Richard Baker as well as Nick McKenzie
June 6, 2011 - 9:34AMTHE Reserve Bank organisation Securency hired a association owned by a close relations of Malaysia's Prime Minister as well as Home Affairs Minister - a dual group with whom a Gillard supervision is negotiating to barter asylum seekers - to help win banknote contracts.
The explanation comes amid flourishing sensitivity within a sovereign supervision about a Australian Federal Police review of Securency as well as a potential for Australia's general relations to be harmed if unfamiliar officials allegedly related to a RBA firm's bribes are named.
The Age has schooled which Securency sealed Kuala Lumpur organisation Liberal Technology as a Malaysian representative in 2009. The biggest individual shareholder in Liberal Technology is office worker Haris Onn Hussein.
Haris Onn Hussein is well continuous - his cousin is a Prime Minister of Malaysia, Najib Razak, as well as his brother is Home Affairs Minister Hishammuddin Tun Hussein, who is approaching in Canberra soon to sign a understanding underneath which Australia will send 800 asylum seekers to Malaysia as well as accept 4000 refugees in return.
Securency hired Haris Onn Hussein in a hope he would suggest it access to, as well as change over, Malaysia's tip politicians.
It is a usual in tools of Asia for a kin of politicians to be hired by unfamiliar companies as agents.
The Age understands which a little officials in a Department of Foreign Affairs as well as Trade as well as alternative agencies are penetrating for a AFP not to brand sure unfamiliar dignitaries or their kin who are purported to be related to Securency in order to protect Australia's broader overseas interests.
Securency, half-owned as well as supervised by a Reserve Bank, has for dual years been investigated by a AFP as well as a British Serious Fraud Office for allegedly bribing public officials in Vietnam, Indonesia, Malaysia as ! well as Nigeria to win banknote supply contracts.
Under Australian law, it is a criminal offence! for a c ompany or individual to pay, or suggest a benefit to, a unfamiliar supervision central or their close kin to obtain a commercial operation advantage.
Australia is nonetheless to take to court a unfamiliar temptation case, but Securency - which has 4 RBA-appointed directors upon a board - might be a first, given a two-year AFP review as well as a detain as well as doubt of a little employees as well as agents final year. No charges have nonetheless been laid.
Haris Onn Hussein as well as Hishammuddin Tun Hussein are domestic royalty in Malaysia. Their father, a late Tun Hussein Onn, was Malaysia's budding apportion between 1976 as well as 1981. He was succeeded as budding apportion by Mahathir Mohamad. Their grandfather, Dato Onn Jaafar, was a owner of Malaysia's ruling United Malays National Organisation domestic party.
Hishammuddin Tun Hussein is clamp president of UMNO.
Haris Onn Hussein owns shares in or sits upon a board of multiform companies which have benefited from Malaysian supervision concessions.
In 2006, a Malaysian monetary ministry told cigarette as well as alcohol manufacturers which they would need to buy security labels provided by Haris Onn Husseins Liberal Technology to legally sell their products. Haris Onn Hussein is additionally compared with a association given a 34-year concession to work a vital Malaysian toll road.
Under Securencys corporate structure, a board should have been sensitive as well as approved of Mr Haris Onns association being sealed as an agent.
The Age can additionally reveal Securency engaged Malaysian state MP as well as a former UMNO bend treasurer, Dato Abdullah Hasnan Kamaruddin, as an additional agent. Mr Kamaruddin was a UNMO celebration treasurer in Dr MahatHirs home state of Kedah, a position which gave him estimable influence.
Despite engaging a intensely well-connec! ted Libe ral Technology as representative in 2009, Securency is believed not to have won any serve banknote supply contracts.
The association won a final vital Malaysian stipulate in 2004. At which time, Mr Razak was ! a coun trys counterclaim apportion as well as Hishammuddin Tun Hussein a education minister. It additionally won a smaller stipulate in 1998.
The Age is not suggesting Mr Razak nor Hishammuddin Tun Hussein were concerned in Securencys deals.
The companys 1998 as well as 2004 contracts concerned an additional Malaysian agent, businessman, arms broker as well as former UMNO official, Abdul Kayum Syed Ahmad.
He has given been arrested as well as questioned by Malaysias Anti-Corruption Commission over a Securency deals as well as his make use of of commissions paid by a RBA firms.
The AFP began investigating Securency in May 2009 after The Age revealed a remuneration of tens-of-millions-of-dollars in commissions to politically continuous middlemen to win contracts in Nigeria, Vietnam as well as India.
The association wired millions of dollars in to taxation haven bank accounts in an effort to disguise a beneficiaries of a payments in an apparent breach of a RBAs rules.
The AFP as well as Britain's Serious Fraud Office have conducted multiform raids upon a offices of Securency as well as a British half-owner, Innovia Films. Properties owned by serving as well as former executives as well as agents have been raided as well as multiform arrests made. No charges have been laid yet.
Securencys managing director, Myles Curtis, as well as chief monetary officer, John Ellery, were forced out of a association in Mar final year. Securencys emissary chairman, English office worker Bill Lowther, quiescent in Oct following his detain by a Serious Fraud Office.
RBA governor Glenn Stevens has shielded his banks appointees who have chaired as well as sat upon a Securency board given 1996, telling a sovereign parliamentary commit! tee in N ov which he had not seen any justification to suggest they had acted inappropriately.
The RBA skeleton to sell Securency.
This story was found at:http://www.theage.com.au/national/securency-money-trail-nud! ges-mala ysias-political-royalty-20110605-1fngq.html
Securency money trail nudges Malaysia's political royalty
Courtesy of Bonology.com Politically Incorrect Buzz & Buzz
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