Wednesday, May 31, 2017

Singapore money laundering penalties show IPIC -1MDB settlement based on false ,fraudulent valuation of relevant assets

by Ganesh Sahathevan

May 30, 2017: MAS serves notice of intention to issue a six-year prohibition order each against Kelvin Ang Wee Keng and Lee Chee Waiy, former NRA Capital head of research; and a three-year ban against Kevin Scully, CEO of NRA Capital. Lee was found to have applied inappropriate methodology and assumptions in the valatiuon of Saudi oil company PetroSaudi Oil Services. Scully failed to ensure that Lee exercised sufficient care, judgement and objectivity in the valuation of PetroSaudi, MAS said.
That  PSOL be over-valued is relevant to the value of the so-called "Cayman units".As 1MDB stated:
"In June 2012, the entire USD1.83 billion amount invested by 1MDB in murabaha notes (in the JV with PSI) was repaid, by way of conversion into shares of Petrosaudi Oil Services Limited, for a value of USD2.22 bil," it said.
In September 2012, 1MDB sold its shares in PetroSaudi Oil Services Limited for US$2.318 billion and received fund units in a Cayman registered fund.
The Cayman registered fund is managed by Bridge Partners, a Hong Kong-based fund manager. These fund units were owned by 1MDB via its 100% subsidiary, Brazen Sky, and held through BSI Bank Singapore as custodian.
These same units are now to be part of the 1MDB-IPIC settlement but given that the base valuation was false, the value of  the "Cayman units" must also be considered to have been compromised. The reason is simple.The "Cayman units" are supposed to be units in a segregated portfolio fund .Being segregated the fund could only have been financed by the PSOL shares,either in cash (if the fund manager liquidated them) or in kind.Put in another way, this is ,in investment terms, a case of  garbage in, garbage out.
In addition , as  this writer has demonstrated, the series of transactions that led to the acquisition of the Cayman units were entirely cashless(see articles below)


REPOSTING:1 MDB confirms Cayman units transaction generated no cash-Analysis from 1 MDB 2013 AR at Sahathevan Blogspot confirmed by 1 MDB itself

Just published by 1 MDB today,confirming what has been published on  Sahathevan Blog since March this year, based on an analysis of 1 MDB's 2013 financial statements:
"In September 2012, 1MDB sold its shares in PetroSaudi Oil Services Limited for USD2.318 billion and received fund units in a Cayman registered fund.
"The Cayman registered fund is managed by Bridge Partners, a Hong Kong-based fund manager.
"These fund units were owned by 1MDB via its 100 percent subsidiary, Brazen Sky, and held through BSI Bank Singapore as custodian," it said in a statement today.

Wednesday, April 22, 2015

Confirmation : 1 MDB transaction generated no cash

by Ganesh Sahathevan
Sarawak Report has just reported   that 1 MDB  banker   "BSI Bank has dismissed documents supplied by 1MDB relating to its Brazen Sky Limited account in Singapore, saying they are false bank statements........ there is no actual cash in the relevant Brazen Sky Limited account."
This confirms the conclusion reached by this writer in an earlier posting about 1 MDB and its financial affairs,titled:

1 MDB audit: AG must &  will find that loss of RM 7 billion in cash was in accordance with proper procedures,accepted accounting practise

In that article 1 MDB's audited 2013 financial statements were presented ,and it was concluded that the transactions 1 MDB's management and directors strenuously  asserted had generated about two billion US dollars in cash, which they said  was eventually placed under 1 MDB subsidiary Brazen Sky Ltd,were  " nothing more than a series of book entries" which 
generated no cash.
In that article it was shown how,despite 1 MDB
management's assertions, the audited  financial
statements actually showed that no cash was generated.
The Sarawak Report story seems to have confirmed the
posted by Ganesh Sahathevan @ 4:39 AM 0 comments

The Najib MO1-Baumgardner affair: Any settlement with the DOJ is now tainted by at least a perception of bias,impropriety

