SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

   Non-TechGENI: GenesisIntermedia.com Inc


Previous 10 
From: StockDung4/1/2016 3:20:29 PM
   of 574
 
Chasing debtors Cash-strapped Khashoggi?Intriguing twists and discoveries in a case against a former arms merchant May 25th 2013 | NEW YORK | From the print edition

Belt tightening

REMEMBER Adnan Khashoggi, who amassed a fortune in the 1970s and 1980s brokering arms sales to his fellow Saudis? He was never quite the world’s richest man but he may have been its biggest spender, splashing out $250,000 a day to maintain his lifestyle. At one point his many residences included 16 flats knocked into one in New York. One of his parties lasted five days and was described by an awestruck reporter as “the most extravagant event in European history”. He counted national leaders among his friends.

Mr Khashoggi’s fortunes declined in the late 1980s, thanks to overspending on festivities, ill-advised investments and his entwinement in scandals including the collapse of the Bank of Credit and Commerce International, the fall of Ferdinand Marcos and the Iran-Contra affair—though he was never convicted of criminal wrongdoing. He now claims to be broke. That hasn’t stopped a tenacious creditor and its lawyers hounding him for an 11-year-old debt of $21m to a securities-clearing firm. In a move that would break new legal ground if successful, they are trying to get the American judgment against Mr Khashoggi enforced in his native Saudi Arabia.

The debt was incurred in 2001 from buying shares in GenesisIntermedia, a small NASDAQ-listed firm to which Mr Khashoggi already had close links. The purchases were made “on margin” (only a down-payment was made) through Fleet Securities, then part of FleetBoston, a bank later bought by Bank of America. Weeks later terrorists attacked the World Trade Centre, shaking markets and sending Genesis’s share price into a death spiral. Mr Khashoggi promised to settle with Fleet, but never did.

Early attempts to recover the debt through arbitration got nowhere because the shell company through which Mr Khashoggi traded had been removed from the corporate register in Bermuda. After Fleet Securities changed hands in 2007 its new owner, Broadridge, sued him. In 2011 a district court ordered Mr Khashoggi to pay almost $40m (the original debt plus 9% annual interest). He appealed, but lost earlier this year. The courts concluded that the trading had probably been part of an elaborate scheme to inflate Genesis’s share price while it was touted to potential buyers. This was also the subject of an investigation by the Securities and Exchange Commission; it was settled in 2010 with Mr Khashoggi accepting a five-year ban as a director or officer of a public company.

The plaintiffs made some interesting discoveries during the case. Mr Khashoggi refused to be deposed in America because he had been refused a visa under the Immigration and Nationality Act, which covers terrorists and those with known or suspected links to them. It is unclear whether he is still on the list, or why he was on it in the first place (other than that his father had once been doctor to Osama bin Laden’s father, a construction magnate).

It also emerged that someone with the same name as an official in the Saudi embassy in Washington, Hassan Yousef Mohammed Yassin, had paid at least one of Mr Khashoggi’s legal bills. When the diplomat was subpoenaed for information, he invoked immunity through the embassy’s Washington-based lawyers, who threatened to seek unspecified “sanctions” under the Vienna Convention unless the request was dropped. This fuelled suspicions that the Saudi state was throwing a protective arm round Mr Khashoggi for some reason, though there is no clear evidence of this, nor that the diplomat was the same Mr Yassin who paid the bill. Mr Khashoggi’s sister subsequently said that they had a cousin with that name.

Broadridge remains determined to get the 77-year-old Mr Khashoggi to cough up, even hiring Mintz Group, a firm of investigators, to help its lawyers at Levi Lubarsky & Feigenbaum (LL&F) hunt for assets. They are sceptical of his claims that he long ago frittered away a fortune once estimated at close to $4 billion. But they have yet to find evidence that he shifted any assets into vehicles fronted by nominees. In a 2008 deposition Mr Khashoggi claimed to have only two homes left, in Jeddah and Riyadh, after selling residences in fancy locations such as Monte Carlo and Cannes.

Just deserts

The lawyers are now trying to get Saudi Arabia to enforce the judgment. This won’t be easy. American commercial rulings have more chance of being recognised than those handed down by English courts, says Andreas Haberbeck of Hatem Abbas Ghazzawi, a law firm in Jeddah. But he can think of just one case in which such a judgment was actually enforced, and the debtor was already dead. The $18m by which Mr Khashoggi’s debt has grown since being incurred would be uncollectable under any circumstances because charging interest violates sharia law.

One ray of hope is Saudi Arabia’s new enforcement law. This hands new powers to the special “execution judges” who handle foreign rulings, including the power to force debtors to disclose their assets. However, the procedures for doing this remain “as clear as mud”, says another lawyer. And Saudi courts are unlikely to rush to lay bare the finances of a well-known native son. But Broadridge shows no sign of giving up. Howard Levi of LL&F says his client is “determined to pursue Khashoggi all over the world, including in Saudi Arabia, and then his heirs if necessary.”

