Ganesh Sahathevan

by Ganesh Sahathevan It has been reported that Malaysia's PM Najib " questions source of complaints received by US Department of Justice" . The source seems obvious, for example this paragraph from the US DOJ indictment: 67. On September 30, 2009, at approximately 2:39 p.m., the Deutsche Bank Employee, a Deutsche Bank supervisor (“Deutsche Bank Supervisor”), and 1MDB OFFICER 1 had a telephone conversation regarding the requested $700 million wire transfer. During this conversation, 1MDB OFFICER 1 falsely represented that the beneficiary of the $700 million wire was PetroSaudi. In truth, the beneficiary of the wire was Good Star. T heir exchange, conducted in English, was as follows:  1MDB OFFICER 1 Hey, No [mah], I, whatever mistake they’ve made you cannot go back [ask] them. They [already] give you approval from [Bank Negara] all the way to the top.  Deutsche Bank Supervisor Um-hum . . .  1MDB OFFICER 1 Uh. You want to, hang on, this one ___. The ___ is asking me to go a...

by Ganesh Sahathevan The US DOJ "Wolf Of Wall Street" indictment   includes the following paragraphs 4. Contemporaneously with the filing of this complaint, plaintiff (the United States Of America)   is filing related actions seeking the civil forfeiture of the following assets (collectively, the “SUBJECT ASSETS”): q. THE QENTAS TOWNHOUSE: All right and title to the property located in London, United Kingdom (“U.K.”), SW1W 0JR, owned by Qentas Holdings Limited (the “QENTAS TOWNHOUSE”), including all appurtenances, improvements, and attachments thereon, as well as all leases, rents, and profits derived therefrom. QENTAS TOWNHOUSE includes all right, title, and interest in the leasehold for Parking Space 2 at the QENTAS TOWNHOUSE, as well as all sub-leases, rents, and profits derived therefrom. According to a search of the Land Registry conducted by the U.K. National Crime Agency (“NCA”), title to QENTAS TOWNHOUSE is held in the name of Qentas Holdings Limited, and there a...

Looks  like Deloitte will join KPMG: Is KPMG International being "EnRoned"? : Fallout from Malaysia's 1 MDB scandal may cost KPMG USD 10 billion DOJ info would have impacted audit, Deloitte says   37 comments      Published  Today 11:57 am      Updated  Today 12:57 pm Deloitte Malaysia said its audit of 1MDB in 2013 and 2014 would have been impacted if it had known at that time the information contained in the United States Department of Justice's (DOJ) lawsuits to seize 1MDB-linked assets. As such, 1MDB's 2013 and 2014 financial statements, which the auditing firm signed off on March 28, 2014 and Nov 5, 2014, "should no longer be relied upon", it said in a statement. "The complaint (filed by DOJ) contains information, which, if known at the time of the 2013 and 2014 audits of 1MDB, would have impacted the financial statements and affected the audit reports and, accordingly, those audit reports issued by Deloitte Malaysia dated Marc...

by Ganesh Sahathevan Audited financial statements signed-off as true and fair cannot be declared unreliable by the very same managers and directors who signed off on the  financial statements. It is a bit like un-swearing a statutory declaration (yes, I know this has been done, but  Cecil Abraham & co live in a different universe). And do note dear readers, that these signed financial statements are not only signed, but then sworn as true and fair before a notary public. 1 MDB's declaration that   its 2013 and 2014 audited financial statements should no longer be relied on is therefore only relevant to charges against the 1 MDB board for swearing a false declaration.Civil suits arr another matter, but I do want to digress into that.   Then the auditors. The auditors provide an opinion with regards the signed and sworn statements. If the directors and management then say the accounts are not reliable (or should not be relied on) then the opinion is no longer ...

by  Ganesh Sahathevan Re-posting article below, given the recent revelations of about Malaysian Official 1, and given PM Najib's exhortation :  Those who are named in the United States' Department of Justice civil lawsuits leading to the freezing of assets linked to 1MDB must take responsibility to clear their name. The case of Datuk Harun Idris-Useful reference for current times    Malayan Law Journal Reports/1 977/Vol ume 2/DATUK HAJI  HARUN BIN  HAJI IDRIS  v PUBLIC PROSECUTOR - [1977] 2 MLJ 155 - 10 June 1977 25 pages [1977] 2 MLJ 155 DATUK HAJI HARUN BIN HAJI IDRIS v PUBLIC PROSECUTOR FC KUALA LUMPUR SUFFIAN LP, ALI HAMAN AND WAN SULEIMAN FJJ FEDERAL COURT CRIMINAL APPEAL NO 19 OF 1976 21-25, 28-31 MARCH 1977, 1-4, 6 APRIL 1977, 10 June 1977 Criminal Law and Procedure -- Transfer of case from subordinate court to High Court on certificate of  Attorney-General -- Whether legal -- Whether section 418A Criminal Procedure Code ultra vires the...

by Ganesh Sahathevan The description of  Malaysian   Official   1 in the US DOJ's indictment seeking seizure of assets related to the theft from 1 MDB   leaves little doubt that the official is in fact   Malaysia's PM Najib :  28.  MALAYSIAN   OFFICIAL   1  is a high-ranking  official  in the  Malaysian  government who also held a position of authority with 1MDB. During all times relevant to the Complaint,  MALAYSIAN   OFFICIAL   1 was a “public  official ” as that term is used in 18 U.S.C. § 1956(c)(7)(B)(iv) and a “public servant” as that term is used in Section 21 of the  Malaysian  Penal Code.  29.  Riza  Shahriz Bin Abdul  AZIZ  (“ AZIZ ”), a  Malaysian  national, is a relative of  MALAYSIAN   OFFICIAL 1  and a friend of (JHO)  LOW. He co-founded Red Granite Pictures, a Hollywood movie production and distribution studio, in ...

by Ganesh Sahathevan This diagram produced by Sarawak Report summarizes what the US Department of Justice's kleptocracy unit thinks  of Malaysian PM Najib's "Saudi donation" story. Despite this Singapore's MAS studiously ignores the main players, Falcon Bank and AMBank, while Australia's AUSTRAC continues to accept the ANZ line that these matters have nothing to do with ANZ's board and management. Reference TANORE FINANCE - Inside Story Of The "Saudi Royal Donation" - The FBI Files Continued 21 July 2016   108 comments Confirmed – no Saudi Royal was involved in the 2013 Tanore Finance Corporation transfers Breaking… The story of the ‘Saudi Royal Donation’ has gone up in smoke, thanks to the clear and  forensic detail provided by the FBI. Step by step, down to the date of each dollar transfer, the Feds have spelt out in their report how, in just a matter of days, $681 million (RM2.6bn) raised from 1MDB’s so-called Tun Razak Exchange (TRX) bond iss...