'MAY 14 '92 19:26 CLIFFORD CHANCE HK 852 8104708
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Saniman also had the ultimate responsibility as head of the International Banking Division for monitoring and reviewing the period reports received from BBMB's branches of subsidiaries. The reports would ordinarily be expected to show the total amounts of lending and borrowings of BMFL with a break down of the entities to which such funds were lent. In particular such reports should if properly prepared reveal the extent of BMFL's money market lending in the nature and identity of the borrower. Saniman was in charge of reviewing all statements received from BBMB's branches and subsidiaries preparing consolidated reports to the Management Committee of BBMB. Saniman was responsible for submitting the reports and explaining and commenting upon them to the BBMB Management Committee.
GEORGE TAN
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George Tan was a resident in Hong Kong and controlled a number of Hong Kong companies. The public company within the Group was Carrian Investment Limited ("CTL") a subsidiary of Carrian Holdings Limited ("CHL") both of which were controlled by George Tan. George Tan owned and controlled over a dozen additional companies. The various companies can be described as the Carrian Group.
FRAUDULENT ADVANCES BY BMFL TO THE CARRIAN GROUP
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During the period from 1979 until 1983 Saniman is accused, along with co- directors of BMFL Lorrain Esme Osman (LEO), Dato Mohammed Hashim Shamsudin (DHS) of making fraudulent advances of approximately US$800,000,000 pursuant to a dishonest agreement by all three with George Tan in 1979, prior to the advances.
The advances to the Carrian group were made in violation of all accepted banking practices and policies at BMFL and BBMB. In so advancing the money the directors completely disregarded possibility of repayment or recovery by BMFL and accordingly had no concern for the protection and the