Friday, 22 January 2016 22:47
Najib Caught red-handed!
Najib Caught red-handed!
Another Jho Low firm paid hundreds of millions of US dollars into PM's personal accounts
Sarawak
Report can reveal that a second Jho Low company, Blackstone Asia Real
Estate Partners Limited, has paid hundreds of millions of dollars into
the personal accounts of both the Malaysian Prime Minister, Najib Razak
and also the ex-Chairman of Abu Dhabi’s Aabar fund, Khadem al Qubaisi.
Aabar,
a subsidiary of the IPIC sovereign wealth fund, has been enmeshed in a
series of highly questionable and loss making deals with the
scandal-torn Malaysian development fund 1MDB, which is directly
controlled by Razak, using Jho Low as his proxy.
A
Sarawak Report investigation has established that Blackstone, a BVI
registered company which gives an address in Singapore, has been cited
as the sender of a series of enormous dollar currency payments to both
men between 2011 and 2012. Our information includes telegraphic
transfer documents passed through the American banking system.
The
off-shore company uses a tactic familiar to watchers of Jho Low, in that
it apparently seeks to give the impression that it is associated with
the US global investment giant, the Blackstone Group. However, there is
no link whatsoever between the legitimate multi-national and this
secretive shell company.
Jho Low and Li Lin enjoying the high life
In
fact documents obtained by international investigators have ascertained
that the signatory for the company is none other that Jho Low’s deputy,
Seet Li Lin. Seet also acted in the same capacity for the notorious
company Good Star Limited, which lies at the heart of the 1MDB scandal and of which Low was the sole shareholder.
The
records show that before it was liquidated in early 2013, just three
years after starting operations, Blackstone Asia Real Estate Partners
Limited transferred well over half a billion dollars into accounts
belonging to the two men. This was exactly the period when two major
loss-making power purchase deals were funded through billion dollar bond
issues raised under a joint guarantee by the two funds. Much of that
money appears to be unaccounted for, forming a large part of 1MDB’s
current debt problems.
Khadem scooped nearly half a billion dollars (RM2 bn)
Documents
obtained by Sarawak Report show that four separate payments were made
to Khadem Al Qubaisi’s Luxembourg account at Banque Privee Edmond de
Rothschilde Europe (headquartered in Switzerland) in 2012. The sums
were enormous.
Firstly,
on 29th May 2012 Blackstone Asia Real Estate Partners transfered
US$158,000,000 million into Al Qubaisi’s account, held under the name of
the The Vasco Trust, of which he was the sole beneficial owner.
Blackstone
BVI is registered under an address in an office rental block in
Singapore – 36 Robinson Road. Documents in the possession of SR confirm
Al Qubaisi is the shareholder of Vasco Trust
Three
further payments on August 3rd, October 31st and December 4th comprised
US$100,750,000, US$129,000,000 and US$85,000,000 respectively. It
makes for a total of just under half a billion dollars – over two
billion ringgit at current exchange rates, paid from a shady BVI company
into the hands of the salaried Abu Dhabi fund manager over just six
months.
How did this ex-fund manager legitimately earn this sum – or was it a kickback?
Insiders
have confirmed to Sarawak Report that these payments were regarded as
kickbacks linked to Al Qubaisi’s involvement in 1MDB.
Tell tale connections with Good Star, Jho Low and Najib Razak
Last modified on Friday, 22 January 2016 09:43
There
was just one other major external transaction paid into Al Qubaisi’s
Vasco account during the same financial year – US$20,750,000 was
transferred from the other secret Jho Low owned company Good Star
Limited on 20th February 2013.
Transfer from Good Star into the same beneficiary account belonging to Vasco at BPERE – acc no 390 610
Had there been a shortfall on the agreed Blackstone transfers, which was made up by Jho Low’s other company Good Star?
Otherwise,
can the now sacked Mr Al Qubaisi explain these extraordinary secret
payments into his accounts, just in the very period when Aabar and 1MDB
were entering into a series of ‘joint investment’ deals from which
billions have gone missing?
