Sunday, February 12, 2023

Promises of rewards on earth and in heaven by  their pastor, former OUE CEO Thio Gim Hock may have led City Mission Kallang members into the Cellos financial disaster- Church members may be able to recover losses from all involved,  including pastor and property tycoon Thio's estate

 b y Ganesh Sahathevan 


In the continuing  Cellos Software Ltd saga much is being revealed in ongoing Federal Court proceedings in Australia. Among the revelations is the excerpt below from the judgement of Mr Justice Beach which includes correspondence from former Cellos director Constance Peck (at paragraph 309): 

  1. The “profit”went back to CellOS, to Christian work, to charity and to the same of the people who bought at USD5.00.
Melvin (Tan) gave away all and more than the money that he made from these transactions - to Anthony Cooper and Andrea’s charities, to Thio Gim Hock’s missionary outreaches, and to many needy people and church needs - I can absolutely vouch for that. He has kept nothing of the profit - and the Lord has just been blessing him immeasurably. Let him tell you his stories of the goodness of God to him. The new BMW that Melvin now drives are indeed a gift from a grateful investor in stocks that have already made them a lot of money..


The attribution of earthly wealth to heavenly elements  is common  in the protestant churches.  The term prosperity theology and  prosperity gospel have been used to describe the phenomenon

Prosperity theology has worked well for the pastors or leaders of the churches that promote it. In the case of Cellos Thio received a share of the profits from the sale of discounted shares  and was also paid what appears to be a commission for introducing investors. It is believed that he  had led his congregation in praying for the success of the Cellos venture, which included a NASDAQ IPO. It is also understood that the prayers were part of the share sale promotion. 

This promise of earthly and heavenly rewards can easily confuse and  mislead investors. Thio, who has been described as a property tycoon, was after all a pastor to his parishioners and therefore in a position of trust. 

The information that is now available publicly in the Australian judgements provide City Mission Kallang members who have lost money of their Cellos investments the means, or at least part of the means, to pursue Thio and others who led them into the investment. 

Thio has passed away, but they can probably pursue the late tycoon's estate. 



TO BE READ WITH 



Friday, February 10, 2023

Praise The Lord- The financial martyrdom of City Mission Church Singapore members at the hand of their pastor, former OUE CEO Thio Gim Hock is a lesson in the punishment that can befall those who serve God and Mammon

 by Ganesh Sahathevan 

                                                      


 Former OUE CEO and evangelist Thio Gim Hock has been called home to the Lord








As previously reported on this blog  Cellos Software Ltd, a company incorporated in Australia but with its business in Singapore, has been put into liquidation. Ongoing legal proceedings before the Federal Court in Australia suggest the company has nothing, not even the funds to pay its lawyers.Shareholders are therefore likely to lose everything they have invested. Many of the shareholders of this public unlisted company are likely to be members of Singapore's City Mission Church CMC), Kallang.



One had to be a Christian (and member of the CMC) to be offered "special" Cellos. shares. In one of a number pf proceedings before the Federal Court  heard by Mr Justice Beach, the Court found that former director Constance Peck had acted as broker between Cellos and members of the CMC: 

  1. On 17 July 2014, Mrs (Constance)  Peck exchanged WhatsApp messages with Mr Chris Ho, who was a potential purchaser of CellOS shares. Apparently Mr Ho wished to bring a friend to an investor presentation, although the friend was not a Christian. Mrs Peck replied:
The preferential price of USD5.00 per share is a friendly price for Christians n we will require them to do a pledge. Tithe on profit at listing. Non-believers – it’s an arm’s length commercial deal. We open at USD 10.00. Some brokers quote higher. I leave it to the brokers.