However, this is the Najib Administration and one has learnt to expect more,like this  report by Sarawak Report  about Najib attempting to use a US lobbyist to make the DOJ investigation go away,which includes this paragraph:
Healy later elaborates in the form: “The 45 Group will assist the Republic of Malaysia via the Godfrey Group Ltd with arranging meetings between U.S. government officials and Malaysian officials in support of strengthening relations between the U.S. and the Republic of Malaysia. The 45 Group will also assist the Republic of Malaysia via the Godfrey Group Ltd with coordinating public relations outreach in support of such efforts”.
See full story below)
Given the above, any settlement that the DOJ might come to with Riza Aziz, Najib;s step-son,  or any other party involved in the DOJ's 1MDB asset seizure, which lets Najib off the hook, will be tainted by bias at best, impropriety at worst.
Najib Claims Trump's Pal Lied!

Najib Claims Trump's Pal Lied!

Healey reportedly trades off her continuing good relations with the Trump administration.
If you are desperately trying to curry favour with America, in order to get off corruption charges, ‘dissing’ the President’s pal would appear not to be the way to go about it.
However, yesterday Prime Minister Najib Razak effectively branded Trump’s former advisor turned lobbyist, Healy Baumgardner-Nardone, a liar.
Press secretary, Tengku Sariffuddin Tengku Ahmad, issued this statement in response to the revelation that Baumgardner had registered her interest under FARA (Foreign Agents Registration Unit), which is a strict requirement of all lobbyists working in the United States:
“Contrary to recent media reports and a registration statement, neither the Prime Minister’s Office nor government of Malaysia has instructed, appointed or contracted in any form with the Godfrey Group Ltd, the 45 Group or Healy Baumgardner-Nardone”
That is a comprehensive black and white denial, which implies that Baumgardner falsely registered receiving $250,000 within a series of complex and mysterious lies.
Over several documents, available for free online under FARA’s ‘quick search’ of Active Registrants, Baumgardner’s company, The 45 Group, makes clear and repeated references to the PR job she has netted from the Government of Malaysia, specifically naming Najib Razak and the Prime Minister’s Office in the process.
Has she been hoodwinked?  Is she really supposed to be promoting somebody else entirely?

US Official Documents 

Let’s examine the points that the Prime Minsiter claims are untrue.
In her basic Short Form Registration Statement, registered on 19th May, Healy describes herself as having one foreign client, which she calls ‘The Republic of Malaysia’.  She states that she has been hired via the Godfrey Group Ltd., which turns out to be a BVI company but with an address in Taman Molek, Johor Bahru, as established by opposition MP Rafizi Ramli, who outed the whole affair.
What for? “The 45 Group will assist the Republic of Malaysia via the Godfrey Group Ltd with government relations and public relations services”.  
Healy later elaborates in the form: “The 45 Group will assist the Republic of Malaysia via the Godfrey Group Ltd with arranging meetings between U.S. government officials and Malaysian officials in support of strengthening relations between the U.S. and the Republic of Malaysia. The 45 Group will also assist the Republic of Malaysia via the Godfrey Group Ltd with coordinating public relations outreach in support of such efforts”.
'The Republic of Malaysia'
Malaysians might wonder why it is that they maintain an expensive Embassy in Washington, which is officially tasked with just these duties, if Healy is now to be hired as well?  Except, of course, few will have failed to have developed a suspicion that this is more about boosting the image of the Prime Minister and arguing his case with the US Department of Justice, which is at this very moment examining money laundering offences committed by himself and his son Riza in the United States.
This assumption is strengthened by a second Document, the full Registration Statement, which cites the Office of The Prime Minister as her principal client via the shadowy Godfrey Group with the purpose of “strengthening the U.S. – Malaysian relationship”.
For performing these “Government Relations Services” Healy goes on to state on the same form that she received a payment on May 9th of $250,000 from the Godfrey Group
Has Healy simply dreamed all this up?
Registration form
No mean payment of over a million ringgit on behalf of GOM -
Proceed to Exhibit A in her registration, where she again states the Government of Malaysia and the Office of the Prime Minister as being her clients ‘via the Godfrey Group’ and then goes on to name Prime Minister Dato’ Sri Mohd Najib Razak as the “Official with whom the registrant deals”:
Najib named as the official with whom Healey deals!
Later in the same form Healy again repeats on a number of occasions the very same information about the aim of strengthening Malaysian – US relations and then goes on to be even more specific.  She will be “arranging meetings between US government officials and Malaysian officials and advocating on strengthening relations between the US and the ‘Republic of Malaysia”.
Arranging meetings....
Does Najib and his press team really think that they can convince Malaysians that all this documentation registered by Healy Baumgardner is a series of big fat lies?
Which leads one to question why the Prime Minister is so anxious not to be caught out blatantly hiring an access monger so closely linked to President Trump? Did Najib imagine that by hiring Healy via a BVI company he could somehow circumvent the requirement for her to state her ultimate client and the person on whose behalf she would be lobbying in Washington DC?
This would seem to be the obvious conclusion to make, in which case Najib was badly advised and badly advised also to keep on digging himself into a deeper hole by denying it all now.

