Judiciary / Najib Razak / Umno & Barisan Nasional

Singapore court case on 1MDB reconfirmed the USD2.32 billion units were worthless

The sequel of the previous article will be publish after this current posting. For now, as an intermission, do read the commentary and analysis by the blogger Sat Dee in his Facebook account.

By the blogger Sat Dee:

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.

Excellent choice for a Fund Manager mate.

Refer my previous posting also on the so called “Shares in a Venture for US 2.32 Billion”:
https://www.facebook.com/permalink.php?story_fbid=363083130701110&id=100009982781433

And also the full flow mapping in my blogpost:
http://satdthinks.blogspot.com/…/the-idiot-guide-to-illogic…

slide12

14925724_368671200142303_2523284919508451500_n

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:

14956411_368677160141707_2108573371558655140_n

14925343_368678356808254_365979292899592389_n

14915731_368679523474804_493878215264353999_n

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.

Hey PDRM ape story still tidur lagi ka?

UPDATE:

Refer also the “doubtful data” from Sarawak Report on the OSAed Auditor General Report and triangulate with PAC Report. Below is the excerpt in the PAC Report:

14963157_368787736797316_6594387599978117560_n

14925347_368787250130698_1557760792129997086_n

Redemption was NEVER DONE, ALL UNITS WERE USED AS COLLATERAL TO DEUTSCHE LOAN.

So called Option Termination was also Bullshit payment if all were used as collateral for Deutsche Loan

In the end, since the units were worthless, DEUTSCHE BANK opted for recalling the loan repayment at earlier settlement, resulting in the hurried Debt Rationalisation plan and triggered the much maligned agreement with the white knight called IPIC back in May 2015.

-END

You may also want to read:

1) Yeo Jiawei’s Ex-BSI Boss Describes 1MDB Kickbacks, Lavish Lifestyle, Cover-Up

2) Open Letter to the Missing Public Prosecutor

3) A thief in China

4) A bowl in hand, the thief arrives

5) DASAR PANDANG KE CHINA, APAKAH NAJIB SEDANG MEMBERITAHU AMERIKA BELIAU SUDAH ADA TUAN BARU?

6) Show us genuine China money

7) List of assets being confiscated by DOJ

8) BSI Bankers Had Free Reign in 1MDB Dealings

9) Brazen Sky’s RM940m unit funds managed by a mysterious fund manager

2 thoughts on “Singapore court case on 1MDB reconfirmed the USD2.32 billion units were worthless

  1. So at the stage of the Deutsche Bank loan recall, the loan therefore represented, in Malay parlance, a “gali-ed lobang”.

    Let us call that as Lobang L1. 1MDB next course of action was the need to “tutup lobang” L1, and that need rested with their venture of IPIC to plug Lubang L1.

    Am I correct in saying their venture with IPIC did not really “tutup” Lubang L1, but managed to create a new gaping Lubang L2 . By then they already have two lubangs L1 and L2 to reckon with?

    Am I correct also in saying that the same modus operandi, in Malay parlance “skim buat traik atas taik”, happened with the sale of gomen bonds courtesy of Goldmann Sach?

    Liked by 1 person

    • Yes Raksa. You got the gist of it.

      The Deutsche bank loan was applied to pay off Aabar in respect of termination of options for the Edra IPO which did not happened. Unfortunately they paid to the fake Aabar instead. IPIC was hooked in again to pay off the Deutsche loan. Later then 1MDB acted surprised to discover that IPIC wanted from them the termination fee which was promised as well as the loan it gave to repay Deutsche and the sum worth USD3.5 billion minimum (this is the value of the bond IPIC had guaranteed on 1MDB’s behalf). All this can be read here –> https://jebatmustdie.wordpress.com/2016/09/29/arul-kanda-caused-the-ipic-1mdb-dispute/

      Thank you.

      Liked by 1 person

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