5.
ம்
6.
7.
8.
9.
10
In 1983 a property company in Hong Kong, known as "Carrian" and
controlled by one George Tan, went into receivership owing over US$Ibn.
One of the principle lenders was Bumiputra Malaysia Finance Ltd (BMFL)
the Hong Kong subsidiary of a Malaysian Government owned and
controlled bank (BBMB).
The Commercial Crime Bureau of HK examined the matter in 1983 and
1984 and reported that there was no evidence of criminal activity against
Mr Osman and accordingly investigations ceased.
During 1984 the Malaysian Government came under extreme political
pressure to take action regarding the US$500m owed to BMFL from
Carrian.
In 1985 the Malaysian Government, acting openly through BBMB, and
covertly via Attorney General Abu Talib, approached the HK authorities,
requesting that they consider prosecution of the directors of BMFL. UK
authorities were also approached by Talib.
Agreeement was reached in July 1985 in Singapore between Abu Talib
and the HK Attorney General Michael Thomas QC that an investigation
Sim
THE
by Independent Commission against Commission (ICAC) would proceed
on terms. That agreeement effectively restricted the Hong Kong
investigation in that various Malaysian politicians were to be excluded
from the investigations. The evidence would accordingly also be similarly
truncated.
Lorrain Osman was non executive Chairman and director of BMFL and a
founding director of the parent bank, BBMB.
11.
He did not have personal authority to make loans or to transfer currency from Malaysia.
12.
13.
Tengku Razaleigh was the Finance Minister of Malaysia and a senior
member of the Cabinet both at the time of the lending to and at the time
of the request to prosecute Lorrain Osman.
The letters exhibited 2 and 3 were in the possession of the HK authorities
at the time of the request for both investigation and when prosecution
was instigated.
2
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