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   Non-TechGENI: GenesisIntermedia.com Inc


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To: PaleskeDrAv who wrote (530)1/10/2008 1:21:08 PM
From: StockDung
   of 574
 
TV investment adviser goes on trial
From wire service reports
Article Launched: 01/08/2008 09:01:22 AM PST

Television commentator and investment adviser Courtney Smith is scheduled to go on trial today, accused of participating in a stock manipulation scheme that resulted in the loss of $130 million.

Smith was named in a Feb. 7, 2005, U.S. Securities and Exchange Commission complaint. His trial in U.S. District Court in downtown Los Angeles is expected to last about five days.

Smith has made frequent appearances on CNN, Fox News Channel, CNBC and Bloomberg TV offering financial advice and stock tips.

The SEC complaint alleges Smith played a role in an unlawful scheme to manipulate the stock price of the now-defunct Van Nuys-based public company, GenesisIntermedia, Inc. (GENI).

When the scheme collapsed in September 2001, the company's stock price plunged, resulting in the bankruptcy of three brokerage firms and the largest bailout in the history of the Securities Investor Protection Corporation, the SEC alleges.

As Smith's punishment, the SEC is seeking civil penalties, a permanent injunction against him as well as an accounting of all the money he obtained as a result of his alleged illegal conduct.

In a separate criminal case related to the alleged scheme, the U.S. Attorney's Office pursued charges against Smith in 2005. After a 12-day trial the following year, Smith was acquitted on all 11 counts against him.

The SEC alleges that the scheme took place between September 1999 and September 2001 and that Smith was aided by a Saudi national reputed to be an international arms dealer and financier.

Another participant in the alleged scheme -- GENI's chief executive officer -- secretly paid Smith for touting GENI stock on television, thus creating demand for the stock, according to the SEC's complaint.

The SEC also claims that Smith knowingly made a series of false and misleading statements about GENI's performance outlook on Wall Street in order to artificially drive up its stock price.

In return for his part in the scheme, the SEC alleges that Smith was paid more than $800,000.

dailybreeze.com

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To: PaleskeDrAv who wrote (530)1/10/2008 1:21:43 PM
From: StockDung
   of 574
 
Adnan Khashoggi 'to Invest in Grand Canal Project'

Saudi entrepeneur Adnan Khashoggi

President-elect Lee Myung-bak has reportedly contacted the billionaire Saudi arms dealer and businessman Adnan Khashoggi, who has expressed an interest in investing in Lee’s cross-country canal project and the Saemangeum development project. A Lee aide said a member of the presidential Transition Committee met with a representative for Khashoggi, who is said to be planning a press conference on his decision to invest in Korea.
Khashoggi started his career as an agent for Lockheed Martin and built his fortune as an arms dealer and oil exporter. In 2000, he planned to build an international tourism and leisure complex in Ahnmyeon Island, South Chungcheong Province, but the plan was thwarted. According to a Lee aide, Khashoggi had close relationships with former president Park Chung-hee and is forming new business ties with the president-elect, whom he “regards as a second President Park.”

Lee also contacted multinational investors based in the U.S. and China, who are reportedly willing to put US$10 billion into Korea.

Meanwhile, Lee will send Sagong Il, head of the national competitiveness special committee of the presidential Transition Committee as an envoy to the Davos Forum. He will also dispatch Yoon Jin-shik, a former minister of commerce, industry and energy, to Japan. Yoon, the head of an investment taskforce in the competitiveness team, will brief Japanese lawmakers about the new government’s policy directions.

Lee also sent a letter to the crown prince of Abu Dhabi, asking him to choose Korea’s first supersonic military trainer jet T-50 as the United Arab Emirates’ next-generation trainer aircraft.

(englishnews@chosun.com )

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To: PaleskeDrAv who wrote (530)2/1/2008 4:45:27 PM
From: StockDung
   of 574
 
Adnan Kashoggi, British warrant out for his arrest.

====================================
UBS deal died over unexplained money
livemint.com

The reluctance of a top Swiss bank to help Indian investigators is slowing the unravelling of an intricate multinational trail of money transfers between an Indian horse owner and a fugitive Saudi arms dealer Urvi Mahajani, Manish Pachouly and Yogesh JoshiMumbai / Pune: The reluctance of a top Swiss bank to help Indian investigators is slowing the unravelling of an intricate multinational trail of money transfers—across Switzerland, New York, the British Virgin Islands and Pune—between an Indian horse owner and a fugitive Saudi arms dealer, according to officials in the Enforcement Directorate, the government body that investigates economic crimes.