From the print edition: Finance and economics

Share RecommendKeepReplyMark as Last Read


From: StockDung1/18/2017 4:22:28 PM
   of 574
 
Cash-strapped Khashoggi? Intriguing twists and discoveries in a case against a former arms merchant

May 25th 2013, 01:00



print-edition icon From the print edition | Finance and economicsMay 25th 2013, 01:00

REMEMBER Adnan Khashoggi, who amassed a fortune in the 1970s and 1980s brokering arms sales to his fellow Saudis? He was never quite the world’s richest man but he may have been its biggest spender, splashing out $250,000 a day to maintain his lifestyle. At one point his many residences included 16 flats knocked into one in New York. One of his parties lasted five days and was described by an awestruck reporter as “the most extravagant event in European history”. He counted national leaders among his friends.

Mr Khashoggi’s fortunes declined in the late 1980s, thanks to overspending on festivities, ill-advised investments and his entwinement in scandals including the collapse of the Bank of Credit and Commerce International, the fall of Ferdinand Marcos and the Iran-Contra affair—though he was never convicted of criminal wrongdoing. He now claims to be broke. That hasn’t stopped a tenacious creditor and its lawyers hounding him for an 11-year-old debt of $21m to a securities-clearing firm. In a move that would break new legal ground if successful, they are trying to get the American judgment against Mr Khashoggi enforced in his native Saudi Arabia.

The debt was incurred in 2001 from buying shares in GenesisIntermedia, a small NASDAQ-listed firm to which Mr Khashoggi already had close links. The purchases were made “on margin” (only a down-payment was made) through Fleet Securities, then part of FleetBoston, a bank later bought by Bank of America. Weeks later terrorists attacked the World Trade Centre, shaking markets and sending Genesis’s share price into a death spiral. Mr Khashoggi promised to settle with Fleet, but never did.

Early attempts to recover the debt through arbitration got nowhere because the shell company through which Mr Khashoggi traded had been removed from the corporate register in Bermuda. After Fleet Securities changed hands in 2007 its new owner, Broadridge, sued him. In 2011 a district court ordered Mr Khashoggi to pay almost $40m (the original debt plus 9% annual interest). He appealed, but lost earlier this year. The courts concluded that the trading had probably been part of an elaborate scheme to inflate Genesis’s share price while it was touted to potential buyers. This was also the subject of an investigation by the Securities and Exchange Commission; it was settled in 2010 with Mr Khashoggi accepting a five-year ban as a director or officer of a public company.

The plaintiffs made some interesting discoveries during the case. Mr Khashoggi refused to be deposed in America because he had been refused a visa under the Immigration and Nationality Act, which covers terrorists and those with known or suspected links to them. It is unclear whether he is still on the list, or why he was on it in the first place (other than that his father had once been doctor to Osama bin Laden’s father, a construction magnate).




3



It also emerged that someone with the same name as an official in the Saudi embassy in Washington, Hassan Yousef Mohammed Yassin, had paid at least one of Mr Khashoggi’s legal bills. When the diplomat was subpoenaed for information, he invoked immunity through the embassy’s Washington-based lawyers, who threatened to seek unspecified “sanctions” under the Vienna Convention unless the request was dropped. This fuelled suspicions that the Saudi state was throwing a protective arm round Mr Khashoggi for some reason, though there is no clear evidence of this, nor that the diplomat was the same Mr Yassin who paid the bill. Mr Khashoggi’s sister subsequently said that they had a cousin with that name.

Broadridge remains determined to get the 77-year-old Mr Khashoggi to cough up, even hiring Mintz Group, a firm of investigators, to help its lawyers at Levi Lubarsky & Feigenbaum (LL&F) hunt for assets. They are sceptical of his claims that he long ago frittered away a fortune once estimated at close to $4 billion. But they have yet to find evidence that he shifted any assets into vehicles fronted by nominees. In a 2008 deposition Mr Khashoggi claimed to have only two homes left, in Jeddah and Riyadh, after selling residences in fancy locations such as Monte Carlo and Cannes.

Just deserts

The lawyers are now trying to get Saudi Arabia to enforce the judgment. This won’t be easy. American commercial rulings have more chance of being recognised than those handed down by English courts, says Andreas Haberbeck of Hatem Abbas Ghazzawi, a law firm in Jeddah. But he can think of just one case in which such a judgment was actually enforced, and the debtor was already dead. The $18m by which Mr Khashoggi’s debt has grown since being incurred would be uncollectable under any circumstances because charging interest violates sharia law.

One ray of hope is Saudi Arabia’s new enforcement law. This hands new powers to the special “execution judges” who handle foreign rulings, including the power to force debtors to disclose their assets. However, the procedures for doing this remain “as clear as mud”, says another lawyer. And Saudi courts are unlikely to rush to lay bare the finances of a well-known native son. But Broadridge shows no sign of giving up. Howard Levi of LL&F says his client is “determined to pursue Khashoggi all over the world, including in Saudi Arabia, and then his heirs if necessary.”

Share RecommendKeepReplyMark as Last ReadRead Replies (1)


To: StockDung who wrote (570)1/18/2017 4:34:21 PM
From: StockDung
   of 574
 
The incredible story of the world’s richest arms dealer, Adnan KhashoggiJust how did the world’s richest man lose his fortune?

By The Gentleman 22nd September 2016


Shawn Baldwin for The New York Times


By The Gentleman 22nd September 2016

Adnan Khashoggi was the charismatic arms fixer clients, classmates and even the US government could rely on. But unlike his rivals, his deals were brokered not in backstreet dens but at parties drowning in Champagne, caviar and Hollywood A-listers. So just how did the world’s richest man lose his fortune?

