Big Government Big Business Big Fraud

Post Office Management Fraud Was Gross     [ 8 February 2020 ]
This is a podcast from Private Eye. An outfit called Post Office Ltd chose to use Horizon, a computer system to run its accounting system. It was prone to frequent errors. They chose to blame sub-postmasters, knowing that the system was wrong. They threw money at lawyers, to allege that it was not their fault. Paula Vennells, the boss then got promotion and pay increases. Those extra thousands depended on her pretence that profits were growing. Business as usual, corruption as usual. One thing was right. The Judge was bright enough to realise that he was being lied to systematically. So he referred matters to the Director of Public Prosecutions.
PS The boss woman, the Right Reverend Paula Vennells is a priestess of the Church of England.
PPS Boris Johnson appointed her as a non-executive board member to the Cabinet Office. This is a position of trust. Does Johnson care?

 

Post Office bosses are to face MPs as part of official inquiry into scandal of staff who were wrongly accused of theft    [ 6 March 2020 ]
QUOTE
The IT scandal that saw hundreds of Post Office staff falsely accused of theft will be the subject of an official inquiry.

MPs on the Commons business committee will this month question former bosses and a Government minister on how postmasters were branded thieves for allegedly stealing from tills, bankrupted and in some cases jailed.

For years the Post Office denied there was anything wrong with its IT, but it emerged the Horizon counter-top computer terminals were riddled with bugs.
UNQUOTE
The management knew the software was rubbish but lied about it. They spent £32 million on lawyers trying to get away with it, which meant putting postmasters in prison. Did they care? Have they apologised? Will Parliament get serious by using the police to sort out the crooks? Don't hold your breath. Vennels, the head woman needed to screw people to get her bonuses. NB Private Eye was there, telling us about their guilt long before the Mainstream Media.

 

Goldman-Sachs Buys Off Prosecutors For $3.9 Billion   [ 26 July 2020 ]
QUOTE
Goldman Sachs will pay $3.9bn (£3.3bn) to Malaysian authorities following a massive fraud in which the country’s sovereign wealth fund was allegedly raided to buy Picasso paintings, jewellery and a mega-yacht. The settlement ends a long-running investigation over Goldman’s role raising money for the scandal-hit 1MDB fund in 2013.

It is a major blow for the reputation of the investment bank, which has pinned the blame on rogue employees. 1MDB was set up to fund infrastructure projects in Malaysia. But as much as $4.5bn was allegedly siphoned off to fund the lavish lifestyles of some of Kuala Lumpur’s most influential families – including Najib Razak, its former prime minister, who lost power following a public outcry and is facing a verdict on corruption charges next week.................

Goldman’s investment banking unit was paid $600m for selling bonds on behalf of 1MDB in a deal overseen by star employee Tim Leissner, who has since admitted bribery and money-laundering in the US. At the time, the investment bank was run by David Solomon, who is now Goldman’s chief executive. He has not been accused of any wrongdoing..........

The Malaysian government said in November that it had rejected an offer of less than $2bn from the bank. It had previously been holding out for as much as $7.5bn. Goldman is still under investigation in the US and is reported to be nearing a deal with the Department of Justice.
UNQUOTE
Anything over a billion is an admission of heavyweight fraud but the bosses stay out of prison. That really matters. The share holders are just mugs who take the hit. Razak looks like a slimy little rogue.

 

Goldman Sachs Boss Criticised For Acting As A DJ    [ 29 July 2020 ]
The fact that he had to bribe the prosecutors to stay out of prison is, well, what does one say, an irrelevant trifle perhaps? It was mentioned, en passant, in the small print, near the bottom. More and better details at Goldman-Sachs Buys Off Prosecutors For $3.9 Billion.

 

Jews Buy Off Prosecutors With $3.9 Billion Bribe  [ 5 September 2020 ]
QUOTE
Malaysia has dropped criminal charges against Goldman Sachs following a massive fraud in which the country’s sovereign wealth fund was allegedly raided to buy Picasso paintings, jewellery and a mega-yacht. 

The Malaysian National News Agency, Bernama, has quoted a High Court judge saying the three Goldman units accused of misleading investors have officially been discharged. Charges against a number of Goldman bosses, including its top banker in Europe, Richard Gnodde, are also understood to have been dropped. 

The move was widely expected after Goldman agreed to pay $3.9bn (£3.3bn) to Malaysian authorities in July, a settlement that ended a long-running investigation over Goldman’s role raising money for the scandal-hit 1MDB fund in 2013. 

1MDB was set up to fund infrastructure projects in Malaysia and turn Kuala Lumpur into an Asian financial hub, but instead huge sums were allegedly looted to buy luxury items. US authorities allege that some of the proceeds were laundered through real estate assets and even funded Hollywood movies such as The Wolf of Wall Street, where actor Leonardo DiCaprio starred as a corrupt trader.

The Wall Street bank, which has always denied any wrongdoing and tried to distance itself from the scandal by arguing that it was duped by one rogue banker, helped raise more than $6bn in bonds issued by 1MDB..............

The bank's settlement with Malaysia does not impact claims against others. Jho Low, a Malaysian financier accused by prosecutors of leading the alleged heist, is believed to be on the run.

He is claimed to have taken out enough money to buy a $30m Manhattan penthouse and the 300ft yacht Tranquility, which was later seized and sold for $126m. He spent $8m on jewellery and a glass piano for Australian model Miranda Kerr and bought a Picasso painting for actor Leonardo DiCaprio’s birthday. He has denied any wrongdoing. 
UNQUOTE
That "one rogue trader" took mugs for six [ 6 ] billion so they got off lightly.

 

Unaoil THE COMPANY THAT BRIBED THE WORLD
QUOTE
A massive leak of confidential documents has for the first time exposed the true extent of corruption within the oil industry, implicating dozens of leading companies, bureaucrats and politicians in a sophisticated global web of bribery and graft.

After a six-month investigation across two continents, Fairfax Media and The Huffington Post can reveal that billions of dollars of government contracts were awarded as the direct result of bribes paid on behalf of firms including British icon Rolls-Royce, US giant Halliburton, Australia’s Leighton Holdings and Korean heavyweights Samsung and Hyundai.

The investigation centres on a Monaco company called Unaoil, run by the jet-setting Ahsani clan. Following a coded ad in a French newspaper, a series of clandestine meetings and midnight phone calls led to our reporters obtaining hundreds of thousands of the Ahsanis’ leaked emails and documents............

Many of those revealed to have been culpable, including the wealthy Ahsani family itself, which runs Unaoil, continue to operate with impunity.
UNQUOTE
Do you believe everything you read? You shouldn't but this one rings true.

 

Errors & omissions, broken links, cock ups, over-emphasis, malice [ real or imaginary ] or whatever; if you find any I am open to comment.