A top official in the Enforcement Directorate (ED) who did not wish to be identified confirmed on Friday that the agency’s officials, in December 2007, had advised the Indian government not to clear a Rs467 crore plan by UBS (United Bank of Switzerland) AG, the world’s biggest wealth management company, to buy the Indian mutual fund business of Standard Chartered Bank because the Swiss bank had not helped track international money transfers of Pune horse owner Hassan Ali Khan.
Investigators from the ED, who recently claim to have found $8 billion in the Swiss bank accounts of Hasan Ali Khan, say they now have evidence of a $300 million transfer to him (via a Chase Manhattan bank account in New York) from billionaire Saudi arms dealer Adnan Khashoggi, whose arms supplies to Tamil terrorists, the LTTE, were revealed during an investigation into the 1991 assassination of Rajiv Gandhi.
Home turf: Hassan Ali Khan (second from right, in safari suit) with wife Rheema (second from left) and father-in-law Abbas Ali Khan (fourth from right). As the Bombay high court hears an Enforcement Directorate plea not to return passports to Khan and his wife Rheema, the Hindustan Times has previewed a secret ED report that reveals the agency’s attempts to find the links between Khan and Khashoggi.
As evidence the report quotes a notation, “funds from weapon sales”, made by UBS AG, a top-tier investment banking and securities firm, after it froze an account belonging to Hassan Ali Khan, the Pune horse owner, following the $300 million transfer to him—it isn’t clear when— from Khashoggi.
“I would not like to talk about this,” said UBS India managing director and chairperson Manisha Girotra, referring all questions to the bank’s spokesperson.
“As a truly global entity, our policy on such issues is to comply with the laws and regulations in each host country, while at the same time, complying with the banking laws in Switzerland,” the UBS spokesperson said in an email. The spokesperson declined to comment specifically on the arms sale notation.
The government has told the Bombay high court that the Khans are “virtually absconding” and if they are allowed to leave India, investigations could collapse. Khan’s counsel, Milind Sathe, said his client “regularly appeared before the Directorate”. Asked where Khan was, his main lawyer, Mugdha Jadhav, said: “Can’t tell you, sorry.”
At Pune race course, HT found Hassan Ali Khan’s father-in-law, Abbas Ali Khan, who said his son-in-law was “not well” and in Mumbai. He dismissed all allegations.
Hassan Ali Khan has three Indian passports—issued from Pune, Patna and Mumbai; he also applied for passports from Guwahati and Chandigarh— and he and his wife have applied to Switzerland for citizenship, another ED official who did not wish to be identified said. Passport authorities in those three cities are now trying to find out how three passports were issued to Khan.
Kashoggi now lives a quiet life in the principality of Monaco. There is a British warrant out for his arrest.
Another top official at ED who also did not wish to be identified said Kashoggi’s $300-million transfer was “only the tip of the iceberg” and that the agency was trying to connect the dots in the global trail, which also includes evidence of another $290 million in two “fictitious companies” created by Hassan Ali Khan and a friend in the British Virgin Islands in the Caribbean. All the money transfers are recorded in a laptop seized in January 2007 from Hassan Ali Khan’s house in Pune and while investigators believe this is laundered money, there is no direct evidence. They would also need corroboratory evidence to establish that these transfers have anything to do with terror networks.
“These are all false allegations,” said Sathe. Asked about the $300 million transfer from Khashoggi, he said: “When the Enforcement Directorate questions us, we shall give a reply.”
The ED official, who confirmed the agency’s involvement in spiking UBS’ deal with Standard Chartered, said the Swiss bank had told Indian investigators to get a letter rogatory, a formal request from an Indian court to a Swiss court. This is a complicated process and would have needed to be routed through the ministry of external affairs, and it would have involved finding and presenting clear evidence of Hassan Ali’s links to terror.
It now seems apparent that UBS’ stand in the ongoing investigation led to the collapse of its deal with Standard Chartered Bank.
In a December report, Mint said that the Reserve Bank, India’s banking regulator, would not approve the deal because of possible money laundering through the Swiss bank involving certain transactions of Khan. On Friday, RBI declined to comment. “We are a civil body,” a spokesperson said. “Whenever we find violations, issued to be investigated, we hand over the information to the Enforcement Directorate. We have not issued any comments on the issue of UBS.”
In December, Standard Chartered, the parent of Standard Chartered Bank in India, sent a notice to stock exchanges in London and Hong Kong, where it is listed, saying it would not proceed with the deal, without giving a reason.(Hindustan Times)
(feedback@livemint.com)
Copyright © 2007

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To: PaleskeDrAv who wrote (530)2/6/2008 12:54:51 PM
From: StockDung
   of 574
 
RBI puts UBS licence on hold, appoints finance ministry official on its panel news

06 February 2008

Mumbai: The Reserve Bank of India (RBI) has put on hold a banking licence to Swiss banking giant UBS AG, because of its reluctance to co-operate with the authorities to trace multinational money transfers - across Switzerland, New York, the British Virgin Islands and Pune - between Indian stud farm owner Hasan Ali Khan and a fugitive Saudi arms dealer Adnan Khashoggi.

