The Malaysian Sovereign Wealth Fund called 1MDB raised some $6.5 billions with the intention of investing in Malaysian and other energy sectors. But this worthy goal was subborned by criminals who performed one of the biggest heists in the history of theft. That money moved round the globe, through multiple …
Dramatis Personae Tarek Obaid was born in Beirut on 23 October 1975. He has Swiss and Saudi nationalities. He founded PetroSaudi International [PSI] in 2005 together with Prince Turki bin Abdullah bin Abdulaziz al Saud. Obaid was a director of PSI AS Group incorporated on 21 November 2007 in Saudi …
PetroSaudi Story: Makings of the mega deal: Part Two The arrangements for the joint venture deal between PetroSaudi and 1MDB,. the Malaysian Sovereign Wealth Fund, were made between Patrick Mahony and Jho Low (acting for Najib) and his lawyers. When 1MDB board and CEO learnt about it, they were totally …
PetroSaudi: The Story, Part One PetroSaudi was set up by Tarek Obaid and Prince Turki in 2009 (with assets of only a few hundred francs listed in the Swiss company registry) with the claim that it was a Saudi government/royal enterprise. Patrick Mahony, a school friend of Obaid from Geneva, …
Lawyers for defendants criticise Swiss PetroSaudi/1MDB trial as complex, biased Published 03-Apr-2024 by Nick Kochan Regulatory Intelligence News Lawyers for fund manager Patrick Mahony, one of the defendants in the fraud and money laundering 1MDB trial in Switzerland, have fought back against the Swiss Federal prosecution indictment, calling it complex and biased. “The …
Banker faces trial over Malaysia 1MDB fraud A former City commodities dealer and a dissolute Saudi socialite are facing trial at Swizerland’s Federal Criminal Court in Bellinzona, on criminal charges of aggravated money laundering, fraud, corruption and forgery for offences connected to the global 1MBD corruption scandal. Patrick Mahony is …
Just as three Bulgarians are suspected of spying for Russia by UK authorities, Bulgaria needs to look into itself and ask whether it could be at risk of failing to police sanctions against those connected to the Russian state, now a pariah following the invasion of Ukraine. Bulgaria now needs …
Bent lawyer who claimed God was on his side Stephen David Jones was a good guy. A god-fearing, bespectacled fellow with bounds of British eccentricity that endeared aristocrats and big American investors to take up legal services with his firm – a tax consultancy called Jirehouse, which he operated from …
Ukraine War The following is the text of a talk by Nick Kochan, given on 24 February 2023 to the Henry Jackson Society, London, on the occasion of the first anniversary of the Russian invasion of Ukraine. Other speakers at the meeting were Bill Browder, the businessman and noted …
New pressure on Bulgarian Mafia as One Coin fugitive named by FBI The FBI’s list of most wanted fugitives has just received a new criminal entry. This is Ruzha Ignatova, the founder of the catastrophic One Coin, a crypto whose demise long preceeded the collapse of Bit Coin. The One …
