ROSMAH A GREEDY WOMAN OR PLAIN DUMB – OR NEITHER? FEARS OF A LEBANESE SCAM GROW – WHY WOULD JEWELLER SUE HER FOR RM60 MILLION WHEN IT’S OBVIOUS SHE WON’T PAY – OR RISK GETTING INTO MORE TROUBLE OVER ‘HIDDEN’ CASH STASHES ALL OVER THE WORLD

For years, Global Royalty Trading SAL, has been milking awesome profits from Rosmah Mansor, who in turned milked taxpayers money to satisfy her penchant for expensive and exotic jewellery. Global Royalty, a Lebanese jeweller with an outlet in Star Hill Gallery located in the Golden Triangle, Kuala Lumpur, is now looking at a complete loss – RM60 million (US$14.8 million).

The name Global Royalty suddenly dropped from the sky as the world read with astonishment 12,000 pieces of jewellery – comprising 2,200 rings, 1,400 necklaces, 2,100 bracelets, 2,800 pairs of earrings, 1,600 brooches and 14 tiaras – were seized by Malaysian authorities from six residences related to ex-prime minister Najib Razak and his family members.

According to the Malaysian police, the value of those jewellery items was estimated to be about RM440 million – excluding workmanship costs. The most expensive item was a necklace with a white diamond that was valued at RM6.4 million. The market value of those items would be about 50 to 100% more, hence the total value was estimated to be between RM600 million to RM800 million.

Global Royalty claims that 44 of the 12,000 pieces of the jewellery seized belongs to them. The Lebanese company cited a letter dated May 22 in which Rosmah allegedly acknowledged receipt of the jewellery. However, it said in its statement of claim that the items were no longer with Rosmah, wife of Najib, as they had been seized by the authorities.

It was a slap in the face of Najib Razak who had earlier claimed that the 12,000 pieces of jewellery were “gifts”. It may sound ridiculous but coming from the ex-prime minister who had claimed US$681 million (RM2.6 billion) cash discovered in his private accounts was “donations”, people were not that surprised anymore. After all, this is the most shameless thief in Asia.

Still, the claims have raised eye-brows over the date Rosmah, ex-FLOM (First Lady of Malaysia), allegedly acknowledged receipt of the jewellery. It was extraordinary that Rosmah had the pleasure and leisure to sign on the dotted lines about 2 weeks “after” his husband lost power in the 14th general election held on May 9, 2018.

Based in Beirut, Lebanon, the firm alleged that the jewellery delivered to the wife of former premier Najib Razak was for her to evaluate and thereafter purchase those she selected. It explained that Rosmah would issue payment on her own capacity or via third parties for jewellery she selected, while the balance pieces would be returned.

The delivery of the 44 pieces of jewellery worth US$14,787,770 (RM60,037,150) was allegedly done on 10 February through salesperson / agent named Samer Halimeh. But would Rosmah be so dumb as to sign the receipt of the jewellery several days after police raided the luxury residences and offices related to his husband Najib, which begun on May 16?

Perhaps the panicked Rosmah Mansor was indeed not only a greedy woman, but also a dumb ex-FLOM. Perhaps she was deeply depressed when she wrote that the jewellery consigned to her was no longer in her possession but had been seized by the Malaysian authorities. However, the whole episode could also be a scam to test the system.

Starting with 44 pieces of jewellery, the evil plan could be expanded to claim for the rest of the 12,000 jewellery if Malaysian authorities stupidly allow the claims made by Global Royalty. Rosmah could easily work with other jewellers around the world in cooking up documents as proof that those jewellery were sent to the ex-FLOM for viewing, without obligation to buy.

When all the 12,000 jewellery are returned to the so-called rightful jewellers or owners, there won’t be any proof left to say Najib and Rosmah have stolen money from the national coffers. It was quite a brilliant plan – except that those 44 pieces of jewellery might not have been declared to the Custom Department when they were brought into Malaysia.

Why they were not declared but “smuggled” into the country for Rosmah’s viewing pleasure, arguably the Marcos of Malaysia? That has to do with an earlier experience when the infamous RM24 million diamond ring shipped by American jeweller Jacob & Co and went through the Custom Department under the name of Rosmah Mansor in 2011.

The RM24 million diamond ring had triggered uproar among the people over the lavish spending of the First Family of Malaysia. Shipped from New York to Malaysia on 15 April, 2011 and was subsequently returned to Jacob & Co on 13 May, 2011, the backlash saw a new spin that it was for the purpose of showing the ring to Maira Nazarbayev, whose son was engaged to Rosmah and Najib’s daughter.

That explains the wiser and smarter Rosmah Mansor took the alternative of not declaring the 44 jewellery to the Custom Department. But somehow the God has a wonderful plan for Najib and Rosmah. The people decided to overthrow the out-of-touch first couple. Without proof that those jewellery was brought in legally, they are considered smuggled or stolen goods.

Therefore, the Government of Malaysia can seize and never return them. Even if they have been declared, only Rosmah, and not Global Royalty, can claim them from the authorities. So far, Inspector-General of Police Mohamad Fuzi Harun said the police had yet to receive any application from Rosmah Mansor to reclaim the seized jewellery.

Obviously, Rosmah has no intention to reclaim the jewellery simply because to do so will subject her to more grilling and interrogation of her past purchases from the Lebanese jeweller. Global Royalty Trading SAL’s lawyer David Gurupatham said if Customs Department were to seize the 44 pieces of jewellery, then the former prime minister’s wife would have to pay for them.

Well, good luck with that. Global Royalty can sue Rosmah until her hair becomes a rice cooker, but she won’t pay for obvious reason. As her accounts have been frozen, she can’t pay even if she wants to. Even if her accounts are unfrozen, she doesn’t care to pay. Rosmah is willing to be declared bankrupt rather than pay for the jewellery and opens a can of can of worms.

– Finance Twitter