Banner Advertise

Monday, January 3, 2011

[chottala.com] Koko Kahini: Singapore man fined for holding money of Khaleda Zia''s son



 Koko Kahini:

Singapore man fined for holding money of Khaleda Zia''s son

Jan 3, 2011

Fined for not reporting $3 million in transfers

By Khushwant Singh

The managing director of a company providing corporate secretarial services, failed to inform authorities regarding a transfer and hold some $3,171,000 in his personal bank account. -- ST FILE PHOTO

THE managing director of a company providing corporate secretarial services, failed to inform authorities in 2007 that he had been instructed by Mr Arafat Rahman Koko - the son of former Bangladeshi prime minister Khaleda Zia - to transfer and hold some $3,171,000 in his personal bank account.

The court was told that with his experience, Lim Siew Cheng, 63, should have suspected the money could be the proceeds of criminal conduct and should have reported it to the Corrupt Practices Investigation Bureau or the police.

He did neither and on Monday he pleaded guilty and was fined $6,000 each for the two offences under laws to prevent money-laundering.

According to investigations, he got to know Mr Rahman, who wished to set up a company here, through a mutual acquaintance and in April 2004, Zasz Trading & Consulting was incorporated. Together with Mr Rahman, he was also an authorised signatory for Zasz bank account with United Oversea Bank (UOB).

A year later, he set up a second company for Mr Rahman, known as Fairhill Consulting, with Lim as the sole authorised signatory of its UOB account. On Feb 16, 2007, Mr Rahman called Lim to close down the two companies immediately because of political problems in Bangladesh. Lim was also instructed to transfer US$900,677 (S$1.2 million) in the Fairhill account and the S$2,013,467 in the Zasz account into his own bank account.

Madam Khaleda was prime minister from 1991 to 1996 and from 2001 to 2006. Her youngest son Rahman is now facing corruption charges in Bangladesh and is accused of laundering more than US$2.7 million through bank accounts in Singapore.

khush@sph.com.sg

 
Bangla - 
Kalerkantha:
 
 
 

Related:

Warid Deal
Koko owns Dubai house under fictitious name
He also put $2m in Hong Kong banks, steps taken to sell property to pay govt; Babar minted $7m out of the project
http://www.thedailystar.net/2007/06/10/d7061001011.htm


WB-UNODC publication cites Koko's bribery case

The Daily Star - ‎Dec 18, 2010‎
The 270-page book cited Arafat Rahman Koko's case on page 53 and page 196 while discussing the issues relating to prosecution of accounting and establishing ...

  • Arafat Rahman Koko

    Arafat Rahman Koko. preview. The younger son of former Bangladeshi Prime ...
    accuses Koko of laundering funds he had received in bribes to Singapore worth
    ...

  • News articles for case Koko

    Arafat Rahman Koko, younger son of former prime minister and BNP ...

  • son of pig Arafat Rahman Koko | Facebook

    son of pig Arafat Rahman Koko. Back to Bangladesh Lootpat Nationalized Party
    .... son Koko had ensconced a cool sum of $ 200 million in Singapore Bank is ...

  • News for Arafat Rahman Koko Singapore


    		 Fined for not reporting $3 million in transfers - 15 hours ago
    ... had been instructed by Mr Arafat Rahman Koko - the son of former Bangladeshi ... of laundering more than US$2.7 million through bank accounts in Singapore.
    Straits Times - 6 related articles »

  • ACC finds Koko's Tk 11cr stashed in S'pore bank

    Dec 19, 2008 ... Arafat Rahman Koko, youngest son of BNP Chairperson Khaleda Zia, has foreign
    currencies worth around Tk 11.43 crore deposited in a Singapore ...
  •  


    • __._,_.___


    [* Moderator�s Note - CHOTTALA is a non-profit, non-religious, non-political and non-discriminatory organization.

    * Disclaimer: Any posting to the CHOTTALA are the opinion of the author. Authors of the messages to the CHOTTALA are responsible for the accuracy of their information and the conformance of their material with applicable copyright and other laws. Many people will read your post, and it will be archived for a very long time. The act of posting to the CHOTTALA indicates the subscriber's agreement to accept the adjudications of the moderator]



    Your email settings: Individual Email|Traditional
    Change settings via the Web (Yahoo! ID required)
    Change settings via email: Switch delivery to Daily Digest | Switch to Fully Featured
    Visit Your Group | Yahoo! Groups Terms of Use | Unsubscribe

    __,_._,___