The court also found that Mrs Peck had paid a pastor of the CMC, former OUE chief executive Thio Gim Hock, what appears to be a commission on the purchase of shares: 

  1. As to “piggy-backing”, at various times between July 2013 and July 2014, Mrs Peck allowed certain friends to, as she described it, “piggy back” on her further purchases of US$2 shares through Mr Huber (the former CEO)..........
  2. One example of piggy-backing was the transfer of shares by Mrs Peck to Mr Anthony Cooper and his relatives for US$2 per share. A further example of piggy-backing was the transfer of shares at US$2 per share to Yong Weng Kong (also known as Mr Albert Yong), Mr Yong’s wife Heng Mui Kheng (also known as Ms Lillian Heng), KA Chang and  Thio Gim Hock  as a “reward” for their efforts in introducing high net-worth investors to CellOS.
There is further reference to Thio Gim Hock in paragraph 309:
  1. The “profit” went back to CellOS, to Christian work, to charity and to the same of the people who bought at USD5.00.
Melvin (another Cellos promoter) gave away all and more than the money that he made from these transactions - to Anthony Cooper and Andrea’s charities, to  Thio Gim Hock ’s missionary outreaches, and to many needy people and church needs - I can absolutely vouch for that. He has kept nothing of the profit - and the Lord has just been blessing him immeasurably. Let him tell you his stories of the goodness of God to him. The new BMW that Melvin now drives are indeed a gift from a grateful investor in stocks that have already made them a lot of money,

Mr Thio is understood to have encouraged his congregation to invest in the Cellos special price Christian only shares, so that they might better serve The Lord. His exhortation would undoubtedly have benefited Ms Peck in her riskless arbitrage, which she described as hard work.  Judge Beach discloses in his judgement:  


  1. As I have set out earlier, on 8 October 2013, Mrs Peck wrote to Mr Huber, copied to Mr Peck, in the context of her work selling shares with Mr Tan to new investors:
3 THE USD5.00 SHARE TRANSACTIONS – ARE THEY ETHICAL?

These are shares that belong to investors who bought many shares in the past but expected the listing on Nasdaq to take place this year. Since it is not likely to happen in 2013, they need to offload some to realise the cash tied up for other pressing needs. They still hold many CellOS shares. They are/were willing to recover their money (at USD2.00 per share) and we are/were in a position to buy and then sell to our investors at prices ranging from USD2.00 to USD5.00 (not always USD5.00).

...
 I have never worked so hard in my life - selling USD2.00 CellOS shares to raise funds directly for CellOS and then selling USD5.00 shares to raise funds indirectly for CellOS. (Of course for me, the Pledge - and therefore raising funds for the church is a great motivation).”


Cellos liquidation means shareholders, and The Lord get nothing, despite Mrs Peck "never (having) worked so hard in (her) life". It does seem as The Lord has punished those who attempted to serve Mammon and He. Mr Thio Gim Hock has gone home to The Lord. 


TO BE READ WITH 

Cellos Software, backed by members of Singapore’s elite , including members of a church, put into liquidation in Australia.

 

 

ASIS overseen by a minister and deputy minister who both have ties to China; Penny Wong, and Tim Watts who is married to Joyce Kwok of Hong Kong - Wong & Watts both believe Australia is racist

 by Ganesh Sahathevan


                       Labor MP Tim Watts (right) with Penny Wong and her father, Francis Wong




The minister who oversees the Australian Secret Intelligence Service (ASIS), is the current Foreign Minister, Penny Wong.  Her assistant is Tim Watts, who is married Joyce Watts nee Kwok , originally from Hong Kong.

Wong's China links are well reported, and her family's United Front links remain unexplained.  Instead, there has been false re-telling of the history of the Chinese in Sabah, in an attempt to accuse the UK of not "confronting" its colonial past. 

In his inaugural speech to Parliament as ALP Member for Gellibrand, Watts said: 



My wife and her family came to this country from Hong Kong in 1985, seeking the same freedom and opportunity in our nation as (his ancestor) John Watts did nearly 150 years before. They brought with them a different language and cultural tradition, but they shared the same desire and determination to be the architects of a better life for themselves and their children. To my in-laws Wang and Dominica Kwok, I thank you for welcoming me into your family and supporting Joyce and I in this difficult expedition into political life.

Watts, like Wong, is in no doubt that Australia is a racist country that has much to learn about Asia.

(see also the review of his book below).

China is Australia's  most significant external threat, and ASIS officers must feel free to gather intelligence about China and its activities without fear of offending their ministers. Wong and Watt's China links make that impossible.  

