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Thursday, March 31, 2016

Luxembourg launches money laundering probe into 1MDB


Luxembourg's state prosecutor launched a judicial inquiry into allegations of money laundering, covering payments totalling hundreds of millions of dollars, against Malaysia's sovereign wealth fund 1Malaysia Development Bhd (1MDB).
The prosecutor said the inquiry followed evidence that funds held by the Malaysian government in offshore accounts in Singapore, Switzerland and Luxembourg had been misused.
"The investigation aims to trace the origin of four transfers in 2012 and one in at the start of 2013 for a total of several hundreds of millions of dollars," the statement said.
The allegations concerned in particular the sums paid upon the issuance of two bonds in May and October 2012.
1MDB, whose advisory board is chaired by Malaysian Prime Minister Najib Abdul Razak, has been the subject of multiple investigations over the last year by authorities in Malaysia, Switzerland, Singapore and the United States following accusations of financial mismanagement and graft.
The fund has previously denied all allegations while saying it would cooperate with investigations. It did not immediately respond to an e-mail seeking comment on the Luxembourg inquiry.
Switzerland's chief prosecutor said in January that a criminal investigation into 1MDB had showed about US$4 billion (about RM15.5 billion) appeared to have been misappropriated from Malaysian state companies.
Singapore said it had sequestered a large number of bank accounts as part of an investigation into possible money-laundering linked to the fund.
– Reuters

'Let Dr M talk and talk, police will pin more charges on him'


Deputy Home Minister Nur Jazlan Mohamed said that police are piling up more evidence to build a more serious case against former prime minister Dr Mahathir Mohamad.
"No, we will not stop him (from talking); now we let him talk and talk. Maybe police want to pile more evidence to bring more serious charges against Mahathir," said Nur Jazlan when asked if authorities will do anything to stop Mahathir's constant criticism.
He said that the police would only take action against the former Umno veteran when they are satisfied that their prosecution of the case will be successfully proven in court.
"The thing now is that Mahathir has publicly called for the ouster of the prime minister, admitted that he talked to (former police commando) Sirul (Azhar Umar Sirul) and other actions that have legal implications, and we should let police investigate.
"Let the police take action; instead of just one offence, we might as well pile up 10 to 20 more. The more he speaks, the more he offends.
"When the police are satisfied (then they will act); they want to make sure that when they prosecute in court, they will be succesfull," he told reporters in Putrajaya today.
Yesterday, Nur Jazlan said that Mahathir might have uttered seditious words when he said that the people must come up with an out-of-the-box solution on how to oust Najib, adding that the police will quiz the ex-premier and take action if an offence is apparent.
On a related matter, the deputy minister hit out at the Malaysian Bar Council for acting like a political party instead of a legal body, labelling it as "unprofessional".
"Why would they want to defend those who commit an offence? The Malaysian Bar is no longer professional and is acting like a political party," he said.
"It is using the platform for politics and not to fight for the welfare of lawyers," he said.
He was referring to the gathering of lawyers at the federal police headquarters in Bukit Aman to protest alleged police interference in the Bar's affairs.
The police have called four of the Bar's members for questioning under the Sedition Act over a motion tabled at the group's AGM calling on attorney-general Mohamed Apandi Ali to resign for refusing to prosecute Prime Minister Najib Abdul Razak for the RM2.6 billion donation and the RM42 million SRC cases. -Mkini

Harga minyak naik - RON95 jadi RM1.70 - RON97 jadi RM2.05 - DIESEL jadi RM1.55



Harga runcit petrol RON95 dan RON97 masing-masing akan meningkat sebanyak 10 sen seliter berkuat kuasa tengah malam ini. Ini bermakna harga baru RON95 akan menjadi RM1.70 seliter manakala RON97 akan dijual pada harga RM2.05 seliter. Bagi diesel, ia akan menyaksikan peningkatan sebanyak 20 sen menjadi RM1.55. Peningkatan itu selaras dengan pemulihan harga minyak mentah dunia selepas ia mencecah paras terendah pada bulan Februari. Harga minyak mentah Brent berlegar sekitar AS$30 setong pada bulan lalu dan mencatatkan harga AS$38.30 setong pada masa berita ini disiarkan. Ia pernah jatuh kepada AS$26.10 setong pada bulan Februari.