The RBI also appointed Arun Ramanathan, secretary (financial sector) of the union finance ministry, to one of its committees on the financial sector.

The committee will assist the central bank on financial sector assessment, the central bank said in a statement.

The central bank also rejected UBS deal to buy the Indian mutual fund business of Standard Chartered Bank for Rs467 crore ($118.2 million).

Standard Chartered, which is focusing on its core banking operations, said it has received several bids for its 75 per cent stake in an Indian mutual fund business.

The Asia-focused British bank has been hunting for fresh buyers for the fund operations after a proposed $118 million deal with UBS AG fell apart in December due to regulatory delays.

UBS was ready to commence its banking operations in India and had already identified a premise to open its branch, sources familiar with the developments said.

UBS is present in India through its broking and investment banking arm UBS Securities India Pvt. Ltd. It also runs a private wealth management business and an offshore unit in Hyderabad.

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From: StockDung4/9/2008 10:31:03 AM
   of 574
 
Even though no one seems to be trying very hard to find him, Khashoggi is currently a fugitive from justice in the case.

At one time, Khashoggi's chief lieutenant and fellow Saudi swindler, Ramy El-Batrawi, former President of Jetbourne, a Miami CIA proprietary which flew Oliver North's TOW missiles to the Iranians during the Iran Contra Scandal, owned both DC9's later owned by SkyWay.

Small world.

madcowprod.com

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From: StockDung4/16/2008 3:29:15 PM
   of 574
 
Khashoggi, along with Ramy El-Batrawi, was the principal financier behind GenesisIntermedia, Inc. (formerly NASDAQ: GENI), a publicly traded Internet company based in Southern California. After the September 11, 2001 attacks, Khashoggi's U.S. based checking accounts were frozen and Khashoggi was unable to make a margin call with Native Nations Securities, whose CEO and largest shareholder, at the time, was Valerie Red Horse, former office manager of junk bond king, Michael Milken. In turn, Native Nations was unable to meet its obligations on it margin loan to MJK Clearing, Inc.[2][3] Trading in the stock of GenesisIntermedia was halted in September 2001. Khashoggi's unwillingness to pay his margin loan to Native Nations Securities, and Native Nations inability to pay its debts to MJK Clearing, began a series of bankruptcies that ended in the largest payout in Securities Investor Protection Corporation history.[4][5] Native Nations Securities and MJK Clearing both eventually filed for bankruptcy.[6]

American University used to have a prominent building named the Khashoggi Center but after he defaulted on his donation pledge, the school removed his name from the building.

Khashoggi continues to live a quiet life in the Principality of Monaco, even after a British court order him to pay a creditor the amount of £7 million. His services as a facilitator have been a recurring feature throughout US administrations since Nixon; most recently, he met with Richard Perle shortly before the American invasion of Iraq, in 2003.

en.wikipedia.org

Adnan Khashoggi
From Wikipedia, the free encyclopedia
Jump to: navigation, search
Adnan Khashoggi (or Kashoggi) (Arabic:????? ??????) (born 25 July 1935 in Mecca) is a billionaire Saudi Arabian arms-dealer and businessman. He is also noted for his engagements with high society in both the Occidental and Arabic-speaking worlds, and for his involvement in the Iran-Contra, BCCI and numerous other affairs.

Contents
[hide]
1 History
2 Personal life
2.1 Divorce from Soraya
2.2 Association with Heather Mills
3 In Popular Culture
4 See also
5 References
6 External links


[edit] History
Adnan Khashoggi is the son of Muhammad Khashoggi, a Saudi medical doctor who was Turkish by descent; Dr.Mohammad Khashoggi was King Abdel Aziz AlSaud's personal Physician.The family name means spoonmaker in Turkish. Adnan Khashogg's sister Samira Khashoggi Fayed was the mother of Dodi Fayed, who died with Princess Diana.