The Australian intelligence community was once concerned about former Prime Minister Malcolm Turnbull's links to China via his daughter-in-law; the Wong and Watt China connection may be more problematic for they oversee the intelligence gathering and counterintelligence operations against China. 



TO BE READ WITH 

Tim Watt's masterly The Golden Country: Australia’s Changing Identity, review by Peter Mares:


The Golden Country: Australia’s Changing Identity
By Tim Watts | Text | $32.99 | 231 pages



In 1962 prime minister Robert Menzies contemplated the impact migration would have on the nation in fifty years’ time — the era we now live in. He imagined that Australians would be “a different people — not detached from our old anchors, not detached from our old traditions, but enriched by new ones.” He anticipated that Australia would become something “rich and strange.”

As a hold-out defender of the White Australia policy in its dying decade, Menzies might find contemporary Australia very strange indeed. But he was right to predict that we haven’t detached ourselves from our old anchors and traditions; in fact, we are weighed down by them.

That, in large part, is the thesis of Tim Watts’s book. Watts celebrates Australia as “a nation that combines stable Westminster institutions, an open economy, and a liberal society with a young, dynamic and diverse population.” But it is held back, he says, by the “psychological hangover” of the White Australia policy:


The Australian identity of the past excludes too many of us and doesn’t speak to many others. It doesn’t bind us together in a sense of common purpose, a sense that what happens to one of us should matter to all of us. And our national symbols are increasingly used by people who want to divide us, rather than bring us together.

The ill effects of our hangover are felt in executive suites, courts, lecture theatres, newsrooms and parliaments. There are more CEOs called Peter in the ASX 200 companies than there are Asian Australians. Australians with an Asian heritage make up about 15 per cent of the population but account for just 3.1 per cent of partners in law firms, 1.6 per cent of barristers and 0.8 per cent of judges. Australia’s thirty-nine universities host more than a quarter of a million students from Asia, but there is only one vice-chancellor from a non-European background. All members of the ABC board are white, and the national broadcaster’s senior executives and content-makers don’t reflect the diversity of Australian society either. Asian Australians hold just five out of the 226 seats in the national parliament, and the top ranks of the public service are even less representative.

As Watts notes, this is not a uniquely Australian problem, but the statistics suggest that we perform far worse than comparable settler societies like the United States and Canada, and even former colonial powers like Britain. It seems little has changed since we attempted to become Asia-literate under Bob Hawke and debated whether Australia was an Asian nation under Paul Keating. In 2010, academics Andrew Markus, James Jupp and Peter McDonald wrote of the “paradox” that contemporary Australia is “a multicultural society with monocultural institutions.” As Watts puts it, we have “practically dismantled, but never quite symbolically disowned, the White Australia policy” and “the way we shaped our national identity in the past shapes our national symbols and institutions today.”

Tim Watts is Labor’s shadow assistant communications and cyber security minister and represents the federal seat of Gellibrand in Melbourne’s west. As he says proudly on his website, this is “one of the most diverse electorates in the country” with nearly two-thirds of residents born overseas or having a parent born overseas.

It is refreshing to find a serving politician writing a book that is not a naked exercise in self-promotion. It is especially welcome when that politician engages with complex and contested areas of public policy — national identity, immigration, multiculturalism — that carry significant electoral risk. Despite the obligatory genuflection to Australia as “the best country in the world,” his approach is open and critical. What is more, Watts writes clearly and engagingly. He deftly weaves his own family history into the narrative, opening with a visit to the Gum San (Gold Mountain) Chinese Heritage Centre in Ararat with his four-year-old Hong Kong Chinese–Australian son, and soberly documenting the darker exploits of his pioneering ancestors: Charles Nantes, a nineteen-year-old member of South Australia’s first fleet who arrived on the Africaine, and John Watts, the first MP to represent the Darling Downs in Queensland’s colonial parliament.

Nantes later moved to Geelong, became a member of the local Anti-Chinese Committee and helped lobby for the introduction of prohibitive poll taxes to deter Chinese migrants from landing in Victoria during the gold rush. The Chinese were forced to land at Robe in South Australia instead, and walk hundreds of kilometres overland to the diggings. John Watts, meanwhile, spent some of his brief stint in parliament justifying the atrocities committed against Indigenous Australians by Queensland’s Native Police.

