#MARA in Australia: Dudley House and other property deals. #Maragate

30 March 2016

2 former MARA Inc officers and company director freed on MACC bail after being remanded to help probe into property sale in Melbourne

PUTRAJAYA: Two former Mara Incorporated Sdn Bhd (Mara Inc) senior officials and a company director remanded for investigation on the purchase of property in Melbourne, Australia have been released on bail.

The trio were released on Malaysian Anti-Corruption Commission (MACC) bail of RM10,000 in one surety each by the Magistrate’s Court today.

The orders were issued by Magistrate Nik Isfahanie Tasnim Wan Ab Rahman.

The former chairman and former chief executive officer of Mara Inc, as well as a director of a trading company, were detained on March 23 and remanded for seven days until March 30.

Read More : http://www.nst.com.my/news/2016/03/136125/trio-mara-inc-aussie-property-purchase-probe-released-bail

24 March 2016

Ex-Mara Inc officers, director remanded over Melbourne property buy

 https://www.malaysiakini.com/news/335120

18 February 2016

Police report lodged over Mara’s Aussie property buys

A whistleblower group and a former student activist lodged a police report today over Majlis Amanah Rakyat’s (Mara) purchase of properties in Australia.

National Oversight and Whistleblowers (NOW) director Akmal Nasir said he and PKR Youth student bureau chief Fahmi Zainol lodged the report at the Dang Wangi district police headquarters in Kuala Lumpur this afternoon.

Akmal said the report was to get authorities to investigate the “scandal” involving the purchases, for which Mara had overpaid by RM129 million.

He said the report was lodged because Mara had “failed” to settle the scandal, even though its chairman had assured that appropriate action would be taken when the scandal was revealed about eight months ago.

“It is also to initiate investigations on individuals named by an Australian court,” he said, adding that documents filed in the Australian court as the basis of the investigation and proof of the involvement of those individuals were also given to the police.

“The documents included the Statement of Claim and several invoices, as what was revealed by (Pandan MP) Rafizi Ramli previously, an organisation chart of the company and court transcripts,” he said in a statement today.

He said the chart showed how three people and three companies that received payments of RM14 million were linked to the issue.

Akmal said they also wanted the police to probe if there were elements of criminal breach of trust, especially if Mara’s top management or politicians were involved.

“We hope this report will be a way to recover the money overpaid and returned to Mara.

– See more at: http://www.themalaysianinsider.com/malaysia/article/police-report-lodged-over-maras-aussie-property-buys?utm_source=dlvr.it&utm_medium=twitter#sthash.fEnnv3Ue.dpuf

Four property deals in Melbourne are under scrutiny.

1. Dudley International House (student flats).
2. No. 746, Swanston Street (student flats).
3. No. 51, Queen Street (office buildings).
4. No. 333, Exhibition Street (office buildings).

http://www.malaysiakini.com/news/303529

Malay Mail Online

Businessmen in Melbourne MARA controversy sued over JB deal

KUALA LUMPUR, Aug 18 ― The two businessmen linked to Majlis Amanah Rakyat Inc’s (MARA Inc) allegedly corrupt property purchase in Melbourne, Australia, have been sued by a former business partner over a separate deal in Johor Baru.

Local daily the New Straits Times reported today that Jeffrey Wong filed the lawsuit at the Shah Alam High Court against Datuk Azizi Yom Abdullah and co-director in Midwest Equity Sdn Bhd, Datuk Abd Ghani Yusof, seeking compensation over allegedly unpaid contractual dues and agreements involving a condominium project in the Johor capital that has been suspended since 2013.

The paper reported that Azizi and Ghani had allegedly defaulted on an agreement on the transfer of the plot of land on which the condominium was to be built.

Justice Datuk Akhtar Tahir reportedly set September 17 for the court’s decision without having to go through a trial, saying: “The earlier files are here and we can refer to them, so we just need to have those files to clarify those matters and we can decide”.