Khashoggi was educated at Victoria College in Alexandria, Egypt, California State University, Chico, Ohio State University, and Stanford University in Palo Alto, California, USA. It is said that Khashoggi quit his studies in order to seek his fortune in business.

Khashoggi headed a company called Triad Holding Company, which among other things built the Triad Centre in Salt Lake City, Utah, which later went bankrupt. He was famed as an arms dealer, brokering deals between US firms and the Saudi Government, most actively in the 1960s and 1970s. In the documentary The Mayfair Set, Saudi author Said Aburish states that one of Adnan's first weapons deal was providing David Stirling with weapons for a covert mission in Yemen during the Aden Emergency in 1963. Among his overseas clients were defense contractors Lockheed Corporation (now Lockheed Martin Corporation), Raytheon, Grumman Aircraft Engineering Corporation and Northrop Corporation (which have now merged into Northrop Grumman). A shrewd businessman, he covered his financial tracks by establishing front companies in Switzerland and Liechtenstein to handle his commissions as well as developing contacts with notables such as CIA officers James H. Critchfield and Kim Roosevelt and US businessman Bebe Rebozo, a close associate of former US President Richard Nixon. He was also involved in diamond mining in the Central African Empire, working closely with the dictator Bokassa.

He was implicated in the Iran-Contra Affair as a key middleman in the arms-for-hostages exchange along with Iranian arms dealer Manucher Ghorbanifar and, in a complex series of events, was found to have borrowed money for these arms purchases from the now-bankrupt financial institution the Bank of Credit and Commerce International with Saudi and US backing. In 1988, Khashoggi was arrested in Switzerland, accused of concealing funds, and held for three months and then extradited to the United States where he was released on bail and subsequently acquitted. In 1990, a United States federal jury in Manhattan acquitted Khashoggi and Imelda Marcos, widow of the exiled Philippine President Ferdinand Marcos, of racketeering and fraud.[1] He has also worked for Col. Ghaddafi of Libya in 1992 as a mediator.

Khashoggi, along with Ramy El-Batrawi, was the principal financier behind GenesisIntermedia, Inc. (formerly NASDAQ: GENI), a publicly traded Internet company based in Southern California. After the September 11, 2001 attacks, Khashoggi's U.S. based checking accounts were frozen and Khashoggi was unable to make a margin call with Native Nations Securities, whose CEO and largest shareholder, at the time, was Valerie Red Horse, former office manager of junk bond king, Michael Milken. In turn, Native Nations was unable to meet its obligations on it margin loan to MJK Clearing, Inc.[2][3] Trading in the stock of GenesisIntermedia was halted in September 2001. Khashoggi's unwillingness to pay his margin loan to Native Nations Securities, and Native Nations inability to pay its debts to MJK Clearing, began a series of bankruptcies that ended in the largest payout in Securities Investor Protection Corporation history.[4][5] Native Nations Securities and MJK Clearing both eventually filed for bankruptcy.[6]

American University used to have a prominent building named the Khashoggi Center but after he defaulted on his donation pledge, the school removed his name from the building.

Khashoggi continues to live a quiet life in the Principality of Monaco, even after a British court order him to pay a creditor the amount of £7 million. His services as a facilitator have been a recurring feature throughout US administrations since Nixon; most recently, he met with Richard Perle shortly before the American invasion of Iraq, in 2003.

[edit] Personal life
Khashoggi was well known for leading an extravagant and wild lifestyle that was legendary in its time. This was commemorated on rock band Queen's album The Miracle, on which the second song is titled "Khashoggi's Ship". The song mentions his super yacht "Nabila" (named after his daughter actress Nabila Khashoggi[1]), built by Benetti and appearing in the James Bond film Never Say Never Again. The yacht was later acquired by Donald Trump who renamed it "Trump Princess" for Ivana Trump. After Donald Trump's divorce, the yacht was repossessed and then sold by an American Express subsidiary bank to another Saudi Businessman, Al-Waleed bin Talal, a nephew of the king of Saudi Arabia. It is now kept at berth number one in Antibes with an occasional cruise to Cannes, in the south of France under the new name of "Kingdom 5KR".

In addition to the yacht, he also had an opulent DC-8 jet with futuristic custom interior built around 1980. It is featured in the last issue of Nest Magazine.

At his 50th birthday party, held in Marbella, Spain in 1985, said to have cost millions of dollars, he entertained celebrity guests such as Sean Connery, Shirley Bassey, porn star Olinka Hardiman, Brooke Shields, Michael Caine, and George Hamilton IV.