Watts is attempting to grapple constructively with this past:


There is value in speaking about the legacy of the racism of White Australia in our national identity as a member of a family that’s participated in creating, and benefited from, that structure. Taking responsibility and seeking to make amends is an important symbolic act in itself.

Watts’s larger project is to reconcile “our national imaginings” with “our national realities.” He references Noel Pearson’s vision of weaving together the disparate strands of Indigenous heritage, British institutions and multicultural migration into a strong cord of shared identity. This would be the foundation of “the Golden Country,” a nation that offers the best of all worlds.

Watts thoughtfully mines Australia’s past for forgotten riches in support of this project. His title draws on an article published in Blackwood’s Edinburgh Magazine at the time when anti-Chinese sentiment in the colonies was at its height. Running counter to the prevailing sentiment of “Australia for the White Man” — the Bulletin’s strapline from 1886 until Donald Horne became editor in the 1960s — the Blackwood’s article envisaged Chinese and Europeans mixing in the goldfields to create a “Golden Australia.” This strand of “alternative tradition” deserves honouring, as do the lone voices of senator James Macfarlane and Bruce Smith MP, the only federal politicians who objected to the Immigration Restriction Act 1901 on the grounds that it “denied the Christian doctrine of common humanity.”

Watts would also like us to be as familiar with the exploits of sniper Billy Sing at Anzac Cove as we are with Simpson and his donkey. Simpson lived in Australia for just four years, having jumped ship from the British merchant navy in 1910, and enlisted in the hope of getting free passage home to England. None of this diminishes his bravery, but it does raise the question of why Billy Sing only rates on mention in Charles Bean’s official history of Australia’s Great War (in the caption to a photograph), given that Sing was apparently Australia’s best sniper, credited with killing 300 Turkish soldiers.

Born in Clermont in outback Queensland, Sing was a joker and a larrikin who had worked as a stockman, cane cutter, cricketer and kangaroo shooter. His commanding officer described him as “a good-hearted, well-behaved fellow” and said that “a braver soldier never shouldered a gun.” He had all the trappings of a stereotypical Australian hero, bar one — as his surname suggests, he was not white. By contrast, the white and newly dead Simpson was drafted into legend status during the war as part of a propaganda effort to overcome a recruitment crisis and to bolster the Yes campaign in the fierce debate over conscription. “The veneration of Simpson and the near obliteration of Sing tell us a lot about the power of the Australian Legend,” writes Watts, “and the way it perpetuated a narrow image of Australian identity.”

Watts navigates cogently through the history of Australia’s (dis)engagement with Asian migration: the gold rush, Federation, White Australia, the first world war, the mass settlement of displaced Europeans after the second world war, the arrival of refugees from Vietnam and Cambodia in the late 1970s and early 1980s, the subsequent calls by historian Geoffrey Blainey and opposition leader John Howard for a cut in the rate of Asian migration, the Howard era and the rise and fall of Pauline Hanson, the 2016 election and Hanson’s resurgence.

He writes tellingly about recent policy failings: the “creeping securitisation of immigration policy” symbolised in departmental name changes from Immigration and Citizenship to Immigration and Border Protection; the “symbolic downgrading” of the department’s nation-building role when it was subsumed into Home Affairs, and the associated loss of expertise in settlement services; the shocking exploitation of international students, working holiday-makers and other temporary visa holders.

He poses important questions, pondering, for example, what questions we would be asking today if we returned nation-building to the heart of immigration policy. He contemplates how we might come to terms with our past, perhaps by apologising to Chinese Australians, Pacific Islanders and others for the impact of the Immigration Restriction Act on their families and communities, as Victoria has apologised for the gold rush–era poll tax.

The book is not without its weaknesses, though. First, Howard looms too large in Watts’s reckoning of responsibility for our current problems. Howard “crippled our symbolic nation-building capacity when we most needed it,” he writes, with disastrous results. “Unfortunately, the revanchism of the Howard era on matters of race and identity have allowed the unconscious assumptions underpinning the [White Australia] policy to stumble on, zombie-like, in the symbols and institutions of our national identity.” The imagery is compelling, but while I don’t want to diminish Howard’s “weaponisation of race and immigration in the culture wars,” strategies like his only bear fruit if they fall on fertile ground. The resistance to attitudinal and systemic change runs deeper and is much harder to dislodge than a single prime minister.