I first heard of Adnan Khashoggi at a gathering in a golf club outside Marbella. The guests were the owners of mansions dotting the hills on the outskirts of town. If you looked down the valley past the fairways and greens, you could see the tax haven of Gibraltar just out to sea. I was chatting to a London hedge fund manager who, realising I didn’t work in finance, changed the topic to the club’s previous owner.

‘You know all of this used to belong to Khashoggi?’ he said. ‘This whole estate used to be his private hunting ground. This was his lodge.’ I’d wondered what relation the taxidermy and animal skulls plastered on the walls bore to golf, but I had no idea who the man was. Having seen the size of the estate spread across the face of two mountains, I was intrigued to find out.


One of Khashaggi's many homes
Today, he is something of a forgotten legend, but in the Eighties he was at the very centre of the international jet set. Although never convicted of any crime, he made his $4bn fortune from brokering deals between arms manufacturers, governments and private clients. He was considered the richest man in the world and became famous for his life of extravagance and excess.

The media labelled him the era’s most prolific weapon dealer before he was implicated in a scandal that destroyed his business and almost brought down the US government in the process.

The hedge fund manager was surprised I’d never heard of him and told me that Khashoggi’s sister was Dodi Al Fayed’s mother, thinking it’d give some idea of who he was talking about. ‘The Spanish government seized the estate from him and sold it on, but the basement is completely untouched since he lived here. It’s like a time warp. The parties he had down there were legendary.’


Khashoggi on the cover of The Washington Post in 1984
It was enough to spark my curiosity and over the course of the last few years I have spoken to people who knew him or have watched his movements with intense interest. And, I eventually found my way into that forgotten basement.

Some months after the meeting at the golf club I spoke to Ronald Kessler, Khashoggi’s biographer. He attended some of the soirées at the lodge when Khashoggi was at the height of his fame. His 50th birthday saw the party to end them all.

‘One of his brothers gave him a lion cub,’ he says. ‘Shirley Bassey belted out, “Happy birthday dear Adnan.”’ There were Hollywood stars, including Brooke Shields and Sean Connery. Several refrigerator trucks were parked outside solely to cool the champagne. ‘The birthday cake was a work of art – literally,’ Kessler continues. ‘On top was a gold crown measuring 3ft across and made of sugar. Khashoggi’s chief chef had flown to the Louvre to study Louis XIV’s coronation crown, then returned with his plan for the cake.’ Balloons were dropped from the ceiling adorned with the slogan ‘World’s Greatest’. ‘Anyone who was there knew they’d reached the pinnacle of high society.’

Although it may all sound like a trumped-up Ferrero Rocher advert, in the rarefied world of the Eighties, business magnate reputation was everything. If you needed an arms deal funded or a shopping mall built, a healthy bottom line or triple-A credit rating were by the by. Far better to throw a $6m birthday party and sweep your creditors away to Marbella on one of your three private jets. Risky deals were made and dubious loans granted over little more than a hunch and an expensive dinner. No one knew this better than Adnan Khashoggi.


With his second wife, Lamia, in Monaco in 2006
According to folklore, the young Khashoggi brokered his first business deal when still at high school. He arranged a meeting between the fathers of two classmates, one a hotel manager, the other an oil magnate, charging $1,000 for the privilege. A few years later he quit university in the US and used the money his father gave him for his studies to broker a deal between US and Saudi logistics companies and received $50,000 in commission. With this he formed his company Triad Holdings, which he used for legitimate business interests throughout his career. It was the front companies in Switzerland and Liechtenstein he used for the other deals.

Kessler told me that, like all great networkers, he genuinely liked people and people genuinely liked him. Many years ago Donald Trump said, ‘Khashoggi understood the art of bringing people together and putting together a deal better than almost anyone – all the bullshitting part, of talk and entertainment.’

Trump, like so many business tycoons of the era, seemed to have inherited some of Khashoggi’s panache for making deals and some of his taste for garish decadence. He also inherited his multi-million dollar superyacht, Nabila. Trump bought it from the Sultan of Brunei who seized it from Khashoggi when he defaulted on a loan for which the boat was security.

The Nabila, named after Khashoggi’s daughter, was the jewel in the crown of his billionaire lifestyle. At a total cost of around $80m, it had a 12-seat movie theatre, two saunas, a swimming pool, a discothèque, a jacuzzi, a billiard room and 11 guest rooms all clad in white chamois leather and spread over five decks. The master suite had four rooms and a bathroom with a solid gold sink. The glass was bulletproof, but the ship also had an on-board ‘hospital’ with the slightly macabre addition of a morgue, if all else failed. In the Bond film Never Say Never Again, the ship was used as the nerve centre for an international criminal mastermind.

By the mid-Eighties, Khashoggi’s property empire included 12 homes spread across the world: Cannes, Paris, Madrid, London, and, of course, Marbella. In New York he bought 16 flats and knocked them together into one vast apartment. He owned 100 limousines, three private jets and boasted a South Korean bodyguard trained in martial arts. He also featured on the cover of Time magazine and TV shows such as Lifestyles of the Rich and Famous, which typified the image of the Eighties tycoon.

The show was hosted by Robin Leach, who joined Khashoggi at his homes, on his private jets and his superyachts. ‘He was the Gatsby of his time,’ he says. ‘At his parties it was unlimited champagne, unlimited caviar, fancy dresses, beautiful jewels and a slew of Hollywood celebrities flown in on private jets.’


