I guess the true picture about the Mysterious Cayman Chameleon Units is emerging:
“In Day 2 of the trial on Tuesday, prosecutors revealed that Yeo quit his job at BSI to work for Malaysian tycoon Low Taek Jho, who is accused of siphoning billions from 1MDB.
Mr Swampillai, a 52-year-old Malaysian who was suspended from BSI and is now unemployed, testified that he and Yeo made millions in “secret profits” from their 1MDB dealings.
The pair set up shell companies Bridge Partners International Management (BPIM) and Bridge Global Managers to receive the “secret profits”, which were then channelled to companies owned by Yeo and Mr Swampillai – Bridgerock Investment and GTB Investment respectively.
In September 2012, 1MDB sold its shares in a venture for US$2.32 billion and received units in BPIM. 1MDB earlier said the units were owned by Brazen Sky, and held through Swiss bank BSI in Singapore as custodian.” – SOURCE
So it was Shell Companies created by someone who is under trial for fraud, money laundering etc….in Singapore.
And guess who the Auditors of 1MDB met in order to validate the Values of the Units being held at BSI?
None other than Mr. Swampillai.
Check out PAC Report attached:
Key take away is that:
1. Units are Fake since the so called Petro Saudi Oil Services is also a fraudulent company 2. Fund Manager is a Shell Company 3. Custodian was also acting in concert with Fake Fund Manager 4. Units were “redeemed” and paid to Fake Aabar (bullshit refer PAC report) 5. Fake Aabar “undertook a purchase of remaining Units” 940Million with Deferred Payment 6. Fake Aabar CLOSED DOWN and IPIC will not assume any responsibility or liabilities of Fake Aabar.
So come on forward all you who think that the Units HAVE ANY VALUE.
Dah la tu Jibby supporters….
Takkan la you all still nak defend Jibby lagi…
He’s been giving crappy tales to all of us….only the “uninformed” like his Cabinet members would believe this crap.