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Non-Tech : GENI: GenesisIntermedia.com Inc

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To: StockDung who wrote (516)3/19/2006 3:00:40 AM
From: Dr. von Paleske  Read Replies (1) of 574
 
Dr. von Paleske

In the evening of 27th December 2005 the Financial Editor of the leading German Business Daily “Financial Times Deutschland” received a phone call from Africa. I told him that am phoning him from Gaborone in Botswana.

"Are you aware, that the biggest German Bank, Deutsche Bank is involved in a huge and dirty scandal, that involves Saudi Arms dealer Adnan Khashoggi, the Uncle of Dodi Fayed, the last partner of Diana Princess of Wales and a slew of criminal stockbrokers in the US?” I asked him.

The editor was in disbelief.

However the material that I had collected and faxed on that very evening convinced him, this was a scandal and two days later it was front page.

The head of the lending department at Deutsche Bank in Toronto/Canada, Wayne Breedon, in cohort with a slew of dubious stockbrokers, one of them a convicted felon for stock fraud, in a complicated lending scheme had allegedly fraudulently pumped up the stock of a company by the name of Genesis Intermedia.

The Company, then listed on the New York Stock exchange, was built around a book by a John Gray “Men are from Mars and Women are from Venus” He certainly forgot to add, that criminal stockbrokers and arms dealers are from hell.

The company was owned by another company by the name of Ultimate Holdings, based on the Bahamas and owned by Adnan Khashoggi.

Adnan Khashoggi has quite a bit of luggage to carry.

He was involved in the Iran-Contra affair in the 80s, in which weapons were sold to Iran by the Pentagon and the returns were used to finance a rebel group in Nicaragua, the Contras, everything illegal of course.

Just half a year, before the Genesis Intermedia fraud started, he and his old friend Rakesh Saxena, had allegedly linked up together with the international boiler room gangster Amador Pastrana for a huge international fraud.

Saxena is the man, who allegedly defrauded the Bangkok Bank of Commerce together with it’s then CEO Jalichandra to the tune of 2.2 billion US Dollars and thereby caused the Asian Banking Crisis in 1997.

His friend Khashoggi also benefited and allegedly got a 140 million US Dollar "non repayable" loan from the Bangkok Bank of Commerce.

To avoid being arrested, Saxena left Thailand just in time and fled to Canada with allegedly 88 million US Dollars "pocket money", not to retire there, but to continue his stressful work.

First involved with Tim Spicer, then CEO of Sandline, a mercenary company, in a coup in Sierra Leone which was later called the "Arms to Africa Affair" that nearly brought down the Blair government.

Tim Spicer is now the boss of the AEGIS mercenary company, busy on a 293 million Pentagon contract in Iraq, making headlines, his mercenaries were allegedly killing civilians. Involved in the Sierra Leone coup also Tony Buckingham, former owner of the mercenary company Sandline, and also a director and founder of Heritage Oil, listed on the Toronto Stock Exchange.

That was obviously not enough. Saxena was until recently allegedly fraudulently active in Britain (West Shore Ventures) South Africa (Platinum Asset Management) and then Botswana (Investor Relations) , as the Sunday Standard and I here revealed in August 2005.

He is refugee in Canada since 1996, constantly on the phone from self paid house arrest, snail justice to an extradition request from Thailand.

Khashoggi, Saxena and Pastrana together bought a bank in Vienna/Austria by the name of General Commerce Bank, from where they allegedly organized international fraud to the tune of 1 Billion US Dollars in 2000/2001, until the bank was forcibly closed by the authorities. With them the convicted criminals Regis Possino, Sherman Mazur and Raoul Berthaumieu.

Victims came from many countries including Australia, Britain, South Africa.

Even though the fraud at the General Commerce Bank was known, when Deutsche Bank executive Breedon started his fraud allegedly with the knowledge of his superiors, nobody stopped him. Money talks.

Breedon managed to offload Khashoggi’s shares of Genesis Intermedia with massive help of Deutsche Bank in Toronto not on the stock market, where the price would have collapsed, but by lending them to other brokers after he and his accomplices had pumped up the stock .

Khashoggi and his accomplice El Batrawi were grateful for the ill gotten gains.

They organized prostitutes, parties, dinners, sports tickets and cash for the Breedon-Gang.

Come 9/11, the stock price collapsed, the Broker Houses wanted to give the shares back to Khashoggi for cash, but Khashoggi was nowhere to be found.

He and El Batrawi had walked away with 130 million US Dollars cash to carry

As a result, several broker houses suffered heavy losses, two of them went bankrupt, amongst them MJK in Minneapolis, where 200 employees lost their jobs.

Deutsche Bank denied any wrongdoing.

However the taped telephone conversations of the Breedon-Gang allegedly showed the opposite.

The court date was set for 18th January 2006.

Facing overwhelming evidence against them, straight away from the beginning, Deutsche Bank finally before Christmas settled out of court, after four years of denying any responsibility , now paying for everything and still denying any wrongdoing. They promised to pay 270 million US Dollars plus costs. This settlement has been accepted by the bankruptcy court in Minneapolis/Minnesota/USA on 18th January 2006.

Meanwhile the CEO of Deutsche Bank, Ackermann, is preparing himself for another round in the criminal court case in connection with a sale of a German Mobile Phone company to Vodafone.

All scandals, including the one in connection with the closure of the “Open Property Fund “ have not led to his dismissal, to the contrary. His contract was renewed recently and his position elevated. A scandal in it’s own right.

Dr. Alexander von Paleske
Head, Department of Oncology
Princess Marina Hospital
Gaborone/Botswana/Africa
Ex-Barrister-at-Law, High Court Frankfurt (M) E-Mail avpaleske@botsnet.bw

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