Howard certainly combined high-level immigration with a tough-on-borders rhetoric and a careless dismissal of multicultural policy. On his watch Australia also shifted away from an assumption of permanent settlement and towards high levels of temporary entry, but there were larger demographic and economic forces at work too.

Watts also fails to resolve the tension between his desire to reimagine the Australian character by populating our history with forgotten characters like Billy Sing and the fact that the dominant strand in Australian identity emerged from the violent processes of expropriation and expulsion that shaped the nation.

Watts puts his finger on a substantial issue here. He argues that a strong sense of national identity is a necessary condition for a flourishing of the core institutions of a progressive society. Active participation in a representative electoral system, public investment in education and healthcare, and redistributive tax polices rely on “the mutual regard and obligation between citizens that underpins national identity.” But this thesis prompts another question: is it possible to create a unifying sense of national identity — an “imagined community,” to use Benedict Anderson’s famous phrase — that is not also simultaneously exclusionary and limiting in its definition of who belongs?

Watts attempt to resolve this tension is to rescue something called “Australian values” from the ashes of our past; the egalitarianism that underpinned the Australian Settlement after federation and helped create a “working man’s paradise”; the mateship that enabled Australian soldiers to survive Japanese prison camps; the democratic temperament that saw Australia lead the world in delivering a universal franchise and electoral innovations like the secret ballot and compulsory voting. He writes, “Many of the values underpinning the Australian Legend — the fair go, egalitarianism, mateship, pragmatism, irreverence — haven’t lost their potency on our journey to the Golden Country.” The question is whether such things can be so easily disentangled. Can these values be recast, untainted by the fires in which they were forged?

The philosopher Charles W. Mills has called out his academic colleagues for teaching Immanuel Kant’s theories of inherent human dignity yet failing to mention that Kant was also one of the founding thinkers behind scientific racism. Kant formulated a hierarchy of race that had whites at the top, Africans and Native Americans at the bottom, and Asians somewhere in between. It is not sufficient, Mills argues, to sanitise Kant by bracketing out his embarrassing and inconvenient racism and sexism as if they were an aberration or somehow peripheral to Kant’s core thinking. Nor can we simply replace Kant’s Eurocentric definition of person with a more inclusive one. In his essay “Kant’s Untermenschen,” Mills argues that we must take on a much larger philosophical challenge:


Instead of pretending that Kant was arguing for equal respect to be extended to everybody, we should be asking how Kant’s theory needs to be rethought in the light not merely of his own racism but of a modern world with a normative architecture based on racist Kant-like principles. How is “respect” to be cashed out, for example, for a population that has historically been seen as less than persons?… How is cosmopolitanism to be realised on a globe shaped by hundreds of years of European expansionism?

I suspect that coming to terms with Australia’s history in order to chart our way to a golden future is an intellectual and moral task of similarly daunting proportions. •

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PETER MARES

Peter Mares is lead moderator with the Cranlana Centre for Ethical Leadership and Contributing Editor of Inside Story.

Anwar Ibrahim has used other people's money to fund Nurul Izzah's work in the past - Nurul Izzah's appointment as her father's adviser a replay of Anwar using IIIT money to fund his children, and Rahim Ghouse's children's university education

 by Ganesh Sahathevan 


Nurul Izzah appears  enroute to bigger and better things at Petronas, after being appointed her father , Prime Minister Of Malaysia Anwar Ibrahim's adviser in his capacity as Prime Minister and Minister For Finance.

The appointment has been criticised, and it does bring to mind another incident where Anwar Ibrahim used a public position to benefit Nurul Izzah and his other children. 

These are extracts from the International Institute Of Islamic Thought's US IRS 990 Return Of Organization Exempt From Income Tax for the year 2003:



 
Nurul Izzah told Asiaweek that her father had paid her university fees until his dismissal, after which she applied for and won a scholarship. - Editors

 
However  in October 2003, in response to the public  revelation  of the  document above  Anwar Ibrahim said:
 
 
In connection with IIIT's award of a scholarship to my daughter Nurul Izzah, I would like to state that Muslims in America made a special donation to sponsor the education of all six of my children during the five years that I have been in jail.
 