Mampus !! Aabar CEO Mohd Al Husseiny Arrested In Abu Dhabi, To Be Extradited To US



  • AG SAID NO CASE TO ANSWER
  • IGP SAID NO INVESTIGATION FOR NOW
  • ABU DHABI ARRESTS AL HUSSEINY
  • US HAS ASKED TO EXTRADITE HIM
  

This is from here https://swk.global.ssl.fastly.net/2016/03/first-1mdb-arrest-former-senior-fund-manager-faces-us-extradition-request-in-abu-dhabi-exclusive/

First 1MDB Arrest - Former Senior Fund Manager Faces US Extradition Request In Abu Dhabi EXCLUSIVE!
 
30 March 2016 

Al Husseiny – side kick to former IPIC CEO, Khadem al Qubaisi

first 1MDB related arrest has taken place at the request of US 

shock waves and shivers through Malaysian political establishment 

US confirmed Al Husseiny placed in detention in Abu Dhabi

now processing extradition request by US DOJ concerning 1MDB.

first outward move in investigation ongoing in US for several months

disappearance of billions of dollars from 1MDB 

Whilst CEO of Aabar Husseiny key player in highly controversial 1MDB deals

fronted a massive bail-out of 1MDB’s debts, in a surprise move last June.  

numerous questions concerning Aabar

Al Husseiny right hand man of nightclub supremo, Khadem al Qubaisi, CEO of IPIC.

Al Qubaisi thrown out of all official posts in April last year 
period under house arrest 
fled to South of France, where he has considerable property.

Al Qubaisi removed from number of private business positions over past fortnight 
IPIC removed key subsidiaries of Aabar (linked to Khadem) from its websites

news caused major loss of confidence in related businesses in US

Las Vegas-based Hakkasan nightclub empire owned by Al Qubaisi 
fronted by CEO, the Head of Mergers & Aquistions, Neil Moffit
signs of panic 

Rumours that three top executives, including Moffit about to jump ship 

concerns in Hollywood, where Husseiny major investor in Red Granite
owned by Najib’s step-son, Riza Aziz.

Aziz wiped all evidence of Jho Low from Instagram and other accounts

conflict of interest, business partner of 1MDB investing hundreds of millions in films commissioned by the shareholder’s own son.

How the former Abu Dhabi fund manager – a public servant – acquired such huge sums was another question that has gone unanswered.

Al Husseiny will answer these issues in the US - as now formally requested. 

position of Rosmah’s son Riza Aziz subject to much speculation 
ostentatious living and property acquisitions
start to look precarious
widely known . . Riza told colleagues funding from Jho Low (rather than Husseiny).

Their blockbuster Wolf of Wall Street even carried a credit thanking Jho Low.
 
Jho Low connection

Riza under spotlight, just as Red Granite prepares to launch next blockbuster

The General, a bio-pic of George Washington, starring (of course) di Caprio
close party pal in Jho Low’s circle

Al Husseiny’s dealings with the fugitive billionaire, his former boss Khadem Al Qubaisi, and their mutual business contact Jho Low are therefore likely to be top of the agenda during any questioning by law enforcers.

Aabar, once US$70 million equity base, lost bulk of its money 

struggling to raise lending in recent weeks to cover commitments to 1MDB 

authorities in Abu Dhabi wondering why?

US interested in extensive private investments in property by these players
record price breaking penthouses in New York and Beverley Hills
multi-million dollar investments in Hakkasan night club chain managed by Moffit

My comments :  Thats all folks.

UNSTOPPABLE EXPOSÉS: NOW NAZIR IMPLICATED FOR TAKING US$ 7MIL: WHO NEXT WILL THE NAJIB TRAIL OF EXTRAVAGANCE & CORRUPTION DIG OUT...