Adnan's son, Khalid Khashoggi, was rumored to have problems with drinking and drug addiction. He is now living in New York or New Jersey. He also has a son named Kamal Khashoggi, who goes to The British Internationl School of Jeddah aka Conti which is located in Saudi Arabia, Jeddah.

[edit] Divorce from Soraya
In divorcing his wife, Soraya, in 1980, Khashoggi agreed to one of the largest divorce settlements on record; one figure was quoted at £548.4m,[7] but reports vary wildly and part of the value of the settlement was said to have been tied to oil prices.

It later emerged that one of his daughters (Petrina Khashoggi) with ex-wife Soraya turned out, on DNA testing at age 18, to be the daughter of UK Tory Cabinet Minister Jonathan Aitken, soon to be disgraced for his role in accepting a gift from another arms dealer, Mohammed Said Ayas, a Lebanese and a close associate of Prince Muhammad bin Fahd of Saudi Arabia. In his libel suit against the Guardian newspaper, Aitken perjured himself over this gift of accommodation at the Paris Ritz and went to jail.

[edit] Association with Heather Mills
In 2006, he was named in the News of the World as a client of Heather Mills when she allegedly worked as a model. As corroboration, News of the World provided an affidavit from escort Denise Hewitt, who said she worked with Mills in the service of "Saudi royalty" (not naming Khashoggi specifically), and that Mills boasted of services rendered to afluent clients earning up to £10,000 in a single night.[8] News of the World also produced a man named Abdul Khoury, who stated he was Khashoggi's personal secretary from 1977 to 2005 and had day-to-day knowledge of Khashoggi's business dealings and personal affairs. Khoury affirmed the veracity of reports of Mills's providing erotic services to Khashoggi, and in unequivocal detail.

The Daily Mail further produced accounts of other friends of Mills's affirming that she had worked as an escort on other occasions.[9]

These accusations have never been tested in a court of law; nor have Khashoggi or Mills (as of early 2007) initiated libel proceedings against Khoury, the News of the World or any media outlets carrying the story (despite the relatively favorable legal climate that exists in the UK for doing so). Through her lawyers, Mills has denied ever having been a sex worker, says the accusations come from unreliable persons and are timed to cause maximum hurt, and has expressed her intention to sue as soon as her divorce is concluded.[10]

[edit] In Popular Culture
Khashoggi's Ship, a song on the 1989 Album The Miracle by rock band Queen is about Adnan Khashoggi and a ship (the Nabila, now Kingdom 5KR) that he owned at the time.
The Swedish dance music band Army of Lovers has referenced Khashoggi in two songs. In La Plage De Saint Tropez with the line: "We met Khashoggi with a gun", and in I am with the lines: "I am, what Bobby is to Pam, Khashoggi to Iran, I am".
Harold Robbins´novel The Pirate (1974) is supposed to be inspired by the life and lifestyle of Khashoggi
As well, Khashoggi is the name of one of the antagonist characters in the musical based on Queen's works, We Will Rock You.

[edit] See also
Ghaith Pharaon
Ahmed Zaki Yamani
Ramy El-Batrawi
Larry J. Kolb, who tells of his experience working closely with Khashoggi in his book Overworld: The Life and Times of a Reluctant Spy (New York: Riverhead Books, 2004)

[edit] References
^ Marcos Juror Among Stewart Jury Finalists (Jan. 25, 2004). Retrieved on September 11, 2007.
^ In the Matter of Dean C. Reder, Securities and Exchange Commission, March 26, 2007.
^ Mudry, Brent. "SEC files first suit in GenesisIntermedia debacle", Canada StockWatch, June 4, 2003.
^ Form 12B-25, Notification of Late Filing, Securities and Exchange Commission, November 14, 2001.
^ SIPC. [http://www.sipc.org/media/release10oct.cfm " SIPC: BANKRUPTCY COURT CLEARS SALE OF TROUBLED MINNESOTA BROKERAGE FIRM, 175,000-Customer Firm Failure is Largest Ever Handled by SIPC"], SIPC, October 2, 2001.
^ SIPC vs. MJK Clearing, Inc., United States Bankruptcy Court, District of Minnesota', September 30, 2006.'
^ virgin.net
^ Matt Born. Heather was a high-class hooker paid thousands.
^ Laura Collins. Heather just stood there, naked, unashamed and unabashed.
^ CBC.ca Arts - Mills McCartney to sue over 'defamatory' allegations