Anwar Ibrahim

Sungai Buloh Prison

25 October 2003 


 

The relationship was not disclosed, as required, the  IRS 990 document above.
Raiyan Adbul Rahim and Ibrahim Abdul Rahim are the children of Rahim Ghouse, Anwar's long time advisor and confidante, who was appointed special advisor to Anwar's wife Wan Azizah when she served as Deputy Prime Minister Malaysia between May 2018 and January 2020. 


END 
 

 


Saturday, February 11, 2023





Australia's Foreign Minister Penny Wong's father Francis seems to recollect a different Australia:
"In the 1960s, the Australian public was extremely humanitarian and Christian in their relationship with Asian students.
https://lnkd.in/gsAg67bf

Labor MP Tim Watts (right) with senator Penny Wong and her father, Francis Wong
Activate to view larger image,

Friday, February 10, 2023

Praise The Lord- The financial martyrdom of City Mission Church Singapore members at the hand of their pastor, former OUE CEO Thio Gim Hock is a lesson in the punishment that can befall those who serve God and Mammon

 by Ganesh Sahathevan 

                                                      


Former OUE CEO and evangelist Thio Gim Hock has been called home to the Lord








As previously reported on this blog  Cellos Software Ltd, a company incorporated in Australia but with its business in Singapore, has been put into liquidation. Ongoing legal proceedings before the Federal Court in Australia suggest the company has nothing, not even the funds to pay its lawyers.Shareholders are therefore likely to lose everything they have invested. Many of the shareholders of this public unlisted company are likely to be members of Singapore's City Mission Church CMC), Kallang.


One had to be a Christian (and member of the CMC) to be offered "special" Cellos. shares. In one of a number pf proceedings before the Federal Court  heard by Mr Justice Beach, the Court found that former director Constance Peck had acted as broker between Cellos and members of the CMC: 

  1. On 17 July 2014, Mrs (Constance)  Peck exchanged WhatsApp messages with Mr Chris Ho, who was a potential purchaser of CellOS shares. Apparently Mr Ho wished to bring a friend to an investor presentation, although the friend was not a Christian. Mrs Peck replied:
The preferential price of USD5.00 per share is a friendly price for Christians n we will require them to do a pledge. Tithe on profit at listing. Non-believers – it’s an arm’s length commercial deal. We open at USD 10.00. Some brokers quote higher. I leave it to the brokers.


The court also found that Mrs Peck had paid a pastor of the CMC, former OUE chief executive Thio Gim Hock, what appears to be a commission on the purchase of shares: 

  1. As to “piggy-backing”, at various times between July 2013 and July 2014, Mrs Peck allowed certain friends to, as she described it, “piggy back” on her further purchases of US$2 shares through Mr Huber (the former CEO)..........
  2. One example of piggy-backing was the transfer of shares by Mrs Peck to Mr Anthony Cooper and his relatives for US$2 per share. A further example of piggy-backing was the transfer of shares at US$2 per share to Yong Weng Kong (also known as Mr Albert Yong), Mr Yong’s wife Heng Mui Kheng (also known as Ms Lillian Heng), KA Chang and  Thio Gim Hock  as a “reward” for their efforts in introducing high net-worth investors to CellOS.
There is further reference to Thio Gim Hock in paragraph 309:
  1. The “profit” went back to CellOS, to Christian work, to charity and to the same of the people who bought at USD5.00.
Melvin (another Cellos promoter) gave away all and more than the money that he made from these transactions - to Anthony Cooper and Andrea’s charities, to  Thio Gim Hock ’s missionary outreaches, and to many needy people and church needs - I can absolutely vouch for that. He has kept nothing of the profit - and the Lord has just been blessing him immeasurably. Let him tell you his stories of the goodness of God to him. The new BMW that Melvin now drives are indeed a gift from a grateful investor in stocks that have already made them a lot of money,

Mr Thio is understood to have encouraged his congregation to invest in the Cellos special price Christian only shares, so that they might better serve The Lord. His exhortation would undoubtedly have benefited Ms Peck in her riskless arbitrage, which she described as hard work.  Judge Beach discloses in his judgement:  


  1. As I have set out earlier, on 8 October 2013, Mrs Peck wrote to Mr Huber, copied to Mr Peck, in the context of her work selling shares with Mr Tan to new investors:
3 THE USD5.00 SHARE TRANSACTIONS – ARE THEY ETHICAL?

