government with business. We don’t have that in America – and if we did, it would be fraught with corruption. Having pools of money [that senior government officials have access to] is a dangerous thing. Malaysia is famous for corruption. You have a country where bribes are part of the culture. Skimming off money from deals is part of it.”
Still, Hope says, Leissner was enough of a moneymaker, eventually making $10 million a year from his job at the investment bank’s Hong Kong headquarters, that his supposedly shady eccentricities went unnoticed.
When Leissner met Jho Low, introduced by Ng, around 2008, Leissner was considered “the knees of bees” at Goldman, according to Hope.
Leissner shares son Wolfe, now 6, with Kimora. Presley Ann/PatrickMcMullan.com
Raised in Malaysia, of Chinese descent and educated in Wharton, Low had already established a reputation as a wealthy man with family money and access to sovereign wealth funds. He was known for doing business with the rich and now he wanted to raise billions for 1MDB, the sovereign wealth fund of the country of Malaysia. Goldman Sachs raised the money through bond sales through Ng and Leissner.
According to prosecutors, Ng and Leissner allegedly helped Low embezzle funds from 1MDB in exchange for millions of dollars in bribes (Ng has pleaded not guilty to all charges). The payouts quickly spiraled out of control, as did the lifestyle.
Leissner was a guest at Low’s 2012 birthday party in a converted Las Vegas airplane hangar that housed distractions like a Ferris wheel and cigar lounge. Attendees included Kim Kardashian and Paris Hilton, as well as Bradley Cooper and Zach Galifianakis, who took a night off to film The Hangover at Caesars Palace. Britney Spears jumped out of a cake that night and serenaded Low. Robin Leach gushed that it was “the most expensive party Las Vegas has ever seen.”
Low-paid celebrities like Megan Fox and Leonardo DiCaprio attend his parties and fly them in on private jets.
Kimora and Leissner are now separated. Araya Diaz/Getty Images for The Weinstein Company
In 2012, Leissner was en route to a Formula 1 race when he met Kimora Lee Simmons in business class on a Cathay Pacific flight between Hong Kong and Kuala Lumpur. According to Billion Dollar Whale, they almost immediately began fighting over who should use the empty middle seat for extra carry-on luggage. When they landed, Leissner had proposed marriage.
Although that took two years, they quickly became an item. Leissner was suddenly living the high life in her $25 million mansion in Los Angeles’ elite Beverly Park neighborhood. The two had a son, Wolfe, in 2015. (Kimora also has two daughters, Ming, 22, and Aoki, 19, with Russell Simmons; son Kenzo, 12, with actor Djimon Hounsou; and adopted son Gary, 12.)
“The impression [colleagues] got was that he wanted to make a lot of money,” Hope said of Leissner when Kimora came into his life. “He wasn’t content with doing what he did.”
Jho Low is now reportedly on the run in China. WireImage
Leissner always seemed to have ways to justify his success without being unsavory.
“Nobody knew he was doing the things he was doing or the full extent of it,” Hope said, referring specifically to Jho Low’s caper but explaining that she could have gone beyond that. Seeing how much business Leissner was bringing in from Southeast Asia, a part of the world that can be difficult for American bankers to penetrate, Goldman colleagues wondered “how he did what he did and how he did it . He said he was charismatic and understood the culture.”
Hope isn’t surprised that Leissner made it: “People like Tim know how to control themselves. They are good chameleons.”
But rubber hit the streets in 2015 when it became clear that the 1MDB fund had accumulated overwhelming debt. Goldman Sachs launched an internal investigation. Leissner, suspended from the company, returned to luxury life in Los Angeles. After his arrest in June 2018, he quickly pleaded guilty and began negotiating the most important deal of his life.
Russell Simmons alleges that the shares used “fraudulently” for Leissner’s bail and legal fees were from Celsius Energy Drink. Getty Images
“Basically, Leissner agreed to testify against everyone,” Hope told the Post. “Ng was arrested and handed himself over. He didn’t want to make a plea. He…fights because he thinks he’s a small fish, and why should he take the brunt of the blame?”
Meanwhile, Leissner had also drawn the ire of his wife’s ex. Russell and Kimora each own half of an investment firm that held four million shares of Celsius Energy Drink; Russell alleges that half of the shares were fraudulently transferred to cover Leissner’s bail and legal fees; Kimora claims that she and Leissner bought the shares independently. Russell has filed a lawsuit against the couple.
Kimora and Leissner are now separated.
For one thing, Hope thinks things might have turned out differently if the perpetrators hadn’t been so greedy.
“If only $1 billion had been stolen, they might have gotten away with it,” the author said. “But the fund became a Ponzi scheme. They needed new money to service the debt.”
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