[edit] External links
Ramy El-Batrawi
Rajiv Gandhi Murder Controversy
TIME Magazine Cover: Adnan Khashoggi Jan. 19, 1987
Notes on The Richest Man In The World by Ronald Kessler ISBN 0-446-51339-3
Profile at NNDB
Death of a Princess
Chapter Servants of the Crown from Saïd K. Aburish's The House of Saud ISBN 0-7475-7874-5
Did Adnan Khashoggi Throw the Election to Dubya?
More "Six Degrees of Adnan Khashoggi"
TSX member Deutsche Bank in major penny stock scandal article by Brent Mudry
Banking units embroiled in lawsuit copy of a Globe and Mail article by Karen Howlett
Why was Richard Perle meeting with Adnan Khashoggi? The New Yorker article by Seymour Hersh, March 2003.
Adnan Khashoggi, Rakesh Saxena and the Spiderweb
Retrieved from "http://en.wikipedia.org/wiki/Adnan_Khashoggi"
Categories: 1935 births | Living people | Saudi Arabian businesspeople | Arms traders | American political scandals

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To: PaleskeDrAv who wrote (530)4/23/2008 10:26:41 AM
From: StockDung
   of 574
 
April 23, 2008 (Sawf News) - A former prostitute, Denize Hewitt, claims that some of the world's most powerful and rich men were Heather Mills' sugar daddies. A Saudi Prince, Australian tycoon Kerry Packer, and Saudi arms dealer Adnan Khashoggi all paid Mills for sex.

She was speaking out on an explosive Channel 4 documentary, Heather Mills: What Really Happened. The show also featured Heather's dad Mark Mills, her ghost writer and the sister of her first husband.

Hewitt, a former friend of Heather Mills, claims the two of them were high-class prostitutes, who returned favors by providing "full sex and girly-girly scenes" for $20,000 a-night.

According to Hewitt, Mills manipulated McCartney into marrying her by giving him an ultimatum.

Mills said, 'I'll give him an ultimatum and if he doesn't marry me within say eight months, ten months, I'm going to leave him'."

She said Mills often talked degradingly about McCartney before she married him. She said stuff like, "Well look at me, I'm marrying an old man with bigger t*ts than me."

news.sawf.org

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To: PaleskeDrAv who wrote (530)4/30/2008 9:52:43 PM
From: StockDung
   of 574
 
Hypo Alpe-Adria-Bank (Liechtenstein) AG (the Respondent)

Policy Documents
Decisions & Orders

Document Sub-category: Notices of Hearing
Document No.: 2007/12/19
Subject: Hypo Alpe-Adria-Bank , et al. [Amended Notice of Hearing]
Amendments:
Published Date: 12/20/2007
Effective Date: 12/19/2007 _________________________

2007 BCSECCOM 753
Amended Notice of Hearing

Hypo Alpe-Adria-Bank (Liechtenstein) AG
(the Respondent)

Section 161 of the Securities Act, RSBC 1996, c. 418

1 The Commission will hold a hearing at which the Executive Director will tender evidence, make submissions and apply for orders against the Respondent under sections 161 and 174 of the Securities Act, RSBC 1996, c. 418 (the Act), based on the following facts:

The Respondent
1. Hypo Alpe-Adria-Bank (Liechtenstein) AG (Hypo Bank) is a Liechtenstein-domiciled bank.

2. During the period of November 1, 2006 to August 31, 2007 (the Relevant Period), Hypo Bank held accounts (the Hypo Bank Accounts) with eleven British Columbia investment dealers.

3. During the Relevant Period Hypo Bank, through its employees or third parties, purchased and sold (transacted) securities through the Hypo Bank Accounts for the benefit of third parties who were the beneficial owners of the securities (the Beneficial Owners).

Suspicious activity
Predominantly United States over-the-counter markets and sales
4. During the Relevant Period, approximately:

(a) 89% of the total volume and 85% of the total value of all of the securities transacted through the Hypo Bank Accounts were sales;

(b) 90% of the volume of securities transacted through the Hypo Bank Accounts was in issuers whose securities were quoted on the United States Over-the-Counter Bulletin Board (OTCBB) or Pink Sheets LLC (Pink Sheets);

(c) 430,000,000 securities constituting $130,000,000 of OTCBB and Pink Sheets securities were transacted through the Hypo Bank Accounts; and

(d) 91% of the volume and 89% of the value of the OTCBB and Pink Sheets securities transacted through the Hypo Bank Accounts were sales.