Inside Khashoggi's private jet
As Mr Leach had met so many of the Eighties wealthiest, I asked him what set Khashoggi apart? ‘The ability to fly to any continent at a minute’s notice, the houses in all the swanky places including his Mount Kenya Safari Club estate, the New York apartment – all fabulously decorated. No expense spared.’

His comments on Khashoggi’s character sounded very familiar. ‘Warm, friendly, sociable, a winning smile that could charm anybody, even his detractors. The time spent in his company was always fun and enjoyable except once when his bodyguards wanted me to throw a game of table tennis so he won. You would never have guessed he was involved in arms deals.’

The fact that Khashoggi worked so hard to cultivate a lifestyle of extravagance might suggest he grew up in the orbit of exceptional wealth, but he didn’t. He was from a relatively modest, middle-class family. His father was a physician, distinguished by the fact he was family doctor to King Abdulaziz of the House of Saud. Abdulaziz was the ruler who unified Arabia before he oversaw the discovery of petroleum and its mass export to the west.

‘Carnegie began manufacturing steel when there was a great need for it for railroads,’ Kessler suggests. ‘One could argue that Khashoggi fell into a similarly fortunate situation.’ He came along at just the same time as Saudi Arabia’s billions of petrodollars and was canny enough to identify it along with their need for arms. All that was left was to bring together the American arms manufacturers and his childhood connections. He put two and two together and made billions over the course of the Sixties and Seventies.

Not that Khashoggi himself saw what he did as arms dealing. When an interviewer, perplexed at how it could be called anything but, asked what it was he was up to Khashoggi replied simply, ‘Marketing’.


Khasshoggi on the cover in 1987
Indeed, the director of Lockheed Martin described Khashoggi as a one-man marketing department, and the company rewarded him in kind with over $100m in the time he worked with them. The main customer was the Saudi government, but he helped smaller clients too. He reportedly provided David Stirling, who founded the modern SAS, with arms for a covert operation in Yemen in 1963 and countless others we may never know about.

While Khashoggi’s public image and business interests entered the stratosphere, his personal life started to become rather more tumultuous. His first marriage in 1961 was to English socialite Sandra Daly, who was half his age, double his height and grew up on a Leicester council estate. She subsequently converted to Islam and took the name Soraya before she became pregnant with Khashoggi’s children. It later transpired the Conservative MP Jonathan Aitken had fathered at least one of them.

‘Khashoggi was 5ft 4in tall and weighed about 200lbs, but he somehow seemed robust more than flabby,’ Kessler told me. ‘He had a deep gaze with a charming mystery to it.’ His diminutive figure didn’t appear to be an issue when it came to women.

Khashoggi was no stranger to infidelities himself. In 2006 he gave an interview freely admitting his penchant for prostitutes and claimed he’d hired Heather Mills, Paul McCartney’s ex-wife, as a call girl for one of his parties at the Marbella hunting lodge. Despite this, when I asked Kessler if he knew what happened at the basement parties I’d been told about he declined to comment.

Khashoggi’s supernova lifestyle reached fever pitch in the mid-Eighties. Some estimates suggest he was spending around $300,000 a day when the scandal that would bring about his downfall began to emerge. The Iran Contra Affair involved a secret sale of weapons by the US government to Iran when it was supposed to be under an arms embargo. The Reagan administration initiated the sale as part of a complex deal that led Iran to release US hostages and fund the Contra rebellion in Nicaragua on behalf of the US. When the scandal hit in 1987, Reagan made a grovelling public apology for misleading the American public (‘There’s nothing I can say that will make the situation right,’ he explained) amid calls for his impeachment and pressure from Congress. And who was it that brokered the arms deal? One Adnan Khashoggi.

In 1988, Khashoggi was arrested in Switzerland accused of concealing funds. He was swiftly extradited to the US on charges of racketeering and fraud, but later cleared by a Federal jury. The damage to his reputation was done though and the court cases came thick and fast after that. He began defaulting on debts and in the early Nineties his empire and obscene lifestyle quickly unravelled. (In 1998, for example, he settled one £10m gambling bill racked up during a three-month spree in 1986 at the Ritz Casino in London.)


Khashoggi with his second wife, Lamia
Now 80, Adnan Khashoggi is still with us. Word has it he ekes out a modest life in Monaco with just $400m to his name. He was implicated in a money laundering scam in 2011 and was allegedly consulted by the US government on the 2003 Iraq invasion, but his profile has all but evaporated. Those who played a role in his life – ex-house maids, ex-wives, those looking to recoup money – tell their stories in the news far more often than Khashoggi himself.

The long line of tales of court cases and companies trying to recoup money remain. One creditor tried to recoup an 11-year-old debt, plus interest, through the Saudi courts, but lost because interest is banned under Sharia. It seems Khashoggi may have retained some of his luck at least.

Years after the night at the golf club, the idea of the untouched basement, the time capsule of Khashoggi’s fame, still hadn’t left me. I got in touch with the owners of the estate in Marbella, who agreed to show me around.

I was led down a staircase that spiralled deep into a hall of mirrors. Ahead was a stage and a dance floor surrounded by velvet sofas, and I was filled with a sense of awe and ghoulishness as I began to realise just how untouched the place really was. The DJ booth, for instance, still had his record collection strewn across the shelves and turntables, while small rooms, into which guests could disappear to find privacy, gathered layers of dust. Past the wine cellar and old hunting trophies was a firing range where human shaped targets still hung at the far end.

