Tuesday, January 4, 2011

The Road Less Travelled: MACC Mangkuk Hayun Perabih Beras Method of Getting readily available information

Gua terkejut baca Bujai's post...........

MACC goes global. The had cancelled a London trip to interrogate PI Bala last year. Now they will go to Paris in effort to find evidence linking Alcatel to giving out bribes worth millions of ringgit to few Malaysians in a tender which they finally won .

Hebat MACC ni! That's the way to go but dont waste too much money on it by bringing a big entourage and staying in a 5-star hotel for a month (sorry bro!). More here

errrr...Sorry Bujai gua bujet lu main tibai aje kut with that comment......but your concerns are valid........

Let me share with you the right way to go and tak payah naik kapal terbang pastu booking hotel pun......

This is an offence under the US Securities Law being enforced by the US SEC

The SEC’s complaint charges that Alcatel violated Section 30A of the Securities Exchange Act of 1934 by making illicit payments to foreign government officials, through its subsidiaries and agents, in order to obtain or retain business. Alcatel violated Section 13(b)(2)(B) of the Exchange Act by failing to have adequate internal controls to detect and prevent the payments. Alcatel violated Section 13(b)(2)(A) of the Exchange Act by improperly recording the payments in its books and records. Alcatel violated Section 13(b)(5) of the Exchange Act when its subsidiaries knowingly failed to implement a system of internal controls and knowingly falsified their books and records to camouflage bribes as consulting payments. Without admitting or denying the SEC’s allegations, Alcatel has consented to a court order permanently enjoining it from future violations of these statutory provisions; ordering the company to pay $45.372 million in disgorgement of wrongfully obtained profits, and ordering it to comply with certain undertakings, including an independent monitor for a three year term. More here
Between regulators in the Capital Market who are members of the International Association of Securities Regulators (IOSCO) there is this thing called the IOSCO Multilateral Memorandum of Understanding Concerning Consultation and Cooperation and the Exchange Of Information (go here for the agreement)

That Multilateral Agreement provides for the Exchange of Information among the various regulators who are signatory to the agreement.....and in this case both the Malaysian Securities Commission and the US SEC are signatories to its Appendix A go here for full list of countries

So under its standard agreement a request for information can be made in writing and be faxed to the US SEC.......kalau nak murah lagi kasi scan itu letter with Zarinah's signature and mail it to her counterpart...

So this original news highlighted by Bujai is really tak masuk akal to the power of 12

PETALING JAYA (Jan 3, 2011): The Malaysian Anti-Corruption Commission (MACC) will dispatch a team to France to obtain more information on allegations made by the US that Paris-based telco firm Alcatel- Lucent SA paid bribes to Malaysian officials to obtain confidential information relating to a public tender that Alcatel ultimately won.

A senior MACC investigator told theSun that there appears a strong basis for an in-depth probe following leads obtained by the commission from an undisclosed source, and it is important to establish the facts of the case before commencing a full-fledged investigation.

"It is not going to be an easy job but we hope our trip to France will help shed more light into what transpired and how the alleged corruption involving Malaysians took place," the official said.

The official also said the allegations were serious and cannot be taken lightly, especially in view of the country’s reputation at stake in the international circles.

MACC director of investigations Mustafar Ali, when contacted today declined to elaborate on the details but assured the public a thorough investigation will be carried out.

"I cannot disclose further details but as usual (in any case), we will leave no stone unturned in our investigations," said Mustafar. More here

What a fucking joke....

They want to get more information about an ALLEGATION MADE BY THE US

LEADS FROM AN UNDISCLOSED SOURCE = STRONG BASIS? (In comparison to the case file of a Foreign Regulator who have successfully won the case?????)






"WE WILL LEAVE NO STONE UNTURNED"........Ye la tu........dapat jalan pergi Paris...laju aje!!!!

In case you are wondering........if I'm bullshitting you on this......

Check out Honduras approach....

Honduras said Wednesday it will reopen investigations into alleged bribes paid by Paris-based telecom giant Alcatel, after the company agreed to pay more than $137 million to settle charges brought against it by the U.S. government.

The SEC's complaint said Alcatel's bribes went to government officials in Costa Rica, Honduras, Malaysia and Taiwan.

Honduran anti-corruption prosecutor Henry Salgado said Honduras will ask the U.S. Securities and Exchange Commission to supply the information on which the settlement was based, to identify those involved.

In Honduras, the SEC documents refer to an unnamed "brother of a high-ranking executive branch official" during the 2001-2006 administration of former president Ricardo Maduro.

The brother asked Alcatel to hire a perfume distribution company with which he had links to act as a consultant on telecom contracts. The SEC says "the Honduran consultant was a conduit to pay bribes."

Romeo Vasquez, the head of Hondutel, the state-owned company that awarded the contracts, said Alcatel's actions had been investigated previously but "nothing came of it."

Vasquez said Hondutel no longer has dealings with Alcatel-Lucent SA. Go here
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