Spammed securities transacted in the Hypo Bank Accounts
5. During the Relevant Period, approximately:
(a) 9% of the issuers (spammed issuers) whose securities were transacted through the Hypo Bank Accounts were the subject of promotional emails (spam);

(b) $11,000,000 of spammed issuers’ securities (spammed securities) were transacted through the Hypo Bank Accounts;

(c) 67,000,000 spammed securities were transacted through the Hypo Bank Accounts; and

(d) 96% of the volume and 88% of the value of spammed securities transacted through the Hypo Bank Accounts were sales.

6. The high volume of sales of spammed securities through the Hypo Bank Accounts is an indicator of potential participation by some or all of the Beneficial Owners in transactions which contributed to a misleading appearance of trading activity in, or an artificial price for, securities traded in British Columbia, contrary to section 57 of the Act.

Large volume of market’s total trading in certain spammed issuers
7. During the Relevant Period, the Hypo Bank Accounts’ trades in certain spammed issuers (the Specific Spammed Issuers) accounted for between approximately 20% and 70% of the total market volume of transactions in the Specific Spammed Issuers.

8. The high volume of the Hypo Bank Accounts’ trades in the Specific Spammed Issuers relative to the total market volume of transactions in the Specific Spammed Issuers is particularly indicative of potential participation by some or all of the Beneficial Owners in transactions which contributed to a misleading appearance of trading activity in, or an artificial price for, securities traded in British Columbia, contrary to section 57 of the Act.

Identities of the Beneficial Owners
9. Commission staff have attempted for months to obtain the names and contact information of the Beneficial Owners (the Identities), but have been unable to do so.

10. Hypo Bank says that because of Liechtenstein banking laws it is unable to provide the Identities to Commission staff.

11. On the application of Commission staff, the Liechtenstein Financial Market Authority ordered that some of the Identities be disclosed to the staff (the Disclosure Order).

12. Hypo Bank is appealing the Disclosure Order, as are some of the Beneficial Owners.

Public interest
13. The suspicious activity detailed above indicates that some or all of the Beneficial Owners may have used the Hypo Bank Accounts to participate in transactions which contributed to a misleading appearance of trading activity in, or an artificial price for, securities traded in British Columbia contrary to section 57 of the Act.

14. Without knowing the identity of the Beneficial Owners, Commission staff are unable to collect the evidence that would allow staff to confirm whether some or all of the Beneficial Owners have contravened the Act or acted contrary to the public interest.

15. It is in the public interest for Hypo Bank to cease trading in British Columbia.

¶ 2 The Hearing will be held at the 12th Floor Hearing Room, 701 West Georgia Street, Vancouver, British Columbia, on January 30, 2008.

¶ 3 The Respondent may be represented by counsel at the Hearing and may make representations and lead evidence. The Respondent is requested to advise the Commission of its intention to attend by contacting the Secretary to the Commission at PO Box 10142, Pacific Centre, 5th Floor, 701 West Georgia Street, Vancouver, BC, V7Y 1L2, phone: (604) 899-6500; email: commsec@bcsc.bc.ca.

¶ 4 Determinations may be made in this matter if the Respondent or his counsel does not appear at the Hearing.

¶ 5 December 19, 2007

¶ 6 Brenda M. Leong
Executive Director

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To: PaleskeDrAv who wrote (530)4/30/2008 10:44:26 PM
From: StockDung
   of 574
 
Hypo Alpe-Adria-Bank intends to avoid further losses with General Partners

Nevertheless two-figure improvements to results expected – any losses are no problem for the Hypo – everything already value adjusted

Negative chain of events around the General Partners Group

Klagenfurt, July 17, 2001. After the Hypo Alpe-Adria-Bank has called in the Supervisory Authority with respect to one of the banks closely related to the General Partners Group – the former WMP Bank which is now known under the name of General Commerce Bank - as early as in October 2000, the suspicions around the GP Group, which is active in the field of real estate, brokerage and investment management, are becoming stronger. In order to prevent or limit losses for both lenders and investors, the Hypo Alpe-Adria-Bank AG has filed a statement of the facts of the case with the Klagenfurt State Attorney’s Office. ”Despite this case, we will still achieve a record result in the current year, and the provisions set aside for the GP Group will be easily dealt with and will not affect the planned results;” emphasises Dr. Kulterer.