But, there my exploration was forced to an abrupt halt by a padded door, shut tight with a huge lever. My hosts told me they had no idea what was back there, no one had ever opened it. Beyond the basement’s veneer of decadence, sociability and nods to great violence was something unknowable, something perhaps only Khashoggi had ever really known. Much of the mystery of Adnan Khashoggi remains, perhaps never to be explained.

This article was written by Henry Wilkins for our March/April issue. Subscribe to the magazine here.

Share This Article/ Shares

Share RecommendKeepReplyMark as Last Read


From: StockDung5/27/2017 9:33:45 PM
   of 574
 
I was a Saudi arms dealer’s ‘pleasure wife’

By Jane Ridley
May 27, 2017 | 4:57pm

Billionaire Saudi Arabian arms dealer Adnan Khashoggi is best known for his roles in some of the most infamous political scandals of the 1980s. They include the Iran-Contra affair (he was a key middleman in the arms-for-hostages exchange) and accusations that he concealed funds alongside Philippines First Lady Imelda Marcos. (Khashoggi was acquitted on federal charges of obstruction of justice and mail fraud after more serious charges of racketeering and conspiracy were dropped.)

But the 81-year-old, who now lives in Monaco, was also a womanizer with multiple wives and a bevy of beautiful girls at his beck and call. Among them was young American model Jill Dodd. Ahead of the June 6 publication of her memoir, “ The Currency of Love: A Courageous Journey to Finding the Love Within,” Dodd — now 57 and a fashion designer — shares her story of sex, drugs and life as a member of Khashoggi’s harem with The Post’s Jane Ridley.

Sitting on the bed in our Middle Eastern caftans, I knew it was only a matter of time before one of us leaned in for a kiss. After all, we’d been dancing around each other for more than a month.

But Adnan, who had just watched me in the nude, taking a bubble bath, held my face in his hands.

Modal TriggerJill Dodd in a 1978 modeling shot.Robert Kittila“We can’t kiss until I tell you the situation,” he said. “I want you to be one of my pleasure wives. By Saudi Arabian law, I’m allowed to have 11 pleasure wives and three legal wives.

“I won’t kiss you until you agree to this contract.”

“Yes,” I say and we seal the agreement as our lips meet. In that moment, I become a member of Adnan’s harem, taking turns with other women to have sex with the man I love.

It was fashion modeling that allowed me to mingle with movers and shakers like Adnan. I’d grown up middle-class — my dad a fireman, my mom a secretary — in Downey, Calif., 10 miles from downtown Los Angeles.

In 1976, when I was 17 years old and 5-foot-9, I answered an ad in the LA Times for a fit model. Before long, I was modeling swimsuits for magazines and catalogs. I joined a not-so-good local agency but then got lucky and signed with the prestigious Wilhelmina Models when I was 20.

The agency dispatched me to Paris, even though I didn’t have the signature ’80s look of big blond hair and perfect teeth. I was a size 6 and curvier than most models of the time. Nevertheless, I started getting high-profile jobs. I was on the cover of Olympe magazine in France and made it into the French editions of Vogue and Marie Claire.

Then, in August 1980, I accompanied my booker, Pepper­*, on a weekend jaunt to Monte Carlo and one of her friends invited us to a party in Cannes. The venue was Le Pirate, where long-haired, shirtless waiters strummed guitars and banged tambourines. A crackling bonfire, 20 feet high, lit up the night sky. A “pirate” handed me a glass of Champagne, which I swigged before throwing the glass into the fire, just like all the other guests. It was so wild and decadent.

Modal TriggerAds and Magazines that Jill Dodd posed for.Margo MoritzThat’s when I noticed a man smiling and watching me. He reminded me of my friend’s dad. He brought over a chair and sat down. His short stature, round tummy and balding head made me glad he wasn’t a younger guy who was obviously trying to sleep with me.

It was too loud to talk so he pulled me up to dance. The pirates circled us and the guests clapped with the music. Suddenly, my dance partner stopped, grabbed a chair and threw it into the fire. I hurled one in too. We laughed and slammed together like two magnets, whirling around before the flames.

Next, the man and one of the pirates grabbed my hands and feet, scooped me up and swung me back and forth like a rag doll, my hair trailing in the dust. I totally surrendered to the spirit, euphoric with freedom.

Giddy and out of breath, I finally sat down. My new friend gazed into my eyes as he tenderly pushed up my sleeves and used his fingertips to write “I love you” in red on my forearm. It took me a minute to realize it was in blood. Accidentally or not, he had cut himself with a piece of glass.

After I agreed to be his ‘pleasure wife,’ we had sex. Even though he was 24 years older than me, he was an extraordinary lover

I was stunned but I liked it. It was as if we had made some secret pact. A pirate saw the blood and whisked off the man for a bandage. I just kept looking at the message on my arm.

Pepper rushed over. “Oh my God, Jill. Do you know who that was?” Her words pulled me out of my dreamlike state. “It’s Adnan Khashoggi!” The name meant nothing to me; it was only later that I learned he was a wealthy entrepreneur and one of the most well-known men from Saudi Arabia.

