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Non-Tech : GENI: GenesisIntermedia.com Inc -- Ignore unavailable to you. Want to Upgrade?


To: DrAvPaleske who wrote (522)5/25/2006 9:30:43 AM
From: StockDung  Read Replies (2) | Respond to of 574
 
In a world of uncertainty, a reliable record of shady self-dealing

But SkyWay, which only lost $40 million of investors money, is an absolute paragon of excellence, corporate governance-wise, when compared to the DC9's previous owner...

Genesis Aviation is one of several dozen company fronts, all of which contain the name “Genesis” in the title, controlled by one of the key figures in the Iran Contra scandal, Saudi billionaire and long-time CIA asset Adnan Khashoggi.

Last month the Securities and Exchange Commission charged Khashoggi and Ramy Al Batrawi, his lieutenant for the past 20 years, with stock fraud in U.S. District Court for Central California. The men are accused of orchestrating a $130 million fraud involving the stock price of GenesisIntermedia.

When the helpful Khashoggi worked with Oliver North to sell arms to Iran, Ramy El-Batrawi was there, as president of a Khashoggi company, Jetborne International, indicted for illegally ferrying TOW missiles to Iran, an “enterprise” which netted someone—though not the U.S. Government or the Contras it was supposedly funding—a tidy bit of change.

Apparently neither man learned that crime doesn’t pay, because Adnan and Ramy’s recent pilferage make the Kovars look like kids stealing a candy bar from a 7-11 after school.

“Just three months after the company’s Initial Public Offering (IPO), the nearly $17 million raised in the offering was gone,” read one wire service story.

“The creative dealings of defendant El-Batrawi partly explains how this money disappeared so quickly,” reported the AP.

Making money disappear since before you were born
“El-Batrawi had a side deal called "Trade Your Way to Riches," and he thus arranged to have its mailing lists sold to Genesis for $3.8 million of the proceeds lifted from the IPO. Additionally El-Batrawi gave himself $362,149 for flying himself around in his private plane to promote the deal on the IPO. road show.”

Another area where Glenn and Brent Kovar might learn something from past master Khashoggi is how, in your financial fraud’s aftermath, to make yourself scarce…

“Lawyers for Mr. El-Batrawi and Mr. Khashoggi could not be immediately located for comment,” reported the L.A. Times. “An SEC lawyer, Kara Brockmeyer, said the agency had not determined who their lawyers were. Mr. El- Batrawi has no listed telephone number in Los Angeles, and Mr. Khashoggi's whereabouts is not known, according to the complaint.”

The SEC may be interested to learn what The MadCowMorningNews discovered El-Batrawi doing a year ago. The high-roller was spending millions gambling in Vegas, where he flew by private jet. The TV show “Casino Diaries” even profiled him in action.

The DC9 has also been “owned” by Finova Capital, revealed in the early 90’s as a CIA front which also “owned” the C123 military cargo plane used by notorious drug smuggler and CIA pilot Barry Seal, which was later shot down over Nicaragua with Eugene Hasenfus onboard.



To: DrAvPaleske who wrote (522)5/7/2011 8:17:39 AM
From: StockDung  Respond to of 574
 
Hasan Ali Khan 'front man' of arms dealer Khashoggi: ED charge sheet

dnaindia.com
PTI / Saturday, May 7, 2011 17:15 IST

International arms dealer Adnan Khashoggi had helped Hasan Ali Khan open his account with UBS, Zurich, to use it to launder tainted money and for the Pune stud farm owner CHF (Swiss currency) 28.5 million was "petty cash" to buy a hotel in Switzerland.

Khan was acting as a "front man" for Khashoggi, a persona-non-grata in Switzerland, and his UBS account was used to park the arms dealer's money, says the charge sheet filed yesterday under Prevention of Money Laundering Act by the Enforcement Directorate against Khan and Kolkata businessman Kashinath Tapuriah.

The 950-page document quotes Tapuriah as having told them that Khashoggi had introduced Khan to the bank in 1982 and that the Kolkata businessman learnt from the manager of UBS Reto Hartmann that money deposited belonged to the arms dealer, who might have instructed Peter Weily, a former UBS employee and his portfolio manager, not to allow Khan to withdraw any amount above a particular limit.

Tapuriah also told the ED officials that once Khan had shown him the statement of account in 2005-2006 in Zurich having a balance of $2 billion. Tapuriah told his interrogators that Khan had revealed to him the code to operate the account which was "Black Prince".

It was on Peter Weily’s recommendation that Khan had effected the transfer of $300 million to Khashoggi's account temporarily which the latter had returned to Khan's UBS account. Khashoggi's account in the US from where the money was returned to Khan was later identified as tainted money following which Khan' account was blocked by UBS.

According to Tapuriah, the charge sheet says, Khan knew of Khashoggi's movement even while remaining in India.

The charge sheet says Philip Anandraj, an aide of Khan, has said in his statement that the Pune real estate consultant intended to buy Hotel Chateau Gutsch in Switzerland.

"Anandraj also confirmed that the UBS representatives had indeed made a statement regarding Khan’s ability to pay the proposed sale amount of CHF 28.5 million from his petty cash," said ED.

According to ED, the deal for purchase of Chateau Gutsch in Lucerne was finalised and during the payment, UBS informed that USD 30 Crore had arrived with tagged comment "Funds from Weapon Sales".

In its charge sheet, the ED has said that Khan obtained passport from Patna on the forged and fabricated documents after entering into a conspiracy with Tapuriah and Bihar Congress politician Amlendu Pandey.

Tapuriah told ED that he arranged for Khan's passport through Pandey after the stud farm owner informed him that his travel document was in court's custody in Hyderabad because of which he could not operate his bank account with UBS, Zurich.

According to Pandey, Tapuriah told him to arrange a new passport for Khan from Patna and that he was aware that the stud farm owner already had a passport which had been seized.

In his statement, Pandey told ED that Tapuriah informed him that Khan was a "big person" and belonged to the family of Nizams of Hyderabad.

Pandey met the then Member of Parliament Iqbal Singh (now Lt Governor of Pudducherry) and requested him for help in securing the passport. According to ED, Pandey said that Singh called someone in the ministry of external affairs and requested him to get the work done.

URL of the article: dnaindia.com
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