As the media reported months ago, a number of Austrian banks are in business relationships with the General Partners group of companies and have receivables outstanding. A number of inconsistencies have now occasioned the Hypo Alpe-Adria-Bank to notify the State Attorney’s Office. For the Chairman of the Executive Board, Dr. Wolfgang Kulterer, the prime focus is on the protection of the customers while at the same time preventing further losses to Austrian banks. The Hypo Alpe-Adria-Bank AG is primarily concerned about the clarification of the matter, now that the GP Group is no longer satisfying its obligations to the bank. The Hypo Alpe-Adria-Bank has no interest whatsoever in taking over the Group or a part of it, as alleged by Wolfgang Köstner, who is regarded as the central person within the Group. On the contrary, the Hypo ceded a loan commitment with the WMP Bank at the beginning of the year and terminated the business relationship with this enterprise.

The move by the Hypo Alpe-Adria-Bank AG is only one further step in a long chain of events that extends from the imposition of state supervision on the WMP Bank, the suspension of stock exchange trading, liquidity problems, GP Immobilien’s petition for bankruptcy, the filing of a statement of the facts of the case to the Vienna State Attorney’s Office by a major Austrian bank and disputes with former managerial staff, to a petition for the attachment of Schloss Freyenthurn. The measure taken by the Hypo Alpe-Adria-Bank is also justified by the fact that the GP Group has failed to comply with its obligations and that the calling in of receivables outstanding has had no effect.

The General Partners Group was in the past also active on the Austrian capital market and issued papers that were subscribed by both institutional and private investors. In addition, the shares of some of the companies are listed on the Vienna Stock Exchange. Whether investors will be affected by any illegalities will depend on the further development of the case. GP Group securities have probably been placed throughout Austria, while a majority of the loans are probably held by persons closely associated with the GP Group.

Contact
Silvia Graf
HYPO ALPE-ADRIA-BANK AG
PR International
phone: 0463/5860-880
Email: silvia.graf@hypo-alpe-adria.com

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From: StockDung5/9/2008 5:32:14 PM
   of 574
 
Havala operator Hasan Ali disappears
gunaah.com
By: Neel S



Fifty-six year old Pune based businessman and a stud farm owner Syed Hasan Ali Khan, who has been accused of making three fake passports and of being involved in a Rs 10,000 crore hawala racket, has been declared a proclaimed absconder by the Bhoiwada court on April 30, 2008 after he failed to turn up. Despite two warrants issued against him by the court the police failed to trace him.

On Wednesday, police admitted they feared that Hasan Ali had fled the country via Nepal by using one of his fake passports. Police officials have been trying to trace Ali for the past three months.

Ali is wanted by Pune police after a joint raid by Income-Tax department (IT) and Enforcement Directorate (ED) in January 2007.

The fake passport case registered in February 2008, is being investigated by Worli police. Regional passport office (RPO) has registered a complaint with Worli police, alleging that Ali has procured three fake passports from Hydrabed, Patna and Mumbai. Ali has also made two separate applications for fresh passports from Chandigarh and Guwahati.

Ali faces charges for cheating under the Indian Penal Code and section 12 of the passport Act, which deals in cases in which false information have been furnished to procure a passport.

The cops are now questioning his family members including his wife, who is based in Pune.

As per law, after a person is declared a proclaimed offender, police have to attach his/her property. However, when officials began to identify Ali’s property across India, they found that only five percent of the assets were in his name and the rest were in the name of his wife and two children.

Police said that Ali is believed to own large bank accounts in Switzerland, UAE and UK. He is also suspected to have stashed huge amounts of money in Swiss bank accounts.

Officials also said Ali’s friend, Switzerland hotelier Philip Anandraj, was suspected to be the man who knew about his foreign transactions. But neither the I-T department nor Enforcement Directorate officials were willing to say if Anandraj's statement had also been recorded after Ali was questioned by them in 2007.

Anandraj was in Ali’s duplex flat when I-T personnel had raided the place in January 2007.

Swiss bank accounts details were allegedly recovered from a laptop in Ali’s house. The probe was widened after the ED came in and other foreign accounts were also being investigated, officials said.

Ali is believed to hold 10 Swiss bank accouts and the enforcement directorate is investigating links with billionaire Saudi arms dealer Adnan Khashoggi.

Syed Hasan Ali at the centre of a major money-laundering racket also has a history of several petty criminal cases in Hyderabad before he moved to Pune several years ago.

A total of seven criminal cases, including those of cheating and forgery were registered against Ali in the early 1990’s.

According to the investigating agencies, Hasan Ali’s wealth is believed to be in the region of 35,000 crore and most of it is uncounted. Ali owns a stud farm, pedigree horses and also trades in thoroughbreds. He also owns two Mrecs, has property in Pune and Mumbai. He has the friends among the rich and famous and shuttles between the two cities in his limo in the racing season.

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