The following day, I got a phone call from an acquaintance of Adnan’s. “Jill, you’re invited to Adnan’s yacht for dinner tonight. He really wants to see you,” the man said. I’d seen the boat from the shore the previous evening, all lit up and the size of the Queen Mary. I wanted to go, but I was also nervous.

“I’ll go if you come with me,” I told Pepper.

We boarded the 280-foot yacht, named Nabila after Adnan’s daughter. In 1983, it was used in the James Bond film “Never Say Never Again” and was later bought by the Sultan of Brunei; eventually, it would be owned by Donald Trump who sold it for $20 million to pay off bankruptcy debts in 1991.

Adnan was there to greet us. “Girls, let me take you to dress for dinner,” he said, leading us to a room lined with closets full of couture gowns. I couldn’t believe my eyes — Dior, Yves Saint Laurent, Valentino and Chanel. I chose a delicate gray Lanvin dress with a tight bodice and spaghetti straps. A pair of metallic silver shoes completed the look.

At dinner, I realized I’d never met such an intelligent, worldly and amusing man as Adnan, a 44-year-old father of five. Yes, he had incredible wealth, but he also had a peaceful kind of strength. Slowly, I was falling for his charms. With heels on, I was seven or eight inches taller than him, something which would intimidate most men. But not Adnan.

Modal TriggerWe did not kiss that night, instead talking until 5 a.m. Adnan quizzed me about my non-existent romantic life and explained how he made his fortune exporting American-made vehicles to Saudi Arabia. He told me that the party at Le Pirate had cost him $25,000 — they send you a bill based on the destruction you caused — and that it cost around $400,000 per month to keep the yacht.

A few days later, when we were both back in Paris, Adnan invited me for lunch at his mansion. For the first time, he talked about his divorce from his ex-wife, Soraya. I later found out that he already had a second wife, Lamia, who I would meet in the beginning of 1981. Not surprisingly, given my romantic relationship with her husband by then, she seemed standoffish. That summer, when I attended the birthday party for their 1-year-old son, she was equally cold.

Over the next few weeks, Adnan wined and dined me — always allowing me to pick out a couture outfit from his collection — but there were other girls in the picture. Some of them looked so young, they could have been assumed to be high schoolers.

It was in late September 1980 at Adnan’s expansive estate near Marbella, Spain — where Adnan had me and a girl named Sabine (who I later found out was another of his love interests) flown in on his private DC-9 jet — that the “contract” was agreed upon. I’d been there for one week horse-riding before he arrived from his travels. I was awoken in the middle of the night by Adnan, who then drew me a bath and sat on a stool next to the tub. We had another deep conversation and, after snorting cocaine, he questioned how and when I’d lost my virginity.

After I agreed to be his “pleasure wife,” we had sex. Even though he was 24 years older than me, he was an extraordinary lover.

As the months went by, I just wanted to be with Adnan and didn’t care about the details. He was my boyfriend. Even though there were other women around, I didn’t know who was a fellow leisure wife, a casual lover or a flirtatious friend. There was no real relationship between us females.

When we visited Adnan’s compound in Kenya, there was just one other pleasure wife on the trip. Sometimes, however, there were larger groups of women — between five and eight on any occasion. We seldom mixed but when we did, usually at business dinners, there was an undercurrent of rivalry. As long as I sensed I was Adnan’s favorite and was placed opposite him at dinner, I couldn’t help feeling superior.

I also felt independent because I continued to pursue my modeling career — a job that Adnan disapproved of, but couldn’t stop me from doing. It wasn’t long before I decided to move back to Los Angeles, so the place I visited Adnan most was his villa in Las Vegas. As my true passion was fashion design, in March 1981 I enrolled at the Fashion Institute of Design & Merchandising, with Adnan paying my tuition.

When it came to his business, I was completely ignorant. I knew he met with world leaders like Ronald Reagan. He sometimes talked about aircraft deals with Saudi Arabia but, as a 21-year-old child, I wasn’t interested.

Modal TriggerBut things started to turn sour. I’ll never forget in August 1981 when Adnan came into my suite at midnight, set a box on the bedside table and kissed my forehead. I woke up and turned toward him. When he saw my face, he whispered: “Oh, I have the wrong room. Sorry, go back to sleep. Keep the gift.” Before I could respond, he was gone. My heart dropped. He had thought I was another girl.

There was no joy opening the gift meant for someone else. Inside was an 18-karat solid gold necklace. I pictured Adnan and the other girl making love and physically ached. Doubt started to sink in and I wondered if I could handle the harem any longer.

Another time, I declined a 20-carat diamond ring, which felt too opulent. Later, Adnan gave it to his house manager. I thought: “Maybe that ring didn’t mean much to him.”

By the beginning of 1982, I noticed a change in the type of girls who showed up at the dinners. They were less sophisticated models from Hollywood agencies. Not at all like the stunning female doctor, also a leisure wife, whom he had put through medical school while also funding my design courses.

I felt increasingly weird about it all. I worried about AIDS, as we all did at the time. I didn’t really know who else Adnan was sleeping with and it terrified me. Another driving force was my need to be independent. I felt that accepting large gifts might mean I owed Adnan, rather than it just being a simple romance.

Modal TriggerJill Dodd at her home near San FranciscoMargo MoritzOur relationship ended in the summer of 1982, although there was no written contract to rip up. It was an amicable split and we kept in touch by telephone for years. In 1989, I founded the surfing- and snowboarding-inspired clothing line Roxy and became a successful business owner.