– See more at: http://www.themalaymailonline.com/malaysia/article/businessmen-in-melbourne-mara-controversy-sued-over-jb-deal?utm_medium=twitter&utm_source=twitterfeed#sthash.Ui2dPuqE.dpuf

The controversy came to light when Australian daily The Age reported about the overpriced purchases in June, which prompted Prime Minister Datuk Seri Najib Tun Razak to effect an investigation into the alleged corruption.

Star

Sunday August 16, 2015 MYT 7:01:59 AM

‘I was forced to shift funds’

PETALING JAYA: A former senior staff of Australian bank Westpac claimed that he was forced to illegally transfer Malaysian Govern-ment funds to a third party, according to an Australian newspaper report.

The Sydney Morning Herald reported that Michael Knight who handled the sale of the Dudley House deal in Melbourne, was confronted by a man bearing an Asian appearance outside his Brighton home on March 5, 2013.

“I know you have three children – you will do what I say,” the unnamed man had told Knight while implying he was carrying a gun.

Fearing for the safety of his family, Knight claimed he was forced to repeatedly shift funds loaned to the Malaysian Government into his personal account before handing it to the man.

The daily also reported that Knight, who managed financing for property development at the bank, was assisting “a Malaysian government agency” in obtaining financing for the Dudley House deal.

Upon discovery that they wanted to buy the property at an overvalued price of A$22.5mil (RM63mil), Knight confronted the potential borrowers, claiming they were “clearly paying too much”.

When his advice was not heeded, Knight believed the vendors were raking super profits and sharing it with Malaysian officials involved in the deal.

When his actions were discovered in September 2013, the bank sacked Knight for obtaining property by deception and reported the incident to the police.

When charged in court, Knight pleaded guilty for moving the funds into his personal account and was sentenced to perform community service.

http://www.thestar.com.my/News/Nation/2015/08/16/I-was-forced-to-shift-funds-ExWestpac-officer-claims-he-illegally-moved-Msian-money-to-third-party/

Two Mara Inc senior officers suspended pending investigations – More to come:

Aussie property scam – Inc top two suspended

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Two top officials at Majlis Amanah Rakyat’s (Mara) investment arm Mara Inc Sdn Bhd have been temporarily “relieved from their duties” pending investigations over alleged wrongdoings in Mara Inc controversial property purchases in Melbourne.

They are Mara Inc chairperson Mohammad Lan Allani and Mara Inc CEO Abdul Halim Abdul Rahim.

“The two are relieved of their duties so that the investigation can proceed without interference and the two are not accused of anything.

“This absolutely does not mean we have found any wrongdoing by them at this time.

http://www.malaysiakini.com/news/303850

333 EXHIBITION STREET

Timeline of 333 Exhibition Street property deal to Mara Inc

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Jun 30, 2015

By Koh Jun Lin

Buyer netted RM26m from property sale to Mara Inc

An unknown property buyer allegedly netted a profit of A$9 million (RM26 million) in just six months by selling a Melbourne office building to Mara Inc Sdn Bhd, Pandan MP Rafizi Ramli claims.

Going by Mara documents leaked to him last week, Rafizi said, the Mara Council approved the purchase of the property at 333, Exhibition Street for A$31 million (RM89.7 million) on Feb 21, 2013, with the acquisition being done on March 29, 2013.

However, the Australian company Quintessential Equity had, just six months earlier in October 2012, sold the same property to an unnamed buyer for A$22 million (RM63.7 million).

According to a report by the property company, it entered into a sales contract with the buyer at that time, and the contract was settled in early February 2013.

Quintessential had earlier bought the office building for A$17.5 million (RM50.6 million) in March 2011, and then renovated it before making the sale.

“This clearly proves that the purchase of 333 Exhibition Street involves the same method as Dudley House, where the price paid by Mara Inc is far higher than the market price,” Rafizi told a press conference today.

http://www.malaysiakini.com/news/303529

This building is at the centre of the allegations of money laundering and bribes. The Dudley International House apartment block, located at the suburb of Caulfield.