Healy Baumgardner

Healy Baumgardner had a career PR before joining the Tump campaign as a Senior Press Representative, a post from which she resigned in September 2016.  Her greatest claim to fame in that position was a car crash TV appearance, in which she found herself unable to defend Tump, who had appeared to praise North Korea’s Kim Jong-un for “taking out” (arbitrarily executing) various members of his family and administration.

Now that Healy has taken on the equally tough job of defending a world class kleptocrat behind the scenes, she should be just as wary of the dangers. Has she, for example, checked the origin of the money with which she is being paid by the shadowy and mysterious Godfrey Group from the BVI?
Frank White faced similar denials and pulled out!
And has she done any homework at all on the background of immense scandal surrounding 1MDB and the criminal investigations currently on-going into her client and his family in ‘The Republic of Malaysia’?
For information she might do worse than pick up the phone to a predecessor linked to the Obama administration, who likewise got caught up in the blandishments and big money offers by Malaysia’s PM, Frank White.
Frank White also registered a FARA relationship with Najib Razak and 1MDB and on that occasion also Najib denied it. Within weeks of Sarawak Report exposing his role back in 2014 White had prudently severed all relations and closed down a half billion dollar investment fund also linked to Malaysia, Aabar and 1MDB.  His consolation appears to have been that he kept a $69 million managment fee in the process.

The problem of Sirul Azhar-ICC president de Gurmendi suggests that Australia should refer the matter of Atlantuyaa Shaariibuu to the ICC

by Ganesh Sahathevan
Speaking recently in Malaysia International Criminal Court president Silvia Fernandez de Gurmendi suggested that the  murder of North Korean Kim Jong-nam  could be referred to the International Criminal Court (ICC).
She made the suggestion despite the fact that Malaysia is not a signatory to the Rome Statute of the International Criminal Court, but noted however that it was still possible for the United Nations Security Council to refer the case to the ICC even if Malaysia was not a signatory to the treaty.
Meanwhile,in Australia, the  matter of Sirul Azhar drags on,with the Australian Government still clueless as to what to do with a man who can look forward to spending the rest of his life at the Villawood Detention Centre.
Australia needs to do something,  for it cannot keep Sirul detained indefinitely. On the other hand,freeing him into the local community is not an option. Could that something be a referral to International Criminal Court in Rome? While the murder Sirul Azhar has been convicted to hang for was committed in Malaysia Malaysia is not a signatory to tthe Rome Statute of the International Criminal Court., but Australia is.
Sirul is now in Australian custody and he is claiming that he is innocent of the charge. Australia will not return him to Malaysia because of popular objection to the death penalty,so Australia has effectively taken complete responsibility for him. Re-trying Sirul in Australia is not practical ,but however the ICC may have the physical and legal resources to do so. ICC intervention,based on a referral from Australia,  may be the only practical way of resolving the impasse.
The ICC investigates crimes against humanity and while it does not usually investigate and hear matters involving the murder of individuals, the matter of Sirul does raise questions of  whether there is in existence in Malaysia a systematic attempt to eliminate those considered a threat to the current leadership.This suspicion arises from the fact that Sirul continues to imply in his defence that he carried out the execution of the Mongolian subject to  so some standing order.In fact, his conviction was distinguished by  the fact that the Malaysian courts which convicted him insisted that in his case, motive for the murder was irrelevant. 
A. Referrals, analyses and investigations
Any State Party to the Rome Statute can request the Office of the Prosecutor to carry out an investigation. A State not party to the Statute can also accept the jurisdiction of the ICC with respect to crimes committed in its territory or by one of its nationals, and request the Office of the Prosecutor to carry out an investigation. The United Nations Security Council may also refer a situation to the Court.

