A Returner's Successful Investment Method - Chapter 656

Episode 656. malay scandal (17)

The 1IDB incident, triggered by a report by Continue Capital, brought a great shock to many people.

Maybe it’s a high-ranking politician or a conglomerate… … It is unprecedented for a single individual to embezzle $7 billion in assets from a state-run investment company.

The reason this was possible was because of Richman Sachs’ connivance and cooperation.

Twelve current and former Richman Sachs executives were entertained and lobbied on several occasions at Ming Liu’s yacht and mansion.

It was revealed that they paid tens of millions of dollars in bribes to Malaysian government officials and received large amounts of kickbacks.

Former Deputy Governor Ricky Cho, who worked at the Singapore branch, arranged this, and in return, he pocketed $15 million from Ming Liu.

Richman Sachs received a fee of $650 million in exchange for issuing $7 billion in bonds.

But now I have to pay more than ten times that amount in fines!

Chairman Lloyd Dimon received the report.

“If found guilty, you may lose your license or have your business activities suspended.”

“Even if the subsidiary is responsible, the parent company must avoid punishment.”

“We need to conclude with a possible agreement.”

This was not a situation that could be ignored.

Governments and investigative agencies in each country took strong action, and as shareholder anger soared, something had to be done.

The Richman Sachs board of directors unanimously decided to recover $200 million in salaries and bonuses paid to current and former executives.

Those who were targeted strongly opposed this decision and said they were willing to file a lawsuit.

Chairman Lloyd Dimon was furious.

“These guys… … .”

It is Continue Capital that brought this easily manageable situation to this point.

In the process of collecting information, he was able to find out that Han Mi-ru was leading this matter. Miru Han went to Georgia, met with candidate Mark Phillips, and handed over the data to a WST reporter.

If you look at his actions, it is astounding.

‘What on earth is this guy doing?’

Although it took a hit, it was not a crisis that would cause the company to go bankrupt, so the stock price only plummeted by 30 percent.

However, the image it had built up so far had to be tarnished and the title of the world’s largest investment bank had to be lost to JK Morgan.

Richman Sachs, which boasts 150 years of history and tradition, was defeated by a private equity fund that was founded less than a few years ago!

This in itself was nothing short of humiliating.

Richman Sachs released an official statement.

“The 1IDB incident is a failure of Richman Sachs’ surveillance system. We will do our best to improve this as soon as possible.”

* * *

Ming Liu’s arrest shook the Malaysian political world, and also caused an uproar in the American political world.

And there is another place that shocked me: Hollywood.

Ming Liu was a man called ‘Hollywood’s big name.’

He was strangely obsessed with fame and celebrity.

He acquired a film company, bought shares in a record label, invested in film production, enjoyed parties with stars, and flirted with actresses and models.

Rumors spread such as ‘I became friends and received a $1 million gift’ and ‘I only attended a party, but I received $100,000 for my troubles’, and celebrities also tried to become friends with him.

Among them, there were some who explicitly asked for gifts.

But when news suddenly came out one day that he had been arrested, those who knew him were shocked.

“what? Was this bastard a fraud?”

“I heard you spend a lot of money.”

“haha! “It was money that had been embezzled.”

“what the. “It’s absurd.”

Those who boasted about their friendship with him on Leanstagram and other platforms deleted the related posts and pretended not to know.

Marina Kiss.

A Victoria Lake model, she was Ming Liu’s lover.

The two met by chance at a party.

She always dreamed of rising to a higher position. And Ming Liu was the man who could do that.

When she seduced him first, Ming Liu fell in love with her and gave her all kinds of gifts.

Thanks to this, I was able to live in the house I wanted and drive the car I wanted.

But after about a year of dating, we started neglecting each other. Still, I kept in touch with him regularly, but recently I haven’t even gotten a reply, let alone contacted him first.

‘Are you hanging out with another girl?’

I knew that Ming Liu met several women at parties and was playing promiscuously.

Still, she pretended not to notice.

There is only one reason why she is dating a short and chubby Asian man.

It’s because of money.

Since I was paid well for it, I had no complaints.

‘Do you think it would be a good idea to break up soon?’

I thought so, but then I heard some surprising news.

“What, what? “Ming Liu is a fraud?”

Until recently, he had been pretending to be a successful businessman, but now he had become one of the biggest frauds and was talked about by people.

Internet media outlets and tabloids treated this matter as gossip, and she attracted public attention due to the fact that she was Ming Liu’s lover.

Even though my image was slightly damaged, I had no regrets.

Thanks to dating him, I was able to receive incredible gifts that I could never get even if I earned them in my entire life.

The best gift is a necklace, earrings, and bracelet set with a total of 16 diamonds.

Even though we broke up, these gifts remain, so it’s like doing an extra business.

however… … .

A few days later, people in black suits came to visit her.

“Mr. Ming Liu is currently charged with embezzlement of 1IDB assets. “Do you know?”

“yes. “I saw the article.”

But they asked an unexpected question.

“Apart from pleading guilty, Mr. Ming Liu agreed to the Department of Justice’s asset recovery action. Therefore, all the things he gave as gifts are also subject to refund.”

“yes?”

“I received testimony and reports that I received various gifts from Ming Liu during our relationship. “I heard that there is a jewelry set worth 10 million dollars. Is this true?”