UNSTOPPABLE EXPOSÉS: NOW NAZIR IMPLICATED FOR TAKING US$ 7MIL: WHO NEXT WILL THE NAJIB TRAIL OF EXTRAVAGANCE & CORRUPTION DIG OUT...
HONOLULU, Hawaii - On Christmas Eve 2014, Malaysian Prime Minister Najib Razak stepped onto Hawaii’s 18-hole Kaneohe Klipper course for a round of golf diplomacy with U.S. President Barack Obama.
Off the fairways, another side of Mr. Najib’s time in office was on display. Two days earlier, the prime minister’s credit card was charged $130,625 to Chanel in Honolulu, according to Malaysian investigation documents. A person who works at a Chanel store in the upscale Ala Moana Center recalls Mr. Najib’s wife shopping there just before Christmas.
The credit card was paid from one of several private bank accounts owned by Mr. Najib that global investigators believe received hundreds of millions of dollars diverted from a government investment fund set up by the prime minister in 2009. The fund, 1Malaysia Development Bhd., or 1MDB, today is at the center of corruption probes by authorities in Malaysia and at least five other nations.
The Malaysian investigation documents, viewed by The Wall Street Journal, contain bank-transfer information that provides the most complete picture to date of the money that flowed through the prime minister’s accounts over a five-year period, the majority of it, investigators say, originating from 1MDB.
They show for the first time how some of the money in Mr. Najib’s accounts allegedly was used for personal expenses. That included $15 million in spending on clothes, jewelry and a car, according to the bank-transfer information, involving stores in the U.S., Malaysia, Italy and elsewhere.
The disclosures appear to undermine key claims Mr. Najib and his allies have made in his defense, including that none of the money went toward personal expenses. They also detail how Mr. Najib used the funds to operate a large political machine, with money flowing from his accounts to politicians, think tanks and lawyers during a close election in 2013.
Mr. Najib, who was seen by Washington as a liberal, Western-friendly leader when he first came into power in 2009, didn’t respond to requests for comment. He has strenuously denied wrongdoing.
A lawyer for Mr. Najib’s wife, Rosmah Mansor, declined to comment. The 1MDB fund also didn’t respond to questions. It has denied sending money to Mr. Najib’s accounts or other wrongdoing and said it is cooperating with probes.
In all, the documents show over $1 billion entered five accounts belonging to Mr. Najib at AmBank Bhd., a Malaysian bank, between 2011 and 2015.
As previously reported, $681 million was transferred via a web of entities in March 2013, money which investigators in two countries believe originated with 1MDB, the government fund. Malaysian investigators believe another set of transfers in 2014 and 2015, totaling $25 million, came from an entity known as SRC International Bhd., a company that originally was controlled by 1MDB but was transferred to the Finance Ministry in 2012. Mr. Najib also is the finance minister.
After the Journal first reported those transfers last July, Mr. Najib wrote a post on Facebook saying: “Let me be very clear: I have never taken funds for personal gain as alleged by my political opponents—whether from 1MDB, SRC International or other entities, as these companies have confirmed.”
Malaysia’s attorney general in January cleared Mr. Najib of wrongdoing, saying $681 million that entered his accounts in 2013 was a legal donation from the Saudi royal family, and that most of it was returned. Mr. Najib’s defenders have said any money spent in Malaysia went for political purposes, which they say is permissible.
Malaysian authorities haven’t commented on the other money alleged to have entered Mr. Najib’s accounts.
The latest Malaysian investigation documents reviewed by the Journal contradict the attorney general’s account. They show transfers from a person in Saudi Arabia and from the country’s finance ministry, but they occurred earlier, in 2011 and 2012, and are of smaller amounts, totaling $200 million. The finance ministry didn’t respond to requests for comment.
The documents show the prime minister made more than 500 payments from his accounts, the bulk of them to political players. Tens of millions of dollars of such payments occurred ahead of the May 2013 elections, which Mr. Najib’s party risked losing for the first time since Malaysia’s independence from Britain in 1957.
The payments from the prime minister’s accounts at this time included nearly $7 million to the private account of one of Mr. Najib’s four brothers, who is chairman of CIMB Group Holdings Bhd., a government-controlled bank.
Nazir too