Three other property deals are also under scrutiniy.

z2

For the background: Australian newspaper: Malaysians involved in ‘shady’ multimillion-dollar property transactions

MARA approved Melbourne property buys despite low returns, claims

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KUALA LUMPUR, June 30 ― Majlis Amanah Rakyat (MARA) Inc purchased four Melbourne properties despite knowing full well that returns from rental yields would be below the market average, the National Oversight and Whistleblowers (NOW) director Rafizi Ramli alleged today.

Rafizi, who is also PKR secretary-general, said MARA Council’s approval for the controversial purchases shows incompetence on the part of the agency or possible corruption in the deals.

“The decision to buy these four properties were made when it was clear it wouldn’t have a clear return on investment because it was below the market rental yield.

“Meaning the rental yield at the time was 6.5 to 7 per cent and if you look at the document given by MARA which was used to get approval from MARA council, not a single of these investments were in line with the market average or let alone above it,” he told a press conference at the NOW headquarters.

Rafizi said although the average rental yield for properties at the Melbourne Central Business District are between 6.5 and 7 per cent, MARA’s properties only generate estimated returns of 5 to 6 per cent.

– See more at: http://www.themalaymailonline.com/malaysia/article/mara-approved-melbourne-property-buys-despite-low-returns-rafizi-claims?utm_medium=twitter&utm_source=twitterfeed#sthash.c3X9NZJy.dpuf

Buyer netted RM26mil from property sale to Inc

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An unknown property buyer allegedly netted a profit of A$9 million (RM26 million) in just six months by selling a Melbourne office building to Mara Inc Sdn Bhd, Pandan MP Rafizi Ramli claims.

Going by Mara documents leaked to him last week, Rafizi said, the Mara Council approved the purchase of the property at 333, Exhibition Street for A$31 million (RM89.7 million) on Feb 21, 2013, with the acquisition being done on March 29, 2013.

However, according to a report from Australian property company Quintessential Equity, Mara Inc had entered into a sales contract for the same property at A$22 million (RM63.7 million) in October 2012, and settled the sale with the unnamed buyer in early February the following year.

“This clearly proves that the purchase of 333 Exhibition Street involves the same method as Dudley House, where the price paid by Mara Inc is far higher than the market price,” Rafizi told a press conference today.

http://www.malaysiakini.com/news/303529

Police raid Melbourne home over Malaysia property ‘kickback’ deals

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June 25, 2015 – 11:44AM Nick McKenzie and Richard Baker Australian Federal Police officers have launched raids in Melbourne as part of an international bribery and money-laundering investigation involving high-ranking Malaysian officials, businessmen and the purchase of Melbourne property.

Federal agents seized computers and files on Thursday morning from a home in Vermont South and it’s believed several other properties were targeted across Melbourne.

The AFP’s Operation Carambola was launched in response to an investigation by Fairfax Media into a scheme involving Malaysians using multimillion-dollar Australian properties to launder funds and return “kickbacks” to Asia.

While corruption links to property purchases in Australia by foreign nationals have generated significant political interest from Treasurer Joe Hockey and senior cabinet members, this is the first time that police have launched a full-blown operation.

http://www.theage.com.au/national/afp-launches-raids-in-melbourne-over-malaysia-property-kickback-deals-20150625-ghx30y

Polis buat serbuan kes skandal , lapor

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MARA officer cheated 65 million. Corruption is getting worse. Nama jer Islam. Special place in hell for corrupt ppl

Tahukah anda 65 juta harga hartanah yg dibeli pegawai MARA di Australia. Kau baru curi 2rm terus kena penjara.

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This entry was posted in corruption, Dudley House, malaysia, MARA in Australia and tagged , , , , , . Bookmark the permalink.

1 Response to #MARA in Australia: Dudley House and other property deals. #Maragate

  1. Pingback: Australian newspaper: Malaysians involved in ‘shady’ multimillion-dollar property transactions | weehingthong

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