“that. “Why are you asking that?”

“Because we have to take it.”

She was surprised by those words.

“What did you say? Why!?”

“The money used to purchase futures is 1IDB’s assets. Since the gift is a kind of stolen property, it is natural to return even the smallest details. “Would you like to bring everything from home first?”

“… … .”

This also applies to other stars who Ming Liu knew.

Ryan Kirisi returned the $350,000 Ferrari she received as a wedding gift, and Escher had to return a Basquiat painting.

As it is good gossip, internet magazines and tabloids reported in detail the list of people who received gifts from Ming Liu, as well as when and what gifts they received.

-You really showed what it means to spend money like water.

-There are people like this in the world!

-ㅅㅂ I’m jealous ㅜㅜ

-Even if I rot in prison for the rest of my life, I don’t think I will have any regrets.

-Marina Keys lost all the gifts she received from Ming Liu. My house and car were all taken away. lol

-It’s bad that you boasted about it to Rinsta like that~.

-LOL I heard Escher first gave an Andy Warhol painting as a gift and asked to exchange it for a Basquiat painting?

– People with a lot of money tried all sorts of things to get gifts.

-Leon Laclair said he returned all the gifts a long time ago.

-I felt strange and burdened by the continuous barrage of gifts.

-Hey! As expected, Leon Laclair! Completely different from the others!

-Fighting, Leon Laclair! bravo! awesome!

In the meantime, those who received gifts from Ming Liu had to return everything they received.

As if that wasn’t enough, I had to go to investigative agencies one after another and explain one by one what kind of gift I received and why.

The person who was closest to Ming Liu and received the most gifts from him was Leon Laclair.

But Leon was actually able to avoid this incident.

The reason is because all the gifts were returned before the incident occurred.

As Ming Liu did not move it to another location, the gift remained intact in a rented warehouse with high security.

Leon sighed and thought of Han Miru.

If I hadn’t met him, I would have been investigated and talked about like everyone else.

‘I’m so glad I met Han Miru.’

* * *

[(WST Exclusive) The first regime change in 60 years brought about by the Malay scandal!]

(strategy)

Ming Liu agreed to give up all rights to the assets.

Accordingly, the Ministry of Justice began tracking down his assets and recovering them.

The amount of assets recovered, including a mansion in Beverly Hills, a penthouse in New York, a vacation home in Florida, a jet, and a yacht, is estimated to amount to $1 billion.

(syncopation)

When this scandal became known, the anger of the Malaysian people, who had been suffering from the gap between rich and poor, corruption, inflation, and unemployment, exploded, and this was expressed in the vote in the general election.

This led to the first regime change in Malaysia in 60 years.

Immediately after the election, Malaysian prosecutors began investigating former Prime Minister Binti Laim and his relatives and associates.

According to Ming Liu’s testimony, former Prime Minister Lime Binthi reportedly received $1 billion through a borrowed-name account.

During the search and seizure process, expensive paintings, gold bars, and luxury goods were taken out of his mansion.

Regarding this, former Prime Minister Binti Lime said, ‘I couldn’t find a way to return it because it was sent arbitrarily, so I had no choice but to accept it. He explained, “There was no compensation at all.”

Currently, he is indicted on dozens of charges, including embezzlement, breach of trust, money laundering, and violating anti-corruption laws.

In addition, Ming Liu donated $30 million each under borrowed names to the Wallace campaign and Phillips campaign for the purpose of influencing the U.S. presidential election.

It is clearly illegal for foreigners to support American politicians.

The Phillips campaign thoroughly investigated these illegal donations and reported them to the National Election Commission, but the Wallace campaign did not do so.

When this incident broke out, the Wallace campaign announced that it would urgently return $30 million to the investigative authorities.

* * *

Since it was a huge event that had an impact not only on the Malaysian general election but also on the US presidential election, Korean media also paid attention and reported on it.

Lee Dong-ho had dinner with Min Ah-reum and Sung Yoon-ah and talked.

“The repercussions of the Malay scandal are enormous.”

Min Areum said.

“After listening to the story, it seems like Malaysia is in chaos due to the regime change.”

Companies are also confused.

A change of government means a change in economic policy.

In addition, as the previous government was investigated for corruption, some companies were found to have paid bribes.

Foreign companies operating in Malaysia were busy formulating new strategies.

However, Yusung Group, one of the companies that invested the most, reacted calmly as if it knew something like this would happen.

Seong Yuna said.

“Probably Mr. Miru gave the hint in advance.”

Lee Dong-ho looked like he was thinking deeply about something from earlier.

“What’s wrong?”

Lee Dong-ho opened his mouth in response to Min Areum’s question.

“There’s one thing I don’t understand.”

Seong Yuna asked.

“What is it?”

“Right before this incident happened, Miru told me to sell all of my YAG Entertainment stocks.”

Due to the hasty selling in a short period of time, the stock price fell by about 10%.

“So?”

“I wonder if that has anything to do with this incident.”

“hmm… … .”

What on earth does a Korean entertainment company have to do with this?

This question was resolved by the end of the meal.

Min Ah-reum said while looking at her cell phone.

“ah! An article about YAG Entertainment just appeared… … .”

Lee Dong-ho opened his mouth wide when he saw the article.

“No, what is this!?”