Nazir Razak, the brother, confirmed to the Journal in a written statement he received the money, which he said was disbursed by bank staff to ruling-party politicians according to the instructions of party leaders.
He said he believed the money originated with donations he had helped raise from Malaysian corporations and individuals for the elections.
“I had no knowledge whatsoever that these funds may have originated from any other source(s),” he said. “The entire amount was paid out in cash to various recipients according to the instructions of the party president and the account was closed with a zero balance.”
A spokeswoman for CIMB declined to comment.
Another transfer of almost $70,000, on July 4, 2014, went to the prime minister’s son, Nor Ashman Najib, according to the documents. Attempts to reach him were unsuccessful.
The money flowing to Mr. Najib’s account is only part of a much larger amount thatinvestigators believe was misappropriated from 1MDB, which raised over $11 billion in debt, much of it from global investors. Swiss authorities, who along with the U.S., Hong Kong, Abu Dhabi and Singapore are probing the fund, say 1MDB-related losses from misappropriation could reach $4 billion.
Several investigations by Malaysia’s central bank, a parliamentary committee, the country’s auditor general, Malaysia’s antigraft agency and police, are continuing.
The Malaysian investigation documents show that around $170 million entered the prime minister’s accounts from other offshore companies set up to look like bona-fide financial giants such as Blackstone Group LP.
Investigators in two countries are probing the origin of the money that came from Blackstone Asia Real Estate Partners, a British Virgin Islands company, and whether any of it also originated from 1MDB.
A spokeswoman for Blackstone Group said the U.S. company had no knowledge of this offshore entity.
A report on Australian Broadcasting Corp.’s Four Corners program said that some of the money transfers into Mr. Najib’s accounts triggered internal money-laundering alarms inside AmBank. The bank didn’t respond to requests for comment.
Some $44 million from Mr. Najib’s accounts was recorded as going to a company called Solar Shine Bhd. The firm was used by the ruling party to distribute small handouts like food and stationery to voters around elections, according to newspaper reports and a person familiar with the matter. Ruling-party organizations and think-tanks got large amounts, according to the documents.
Attempts to locate Solar Shine weren’t successful.
Of the apparent personal spending, one of the most regular recipients of funds from Mr. Najib’s accounts was Jakel Trading Bhd., a Malaysian luxury clothing retailer. Between 2011 and 2014, Mr. Najib transferred over $14 million to Jakel, according to the documents. The company specializes in traditional Malay formal wear, suits, wedding attire and home furnishings.
Attempts to reach Jakel weren’t successful.
There was a recorded expenditure on June 28, 2011, at Signature Exotic Cars, a car dealership in Kuala Lumpur, for $56,000. Signature’s managing director, Daniel Lim, didn’t respond to a request for comment.
Mr. Najib’s credit card also incurred charges of €750,000 in August 2014 at an Italian branch of De Grisogono, a Swiss-owned jewelry store, again being financed from the same account as the expenses in Hawaii, according to bank-transfer information that forms part of the Malaysian government probe.
A person who works for De Grisogono confirmed Ms. Rosmah, the prime minister’s wife, was a client of a branch of the jewelers in Porto Cervo, a tony Sardinian resort. De Grisogono declined to comment.
She joined Mr. Najib for his 2014 trip to Hawaii, where Mr. Obama was vacationing, which was supposed to help cement Malaysia’s growing role on a global stage.
The transaction in the Chanel store was paid for with a Visa card in Mr. Najib’s name, according to the Malaysian investigation documents. At first the transaction didn’t go through and Mr. Najib, who was present, had to call his bank to approve the charge, said one of the people aware of the shopping trip.
A spokeswoman for Chanel declined to comment, citing customer privacy.
The credit card was paid for by an account in Mr. Najib’s name, the documents show. That account had been credited with $9 million a few months earlier. The money came from SRC International, the former unit of 1MDB that is now part of the finance ministry, according to documents that form part of an investigation into 1MDB by Malaysia’s anticorruption body.
On the day Mr. Najib played golf with Mr. Obama, SRC International transferred a further $9 million to the account via 1MDB’s corporate social responsibility arm. The money arrived the day after Christmas.
- WSJ