'Flannel' From Australia's Immigration Department

'Flannel' From Australia's Immigration Department

Sarawak Report suggests that striving to tell the truth, rather than sticking to what is convenient, should be a golden rule for public servants and their political masters. Not only because it is right, but because it is awfully embarrassing to be caught in a cover-up.
The Australian Department of Immigration and Border Controls has just proved the point, having exposed itself to ridicule and disappointment in Malaysia, which will reflect on its reputation in Australia also.
This is because it has just issued a nonsensical statement to the ABC programme Four Corners, for no apparent good reason, except to perhaps protect certain individuals, who may have assisted in the making of a series of videos featuring Sirul Azhar Umar, which was plainly recorded within the Villawood detention centre earlier this year.
Protestors at Villawood - normally dressed like Sirul
The statement from the Department persists in claiming that, contrary to all the evidence, it was “not possible” for the video to have been recorded while Sirul was in detention.
This, says the department, is because of the ‘flannel’ behind him and the clothes he is wearing, which could not possibly have been smuggled into the centre.
So, what is so significant about Sirul’s perfectly ordinary attire and his sarong hanging up behind him in front of the window that he could not possibly have had these possessions in his room?
Detainees wear everyday clothes at Villawood, not striped pyjamas or orange jumpsuits – so have the officials of the Department of Immigration seriously investigated all of Sirul’s clothing of the past year, in order to definitively rule out this particular set of shirt and slacks?
And did they not recognise a classic Malay sarong when they saw one, thinking it to be a  ‘flannel backdrop’ instead?

Get a better translation

Minister Peter Dutton, why the dogged denials?
However, it is Sirul’s own words spoken in Malay, which confirm without doubt that the video was recent.
He referred directly to a ‘recent’ press statement given by his two UMNO lawyers in KL, Kamarul Kamaruddin and Hasnal Merican, who had updated the media on his immigration status several months after his detention.
That statement was given in December 2015 and there had been no equivalent earlier press statement given by these two layers in KL in the period before his arrest in Australia, discussing his immigration requests or anything else.
Neither had Sirul hired a legal and immigration team to pursue this immigration request prior to his arrest.
Below is a translation of what Sirul plainly said in the video and it places the timing straight after the press statement the two lawyers gave on December 31st:
“I wish to clarify and further comment with respect to the media statement made by Datuk Kamarul Hisham Kamaruddin and Hasnal Rezua Merican in Kuala Lumpur recently.
Immediately after the statements were made, a few days after that, there are still a number of certain parties who have taken the opportunity to contact me here.
I would like to clarify here that I am not interested at all to make any further statements after this.
As we all know, Datuk Kamarul himself has announced that certain processes, including the Immigration process, the legal process that continue to take place here that requires me to devote.  So, I am devoting the whole of my time, my energy to settle here as per my application process to settle here..”
Yet, in the face of this, the communications team representing Immigration & Borders Minister Peter Dutton claim that they have had two Malay translators examine the material, who have assured them that Sirul’s references were of a “generalised nature.. including references to immigration and legal processes [which] are consistent with those underway immediately prior to the detainee’s entry to detention”.
They should get a third, more accurate translator and further explain how Sirul was pursuing an immigration case before his arrest, when his immigration and legal advisors only started off the process after his detention?
The facts of the matter are that Sirul was detained on 20th January 2015 after he failed to gain an extension to his tourist visa. It was only on the day he was detained that he first made a verbal request for a protection visa, which he is now attempting to achieve.
He did not obtain lawyers until later, when the UMNO team was sent from KL and hired local representation on his behalf, using sources of money which have yet to be explained. Therefore, Sirul could not have referred to lawyers speaking publicly about his immigration issues before being arrested and detained – there were no lawyers at that time and no case underway.