I continued to have an affection for Adnan. I missed him and thought about him all the time. The last occasion we spoke was over the phone in 1988 when I was a single mother after my first divorce. He offered to send a plane to pick me up in California and fly me to the King of Morocco’s Palace in Monaco, where he was staying. I didn’t go because I had a jealous boyfriend. That’s my biggest regret. I should have gone, even just to say thank you for my education.

Now I’m the proud mother of a 32-year-old son and two daughters, aged 22 and 17, and live in Marin County, Calif., with my third husband, Jeff. We’ve been married 18 years.

When I was in my 20s, I had a sense of shame about being with Adnan. I learned that, when you’re with someone with multiple wives, people assume you’re a hooker. But I never forfeited my independence, ambition or creative expression when I was with Adnan and have no regrets.

I’ve learned a valuable lesson: Neither money nor love are worth the sacrifice of integrity, inner peace and authenticity.

*Some names have been changed.*

FILED UNDER BOOKS , IRAN-CONTRA AFFAIR , MEMOIRS , MODELS , SAUDI ARABIA , SEX

Share RecommendKeepReplyMark as Last Read


From: StockDung3/22/2018 5:38:41 PM
   of 574
 
Botswana a hotbed of international fraudsters-Part II

In this two part series Mmegi correspondent Alexander von Paleske tracks the underhand dealings of international fraudsters. In this second part he looks at the story of the infamous fraudster Rakesh Saxena and his friends

In 2001 Rakesh Saxena's friend and fellow fraudster Adnan Khashoggi, via his Bahamas-based company Ultimate Holdings allegedly pumped up the stock of a Nasdaq bubble company, Genesis Intermedia, in which Ultimate Holdings was a majority shareholder.

The company was built around a book by a John Gray, "Women are from Venus and Men are from Mars".

Involved in that scam were Deutsche Bank in Toronto and a slew of criminal stockbrokers. After the scam collapsed in 2001, while Khashoggi and his friend El Batrawi were 130 million US Dollar richer in their wake, broker houses filed for bankruptcy and 200 employees lost their jobs. The damage amounted to more than 300 million US Dollars.

Deutsche Bank, the biggest German bank has now settled out of court and last year paid 350 millions US Dollar, cash, while still denying any responsibility for the disaster.

Meanwhile Saxena in Canada was busy. He appointed the leading opposition MP in the Canadian Parliament, John Reynolds as board member in a flimsy company called WaveTech while fighting extradition to Thailand at the same time. Corruption perhaps, otherwise why else would he suddenly enlist an MP in his company while appealing for government help in overturning the extradition order?

Saxena was involved in a scandal around a company in South Africa in 2004, called Platinum Asset Management. PAM later moved to Botswana after SA government authorities started investigating it.

However shared success is double success, so Saxena went to good old Europe in 2000 with his friend Khashoggi. They linked up with a Filipino named Amador Pastrana.

Pastrana had already earned himself the reputation as being king of the boiler rooms earning him more than a billion Dollars.

Boiler rooms are cramped small offices, from where the selling of shares to unsuspecting clients is organized. They apply high-pressure sales pitches on their victims.

Their usual victims are those people who have money but no banking experience. They are neither banker nor broker.

The shares they sell to pensioners, and medium income earners are worthless, artificially pumped up Penny stocks and the clients never see their money again.

Saxena, Khashoggi and Pastrana bought together the WMP Bank AG in Vienna, Austria renamed it General Commerce Bank and turned it into a boiler room. The fraud would involve, in value, roughly one billion US Dollars.

Their partners in crime were the US convicted fraudsters Regis Possino, Raoul Berthaumieu and Sherman Mazur. In 2001 the Bank was closed. They had made 1 billion in one year.

Last year I got a visit by two high ranking members of the Botswana Police at Marina Hospital where I work.

They were sent by a top police officer to get information about how the international network of boiler room gangsters work.

I brought them in contact with the Financial Services Board of South Africa. I also gave them the material of my investigations.

Perhaps this marks the end of Botswana being a favourite destination for international fraudsters.

Photograph: Financial fraudster Rakesh Saxena
Courtesy of www.nriinternet.com

\http://www.mmegi.bw/index.php?sid=1&aid=10&dir=2007/March/Friday23/

Share RecommendKeepReplyMark as Last Read


From: StockDung10/15/2018 3:35:47 PM
   of 574
 
Saudi billionaire playboy Adnan Khashoggi - once the world's richest arms dealer who married twice but also kept ELEVEN 'pleasure wives' - dies aged 82 after battling Parkinson's


Saudi arms dealer Adnan Khashoggi died peacefully today aged 82 in LondonIn the early 1980s he was one of the world's richest men with $4billion fortune


He most famously brokered arms deals between US firms and Saudi ArabiaThe maverick married twice but entertained up to 11 so-called 'pleasure wives' By CHARLIE MOORE FOR MAILONLINE

PUBLISHED: 13:09 EDT, 6 June 2017 | UPDATED: 05:27 EDT, 7 June 2017



+15

Flamboyant arms dealer Adnan Khashoggi, who conducted his businesses deals at lavish champagne parties, has died at the age of 82

Flamboyant arms dealer Adnan Khashoggi, who conducted his businesses deals at lavish champagne parties, has died at the age of 82.

The Saudi was worth £2.4billion at the peak of his wealth in the 1970s and was often said to be the richest man in the world.