These are shares that belong to investors who bought many shares in the past but expected the listing on Nasdaq to take place this year. Since it is not likely to happen in 2013, they need to offload some to realise the cash tied up for other pressing needs. They still hold many CellOS shares. They are/were willing to recover their money (at USD2.00 per share) and we are/were in a position to buy and then sell to our investors at prices ranging from USD2.00 to USD5.00 (not always USD5.00).

...
 I have never worked so hard in my life - selling USD2.00 CellOS shares to raise funds directly for CellOS and then selling USD5.00 shares to raise funds indirectly for CellOS. (Of course for me, the Pledge - and therefore raising funds for the church is a great motivation).”


Cellos liquidation means shareholders, and The Lord get nothing, despite Mrs Peck "never (having) worked so hard in (her) life". It does seem as The Lord has punished those who attempted to serve Mammon and He. Mr Thio Gim Hock has gone home to The Lord. 


TO BE READ WITH 

Cellos Software, backed by members of Singapore’s elite , including members of a church, put into liquidation in Australia.

 

 

Wednesday, February 8, 2023

Najib's AMBank/ANZ account 'was known to the higher levels' - High Court Malaysia revelations put ANZ back in the 1MDB spotlight

 by Ganesh Sahathevan 


The Malay Mail has reported the following testimony by former AMBank employee Joanna Yu in the case before the High Court Malaysia where Najib is being tried for stealing billions from 1MDB: 

........(Najib's AmBank)account was informed to Bank Negara and people in compliance, everybody was watching this account, this account was known to the higher levels....”


The higher levels include ANZ Australia's senior management, and ANZ officers seconded to AMBank, in particular Ashok Ramamurthy, and CFO Mandy Simpson. Ms Simpson still runs the risk of the accountant who knows too much.

The boys and girls at ANZ (see stories below)  still claim they were  not aware of what Najib was doing with his accounts at AMBank/ANZ. 


To Be Read With 


END 



 



by Ganesh Sahathevan
2 Mar 2016

The WSJ reported on 1 March 2016, the first day of fall in Australia:

Deposits into personal accounts of Malaysia’s prime minister totaled more than $1 billion—hundreds of millions more than previously identified—and global investigators believe much of it originated with a Malaysian state fund, people familiar with the matter say.

The investigators’ belief contradicts a conclusion reached recently by Malaysia’s attorney general.

The attorney general said $681 million deposited to Prime Minister Najib Razak’s account—identified by The Wall Street Journal last year—was a legal donation from a member of Saudi Arabia’s royal family, and most was returned. The attorney general said there was nothing improper and it was time to stop scrutinizing the deposits, a notion echoed by Mr. Najib.

The investigators believe that sometime later, most of the $681 million was sent back into the web of offshore entities through which it had arrived.

Prior to the WSJ story, Malaysia's recenly desposed deputy PM Muhyiddin Yassin said that movement of cash via PM Najib's accounts was "clearly a crime".
The accounts were held at the ANZ linked AMMB. ANZ is in what it calls a partnership with AmBank,


Central to that partnership is AMMB CFO Mandy Simpson, who has been seconded from ANZ.





Ms Simpson, like Jalil Ibrahim, the former assistant general manager of BMF, is probably one of few people  who is familiar with all the intricate details of the ownership, utilization and ultimate destination of the funds in question.She probably carries all this in her head.It is not everyday that a client has billions in cash to invest with this bank.


If Ms Simpson is disposed of, just like Jalil, this whole 1 MDB incident will probably become a lot simpler for those involved.
Of course, AUSTRAC and other Australian regulators might well get to her first, but given their history ,I am not holding my breath (no pun intended.
END