‘Conspiracy to topple Najib’

A further point has been widely made about this series of video episodes (released very much in the telling genre of a classic Ramesh Rao disinformation campaign), which is that the substance focuses entirely on the perception of a “plot” against the Prime Minister, a concept which did not emerge until after the exposes over 1MDB, which happened several weeks after Sirul had been detained.
“I mean what is the importance for some interested people to want to topple a person?
Sirul announces in the 3rd ‘episode’, prompting many to question how Sirul acquired such foresight about a debate that would only be raging months after his arrest and, if so, why he waited so long to release his supportive comments of the boss he once attacked for making him a scapegoat?

No rules against making prison videos

Altogether it seems entirely idiotic, therefore, for the Department of Immigration to be sticking doggedly to a nonsensical argument, for no apparent good reason beyond the fact that officials plainly still believe they can stone wall further examination.
This is not least because in a separate statement to Australia’s 60 Minutes programme, who are also on the story, officials from the very same department made clear that there is no rule preventing Sirul making such a recording if he wants to:
“In another letter to 60 Minutes, the Australian Border Force said immigration detainees are free to contact any media representative.
“People in detention have access to computers, the internet, social media and telephones and there are no restrictions on who they may contact,” [Malaysiakini]
In which case, why all the fuss and denial by the Australian authorities?
To anyone looking at these video offerings, it seems evident that Sirul set himself on a chair in front of a window with a sarong across to block out the light and then spoke looking down into a camera on an open computer in front of him, as in a typical Skype call.
The Ramesh Rao team with Lester - another paid video episode confession maker
All Malaysia has concluded that this was just another Ramesh Rao production, using a paid confession-maker reciting from a pre-prepared script, with the sole purpose of exonerating Rao’s hero Najib Razak.
The same technique of chopping the ‘confessions’ into episodes is also familiar to those who have already laughed at the ‘Lester Melanyi files’… even up to the failure to deliver on promised final bombshell episodes, such as the missing ‘part 4″ of the Sirul production, which the makers have evidently bottled out of releasing.
The same Ramesh line up - this time the confession maker was Selvi Bala
So, why are the Australian authorities working so hard to box themselves into a corner to deny that these videos were filmed with Sirul in detention, once the UMNO legal team had moved in to control and pay off Sirul, when they themselves have admitted that he was perfectly entitled to make such a video if he wanted to?
Is it because the Department does not want to open up and address the wider concerns about the blatant and illicit Malaysian political interference in the handling of Sirul’s legal affairs in Australia?
Altantuya was murdered by Sirul - who originally attempted to blackmail Najib before changing his tune in jail
Or, is it also because certain quarters in Australia still cling to working with Najib, despite this inappropriate and illegal interference in a troubling murder case, in order to achieve their separate deportation objectives?
These, of course, involve sending other asylum seekers over to indefinite detention in Malaysia, where Najib has kindly agreed to take them off Australia’s hands.
BN has an appalling recent record on people trafficking; it has been widely admonished also for its failures to observe UN refugee guidelines and for widespread abuse of foreign workers.
Nevertheless, it appears that some in Australia remain willing to join the ranks of opportunists ready to bend the rules over Najib Razak, in return for favours rendered.


Sirul Azhar Umar has become hot property: Evidence that Jho Low may have created the market

by Ganesh Sahathevan
Evidence is emerging that someone in Taipei, Taiwan, has been informed of this writer's queries concerning the matter of Sirul.The emergence of this evidence coincides with Sarawak Report's revelation that Low Taek Jho, aka Jho Low, has sought 
refuge in Taiwan.   Given that Jho Low has been "tied to the 1 MDB inquiry"  a link between 1 MDB and and the matter of Sirul Azhar Umar may soon become apparent.
While in detention Sirul's ability to receive any significant amount of cash  is non-existent.It is highly unlikely that he even has a bank account in Australia.The same can be said for his teenage son who remains in Australia. Even if released any receipt of funds on their part will be very closely scrutinized.
Consequently all this money or promise of money swirling around Sirul is indicative only of a presumed right to keep him silent.For so long as he remains in detention others can lay claim to that right,and trade it with anyone who is willing to pay. It appears that Jho Low created the market but it is unclear if he still has the finances to keep that market liquid. With accounts being frozen in Singapore and Malaysia it is likely that the market has dried up.Nevertheless, some may be living in hope.
While Sirul Azhar Umar   remains unrepresented those who have laid claim over him, or who have been reported to be his legal advisors   have refused to say who pays or has promised to pay for their services.
Nevertheless whatever is or was   on offer to guide  Sirul  through his troubles must be significant, for how else does one explain this fiercely possessive  reaction from  Christopher Levingston, an immigration lawyer who was asked to clarify his position vis a vis Sirul:
You have no standing nor do you have any legitimate interest in this matter.
Your attempts to interpose yourself and your strategy of “divide and rule” is not only unprofessional but also unethical.
Posted 19th August 2015 by Ganesh Sahathevan