Payment to the Prime Minister!
There
is an even more serious angle to this explosive set of discoveries.
Sarawak Report has learnt that the on-going 1MDB investigation into
Najib Razak’s AmPrivate Bank accounts in KL has also established that
enormous payments came in from the very same source a few months
earlier.
In
2011 Blackstone Asia Real Estate Partners Limited paid a total of US$170
million into the same private account belonging to Najib Razak which
later received US$680 million in 2013, as reported by Sarawak Report,
along with the Wall Street Journal.
Sarawak
Report has already reported there had been earlier payments, which had
brought the final sum in the account to well over a billion dollars.
After the election over US$600 million was in fact sent exported back into personal accounts belonging to the Prime Minister in Singapore (now frozen) and the AmBank account closed.
Party mode – Al Qubaisi has poured hundreds of millions into buying up nightclubs in Vegas
We
are now able to disclose that the first of those series of payments,
totalling US$170 million came from Blackstone Asia Real Estate Partners
Limited (BVI) and it was supported by the very same identical letter of
guarantee provided by the bogus sheikh
‘Saud Abdulaziz Majid al-Saud’, which also backed the later US$680
million ‘donation’ via yet another off-shore BVI company, Tanore Finance
Corporation, in 2013.
As we
have detailed, Saud Abdulaziz Majid al-Saud has turned out not to exist
and the series of identical letters provide no details of his address
or credentials.
No
wonder the task force investigations into 1MDB ended up querying these
enormous payments as part of their remit into Malaysia’s missing
development funds.
The official investigators had clearly concluded (before they were rudely shut down, arrested, sacked and in one case murdered)
that these transfers into Najib’s accounts were directly linked to the
disappearances of vast sums of money from the company’s accounts.
History of an impersonator company
So
what of this BVI based company, which suddenly transferred so much
money into the accounts of the bosses behind Aabar and 1MDB?
Blackstone Group does indeed have a subsidiary called Blackstone Real Estate Partners Asia.
However, the major global player has responded to enquiries to
confirm that the almost identically named Blackstone Asia Real Estate
Partners (BVI) has nothing to do with their business.
Research
into the shadowy world of BVI corporations has revealed that this
particular shell company was incorporated on November 1st 2010 under the
name of Foreign FX Trading Limited and changed its name to Blackstone
Asia Real Estate Partners on 26th May 2011:
Short lived history of a shell company used to transfer hundreds of millions of dollars
Having
transferred the hundreds of millions of dollars into both Najib and
Khadem Al Qubaisi’s accounts the company was put into liquidation on
30th April 2013, just before the Malaysian general election.
Time to close down this short-lived multi-million dollar operation?
Sarawak
Report contends that the explanation for this series of events is that
Blackstone Asia Real Estate Partners Limited (BVI) was merely another of
Jho Low’s secretive vehicles for transferring money, which he habitually named to sound as if they belonged to more credible working concerns.
Other
such companies which we have identified as being linked to Jho Low’s
laundering activities are PetroSaudi International Limited (Seychelles);
SRG (Strategic Resouces Global); Aabar Investments PJS Ltd and Merryl Capital.
Najib must explain why his anonymous donor appears to be Jho Low
The
same London based company, Offshore Incorporations Centre, was employed
to incorporate both Good Star Limited in the Seychelles and the
Blackstone bogus company in BVI. Sarawak Report has already confirmed that international investigators have now established that the sole shareholder of Good Star is indeed none other than Jho Low.
Prime
Minister Najib must surely now address what has now become increasingly
plain and obvious, which is that much of the money recorded as having
gone missing from the 1MDB/Aabar joint ventures, appears to now have
been traced into bank accounts belonging to the two main players in
these transactions – himself and Khadem Al Qubaisi.
The
facilitator in the Blackstone BVI transactions was plainly once more Jho
Low, using yet another of his web of off-shore vehicles to shift the
cash, before he liquidated it (like Good Star) in an attempt to
obliterate the evidence.
- Sarawak Report
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