He was the most prolific weapons dealer of his era who brokered deals with governments, arms manufacturers and private clients across the globe.

While his rivals carried out business in secret, Khashoggi did deals at champagne and caviar parties that lasted for days, often in the company of Hollywood stars.

On one occasion, the Stanford-educated magnate held a party in Istanbul for actress Liz Taylor after her cancer operation, while reportedly hiring rock band Queen to play at another bash.

Legend has it that he spent £150,000 a day at the height of his wealth, before he was implicated in the Iran-Contra affair in the mid-1980s.

Khashoggi was said to have brokered a secret sale of weapons by the US government to Iran when it was supposed to be under an arms embargo.

Ronald Reagan’s administration triggered the sale as part of a complex deal that led Iran to release US hostages and fund the Contra rebellion in Nicaragua on behalf of the US.



+15



+15

Roxy founder Jill Dodd (left) says she was the pleasure wife of notorious billionaire arms dealer Adnan Khashoggi (right, in an undated photo)



+15

Chateau Louis XIII looks over the Bay of Cannes. It was once owned by Adnan Khashoggi



+15

Khashoggi's yacht, the 280-foot Nabila, pictured in 1983 in The Harbour Of Monaco



+15

Billionaires Soraya and Adnan Khashoggi at the wedding of their daughter Nabila in 1992

Reagan was forced to apologise when the scandal became public in 1987.

His empire unravelled amid a series of court cases and financial difficulties forced him to sell some of his assets, including his superyacht, Nabila, which eventually ended up in the hands of Donald Trump.

Khashoggi, who was born in Mecca to the Saudi king’s personal doctor Muhammad Khashoggi, married Sandra Daly, a 20-year-old English woman who converted to Islam and took the name Soraya.

They had five children and Soraya gave birth to another daughter, Petrina Khashoggi, shortly after the couple divorced.

RELATED ARTICLES Previous 1 2 Next
Revealed: Liz Hurley's VERY saucy postcard she sent to... Virginity for sale to the highest bidder: Teenager, 18,... Amazon buys script for a show about Monica Lewinksy and...
SHARE THIS ARTICLE
Share



+15

Adnan Khashoggi with his daughter Nabila (left) and third wife Shahpari (right) as they watched Nabila's London acting debut



+15



+15

Adnan and his wife Lamia enjoyed attending several film premiers throughout their time together

Scandal: The Iran Contra affair
Khashoggi was said to have brokered a secret sale of weapons by the US government to Iran when it was supposed to be under an arms embargo.

Ronald Reagan’s administration triggered the sale as part of a complex deal that led Iran to release US hostages and fund the Contra rebellion in Nicaragua on behalf of the US.

Reagan was forced to apologise when the scandal became public in 1987.

In the same year, Khashoggi appeared on the front cover of Time magazine below the headline: ‘Those Shadowy Arms Traders: Adnan Khashoggi’s High Life and Flashy Deals’.

A year later he was arrested in Switzerland accused of concealing funds. He was extradited to the US on charges of racketeering and fraud, but later cleared by a Federal jury.

But the damage to his reputation was done and his empire began to unravel as further court cases against him followed.

However, a DNA test carried out when Petrina reached 18 revealed that she was the love-child of Jonathan Aitken, the ex-Conservative minister who was jailed for perjury in a libel case.

Khashoggi, who married again and had a son, was no stranger to infidelities himself. He freely admitted his penchant for prostitutes and was said to have entertained 11 ‘pleasure wives’ on his countless yachts and at numerous holiday homes.

Mr Aitken, now 74, remained friends with Khashoggi and saw him shortly before his death. He said last night: ‘He made big mistakes but he was a good man.’



+15

Adnan Khashoggi, his wife, Lamia Khashoggi (L) and Nabila Khashoggi (right), attending the 1988 Monaco Red Cross ball



+15

Dodi Fayed, who had a romantic relationship with Diana Prince of Wales, with his mother Samira Khashoggi who is Adnan's sister



+15

Soraya Khashoggi was one of the most beautiful, certainly the most intriguing and, famously, one of the richest women of her generation



+15

Khashoggi (pictured) welcomed Dodd and her friend aboard and invited them to 'dress for dinner' before he led them to a huge walk-in closet filled with designer dresses



+15

Dodd is a former model, who was featured in the pages of French Vogue, before she joined the billionaire's harem

Soraya Khashoggi's love child
Petrina Khashoggi is the love child of Soraya and disgraced Tory minister Jonathan Aitken.

Soraya divorced wealthy arms dealer Adnan soon after she was born, and kept the true father’s identity a secret.

Her daughter grew up fantasising that he would be a ‘perfect’ and exciting man, perhaps a film star, war hero or adventurer.





Petrina Khashoggi (left), is the love child of Soraya and disgraced Tory minister Jonathan Aitken

It was only when Miss Khashoggi was 16 and a mutual friend commented on the similarity between her and Alexandra that she began to suspect the truth.

Two years later it was confirmed after Aitken took a DNA test.

The revelation came shortly before he was jailed for perjury after lying over who had paid his bill at the Ritz hotel in Paris.

Miss Khashoggi described the discovery as ‘overwhelming’.



+15

Soraya Khashoggi, wife of Saudi multi-billionaire, Adnan Khashoggi

Share RecommendKeepReplyMark as Last Read
Previous 10