Sunday, May 21, 2017

Adding to the evidence provided by Riza Aziz against Mummy ::Rosmah's lawyer Noorhajran did not deny that Rosmah Mansor is a signatory for the Eric Tan/Jho Low BSI accounts

by Ganesh Sahathevan

Rosmah Mansor - victim of malicious fake news disseminated by irresponsible and unscrupulous quarters.

It has been previously reported on this blog that evidence of Rosmah Mansor's is emerging,out of documents filed in the US, as Riza Aziz fights the DOJ to recover assets acquired with funds 
stolen from 1MDB.

These revelations should be read with this earlier article by this article from a related blog,where Rosmah's lawyer did not deny that she was a signatory for the Eric Tan/Jho Low accounts at the former BSI Bank.
Taken together there is evidence of Rosmah's role at the main and subsidiary levels of the 1MDB theft,directing the flow from the original theft,and then managing the funds parked in various subsidiary accounts.




by Ganesh Sahathevan

From Malaysia Outlook:

The legal firm of Messrs Noorhajran Mohd Noor has been authorised by Datin Seri Rosmah Mansor (hereinafter referred to as the ‘client’) to issue this media statement

This is a general statement issued on behalf of the client to the public pertaining to accusations and falsifications of facts against Datin Seri Rosmah Mansor.

Attention is drawn to a story carried by bloggers and social media postings recently.

The allegations are those to the innuendoes made that “Rosmah was the one who signed the cheques as Eric Tan”.
This media statement is issued, in relation to above, cross-referenced with the statement of facts made by the Attorney-General of Singapore dated Jan 10, 2017 pertaining to the case of Public Prosecutor v Jens Fred Sturzenegger.

Through the statement of facts issued by the AG’s Chamber of Singapore, there was nothing mentioned in the said statement indicative of the allegations made in the social media of the purported role played by Rosmah Mansor.

These allegations are serious, intended to make representations, publishes imputations intending to harm or knowing or having reasons to believe that such imputations will harm the reputation and done with malicious intent to destroy and reduce credibility of Rosmah Mansor as the wife the Prime Minister of Malaysia Dato Seri Mohd Najib Tun Abdul Razak.

However , that is not what is alleged by the Sarawak Report story on Eric Tan and Rosmah Mansor, which has been quoted and referred to by others.The relevant parts of the Sarawak Report story state:

Who was the actual signatory on the accounts?

That Tan was actually Low confirms the point made by Sarawak Report that someone who has stolen billions of dollars would be highly unlikely to trust the money in the hands of another.  It was for this reason that it was obvious Low would not have put a genuine associate in control of these vast accounts.
However, Low was not the only player behind this sorry saga and there were others who likewise were anxious for their own assurances.
Sarawak Report has heard through very well-placed sources that there was therefore a check on the use of these accounts, which was that the actual signatory was not Jho nor Eric, but someone else.  That signature was needed to authorise payments.
Sarawak Report has been told that this signatory was a woman with whom Jho Low was closely associated in the matter of 1MDB.  So, when insiders informed us over a year ago that Rosmah Mansor had complained over Jho Low’s spending, exclaiming “It’s my money as well”, perhaps this is what they were referring to?

Put simply, Sarawak Report alleges that Rosmah Mansor's signature was required for any disbursements from the account. Rosmah's lawyer Noorhajran Mohd Noor has not denied that and instead denied forgery. A simple ,somewhat child like attempt to deny something that is not, in an attempt to be seen to be denying the allegation.