NAJIB & ROSMAH 'BOILED ALIVE' BY 'SHEIKH JHO LOW': EVIDENCE GALORE TO PROVE US$ 375 MIL LETTER IS FAKE

NAJIB & ROSMAH 'BOILED ALIVE' BY 'SHEIKH JHO LOW': EVIDENCE GALORE TO PROVE US$ 375 MIL LETTER IS FAKE
UPDATE - More evidence that this letter is fake. Thank you to the reader for pointing out that the Global Movement of Moderates did not come into being until 2012.
The fake letter below (dated 1 November 2011) claims that the "grant" of US375 million is being made in recognition of Najib's suggestion "to launch the global movement of the (sic) moderates" (grammar pun tak betul).
The phrase "Global Movement of Moderates" did not appear in the media until 2012. Here is the GMM website :
And Saifuddin Abdullah as appointed as the CEO in September 2013.
The writers of the fake letter obviously missed out this point. It is obvious that this letter was written AFTER the Global Movement of Moderates became a news item.
The other thing to note is that on the
letter head the name of the writer is : Saud Abdulaziz Majid AL Saud.
However the letter is signed off as : HRH Prince Saud Abdulaziz al-Saud.
Not only has the 'Majid' disappeared but the spelling of the name has also changed.
'AL Saud' (at the top) versus 'al-Saud' at the bottom.
END OF UPDATE
The Thingy has come out with yet more exposes about the fake prince and the fake letter that has been written.
There are some dead giveaways that this letter is just not right.
The first thing to note is that this letter was written by a Malaysian (obviously).
Because ONLY in Malaysia and Singapore is the spelling of the name "Mohamed" shortened to "Mohd". The Arabs do not shorten Mohamed to 'Mohd'.
His Excellency Dato' Sri Mohd Najib bin Tun Haji Abdul Razak.
In Saudi Arabia, it is always spelt "mohammad".
I lived with the Arabs for about three years and they would question (us Malaysians) what is 'Mohd'? They would pronounce it as 'mode' and ask if it was a new name.
Yes they could have gone to the PMO website. At the PM's website his name is spelled thus :
The Honourable Dato' Sri Mohd Najib bin Tun Abdul Razak.
But they did not go to the PMO website. How do we know that?
Note that at the PMO website, in his official name, the 'Haji' is missing from the 'Tun Abdul Razak'.
But in that Saudi letter the "Haji" has been added to Tun Razak's name.
Only Malaysians would know that Tun Razak's name is often spelt with Tun Haji Abdul Razak. I doubt the Saudi's would know this, or even care.
So if the Saudis got the spelling of the PM's name from the PMO's official website, where did they get the 'Haji'?
'Haji' mana mari?
Plus, the Saudis always say 'Al Haj'. That is the correct way of saying it.
They will never use the word 'Haji' which is a typically Malaysian usage, not Arab usage.
That letter was obviously written by a Malaysian.
Then the letter simply says "I hereby grant you an additional sum of US$375,000,000.."
It does not bother to ask politely,
"I would like to offer you my assistance..' or
'I hope you will kindly agree to accept this token of my appreciation.." or
"I will be happy if you will accept this small gift"
Instead it goes point blank, "Here is the money. US375 million. Just take it !!"
I have another theory why this type of language was used but it will be construed as racial. Ha ha ha. So I wont say it.
Then the letter is signed off by one "HRH Prince Saud Abdulaziz AL Saud" .
Even the King of Saudi Arabia may not use the initials HRH (His Royal Highness).
It sounds really odd.
And this Saud Abdulaziz al Saud character is supposed to be third generation from the Saudi kings - with no ranking in the succession to the throne.
An "entah mana mari" fellow. It will be highly improper for such a low level prince to address himself as an 'HRH' (His Royal Highness).
Finally look at that signature. It is a chicken scratch signature. Saudi princes would sign off in arabic. It is not in arabic. The long 'tail' is actually a 'C' followed by an 'S'.
The letter is a fake.
Here is the Saudi guy who wrote it :
- http://syedsoutsidethebox.blogspot.my/