We exclusively reveal today the link between Rangers and a man accused of bringing down an Indonesian Bank which sent shockwaves through the Far Eastern country and also pointed a finger of corruption at high-ranking politicians and police officers. The ultimate cost of the Capital Bank collapse has been estimated at $US700 million.
OK get your seat belt on, sit back with a can of Irn Bru for the hangover and I will transport youse to the mysterious world of the Orient whose banking and financial dealings makes Libor Rigging look like a kindergarten game. I’m doing product placement with the Irn Bru to help the SFL3 sponsor out btw 🙂
The ‘Great Game’ rivals blockbuster movies for exciting action as does the twists and turns of the Monte Carlo Rally where Bears can be spotted twitching at the sight of the Lesser-Breasted Whyte Crow – a highly exotic and wily bird which occasionally pays a flying visit to Scotland where it nests in castles. In the meantime, the veils of the Orient need lifting.
After being forced to flee Indonesia, Rafat Ali Rizvi who could face the death penalty, headed for the safe haven of Singapore which has no extradition treaty with Indonesia. He was soon ensconced as chairman of Tembusu Investments Limited – a Bermudan registered company based in Singapore which operates mainly in Singapore and Mongolia.
According to Indonesia’s Attorney General’s Office, Mr Rizvi and his colleague Mr Warraq stashed $1.4bn of distressed debt securities that the bank was holding for liquidity in accounts around the world. Mr Rizvi claims he is the victim of “a xenophobic campaign to put the blame for the collapse onto the bank’s foreign owners”. Continue reading