Who Was The Signatory On The Eric Tan Account?

Who Was The Signatory On The 

Eric Tan Account?

Last week Sarawak Report connected the dots and concluded that the name of ‘Eric Tan’, the beneficial owner of several 1MDB related bank accounts, appeared to be merely an alias for the master-mind behind the thefts, Jho Low.
Now, the Singapore court has confirmed this suspicion, explaining that the Falcon Bank branch boss, Jans Sturzenegger, had confessed that Jho Low told him he used the identity on certain occasions ‘for security purposes‘. Sturzenegger was sentenced to 28 weeks jail and a fine for initially lying to the authorities and failing to report suspicious transactions, making him the first western banker to be convicted in this affair.
Jans Sturzeneggar 'saw Eric Tan's passport'
Jans Sturzeneggar ‘saw Eric Tan’s passport’
However, Sturzenegger is also reported as having claimed that he knew Eric Tan did actually exist, because he had been provided with a passport and a CV.
Anyone who has opened a bank account will know that somewhat more proof of identity than that is generally required to open an account – most particularly the would-be account holder needs to present themselves at the bank. In fact, Low had just impersonated Tan.
But, this matter now presses most on the Swiss side of the investigation. Sturzenegger, after all, was fairly far down the food chain at Falcon Bank and he was plainly carrying out his bosses’ orders. In particular, the CEO Eduardo Leemann, who first introduced ‘Eric Tan’ to Sturzenegger by email in January of 2012. The Singapore manager had not realised that his correspondent was Jho Low until he met him the following month.
The same Swiss bosses then pressured Sturzenegger to pass some $1.2 billion through these 1MDB related accounts, even though he was fearful and suspicious it might be money-laundering. He knew he should have reported the enormous transactions.
Acting casual in Dubai, Eduardo Leemann
Acting casual in Dubai, Eduardo Leemann
A former Goldman Sachs senior executive before moving to Falcon, Leemann has in the past seen fit to lecture that there needs to be far less regulation of banks. We suggest that his conduct makes clear that the exact opposite is the case and the Swiss prosecutors should make him and his colleagues a powerful example.
Criminal proceedings against Falcon were announced in Swizerland on 13th October. Two days earlier the regulator FINMA had recommended charges against two of its former senior executives, which Sarawak Report speculated ought include Leemann.
Meanwhile, the enormous half billion dollar backhanders to the over-all Abu Dhabi Aabar boss, Khadem Al Quabaisi, becomes more explicable – he had put his sovereign wealth fund and its private bank at the disposal of Jho Low to launder money from 1MDB.
What the Singapore authorities need to answer more fully is how their own flagship bank, Standard Chartered also ended up running a bogus Eric Tan account on behalf of Jho Low, laundering hundreds of millions through the so-called Blackstone Asia Real Estate Partners account.?
Why has Standard Chartered, by contrast, got off relatively lightly with a low key investigation and a modest fine – were they not equally culpable of funnelling hundreds of millions through an account run by a front?

Who was the actual signatory on the accounts?

That Tan was actually Low confirms the point made by Sarawak Report that someone who has stolen billions of dollars would be highly unlikely to trust the money in the hands of another.  It was for this reason that it was obvious Low would not have put a genuine associate in control of these vast accounts.
However, Low was not the only player behind this sorry saga and there were others who likewise were anxious for their own assurances.
Sarawak Report has heard through very well-placed sources that there was therefore a check on the use of these accounts, which was that the actual signatory was not Jho nor Eric, but someone else.  That signature was needed to authorise payments.
Sarawak Report has been told that this signatory was a woman with whom Jho Low was closely associated in the matter of 1MDB.  So, when insiders informed us over a year ago that Rosmah Mansor had complained over Jho Low’s spending, exclaiming “It’s my money as well”, perhaps this is what they were referring to?

Saturday, May 20, 2017

Saudi's King Salman & Malaysia's PM Najib help Muslim preacher Zakir Naik,wanted for terrorism, evade arrest in India-Meanwhile, Salman wants to convince Trump that he can be trusted to fight terrorism

by Ganesh Sahathevan

These stories say it all.

Saturday, 20 May 2017 | MYT 12:07 PM

Zakir Naik granted Saudi citizenship

PETALING JAYA: Saudi Arabia has granted citizenship to controversial preacher Dr Zakir Naik (pic), who has an Interpol Red Notice on him calling for his arrest.

Dr Zakir is a wanted man in India for allegedly financing terror activities and money-laundering.
According to the Middle East Monitor, the 51-year-old preacher left India last year in an apparent bid to evade arrest.
This was after some of those involved in the Dhaka terror attack, which saw people hacked to death, claimed that they were inspired by him.
Indian enforcement officials have revoked Dr Zakir's passport and approached Interpol to issue a Red Notice, which requests member nations to locate and provisionally arrest an individual pending extradition.
The Middle East Monitor reported that Dr Zakir, who was in Saudi Arabia, would be forced to return to India if his passport was revoked.
The portal said the Mumbai passport office did not appear to have anticipated Saudi Arabia granting citizenship to him and moved to revoke his passport while a special court sent out an arrest warrant for him.
Dr Zakir was denied entry into Canada and the United Kingdom in 2012 after reportedly expressing support for terrorist group Al-Qaeda.
Peace TV, his television channel, has also been banned in Bangladesh, Canada and in the United Kingdom.
However, it recently came to light that he was given Permanent Resident (PR) status in Malaysia five years ago.
Dr Zakir's recent presence in Malaysia had ruffled the feathers of MIC Youth, which has lodged multiple police reports against him.
Saturday, 20 May 2017 | MYT 7:57 PM

Najib: Malaysia to work with US and other Muslim countries in fighting extremism

Najib and Rosmah (left) greeted by Riyadh vice-governor Prince Mohammed Abdulrahman at the King Salman Air Base in Saudi Arabia
Najib and Rosmah (left) greeted by Riyadh vice-governor Prince Mohammed Abdulrahman at the King Salman Air Base in Saudi Arabia
PETALING JAYA: Malaysia will work together with the United States and other Muslim countries to fight the threats of terrorism and violent extremism, said Prime Minister Datuk Seri Najib Tun Razak.

Najib is currently in Saudi Arabia for a three-day working visit to participate in the Arab-Islamic-US Summit, where terrorism and violent extremism is high on the agenda.
His visit has coincided with the state visit of United States President Donald Trump to Saudi Arabia.
"I believe that this summit represents an important attempt to bring ties between the Muslim world and the US to new levels," said Najib in a blog post on Saturday.
"With even greater mutual understanding, we can work together all the better to fight the ignorance, exclusion and sense of grievance that can fuel violent extremism," he said.
Najib said that all the countries at the summit are committed to eradicating the Islamic State (IS).
"We must ensure that the barbarism we see in Syria and Iraq is rooted out," he said.
"We must show that we stand ready to confront terror swiftly and decisively wherever and whenever it manifests itself. We must never surrender," he added.
Najib said the summit presents an opportunity to forge a partnership to "stand united together as one" and be firm and "ready to act".
"I am confident that this gathering will renew and re-energise the friendship between all present and produce new roadmaps for cooperation, security and understanding," he said.
He said that he is also willing to share Malaysia's experience and expertise in dealing with the threat at the summit.
Najib said the threat of terrorism still remains high, and that few countries have been spared by the violence.
He said even Malaysia had suffered from an IS-linked attack last year when two men threw a hand grenade at a nightclub in Puchong, injuring eight people.
"It is only through the determined, heroic actions of our police and security forces that there were no fatalities and further atrocities have been thwarted.
"It is crucial that all Muslim countries and leaders make it absolutely clear that there is nothing Islamic about terrorism," said Najib.
"Any who say it is have been deceived by false preachers and by those who are ignorant of or misinformed about our religion," he said.
Najib said that "authentic Islam" is a religion of enlightenment, civilisation and scholarship, not of destruction and death.
"Malaysia will never falter in our efforts to fight for moderation and the true path of Islam, and to say loudly and clearly to the extremists that they do not speak for us," he said.