NOTE OF A MEETING HELD ON THURSDAY 22 JULY 1993 AT 10.00.AM AT THE MINISTRY OF JUSTICE IN PARIS
Present: Minister of Justice M. Gueremynck
(Deputy Director of Cabinet of The Minister of Justice)
Solicitor General
H.M.Ambassasdor to France
Mr John Wood CB
(Director of Public Prosecutions for Hong Kong)
S. J. Wooler (LSLO)
Mrs Amanda Goldsworthy (Interpreter)
The Solicitor General thanked the Minister of Justice for the
opportunity to speak directly with him about the Saniman case which the UK regards as very important both intrinsically and also because of the ramifications beyond its own facts.
The intrinsic importance was best conveyed by a short statement of the case. It concerned a fraud involving US $800 million which at the time was the biggest in the world. Those involved, in addition to Mr Saniman were, Shamsudin, Osman and Tan. They had conspired to advance to Mr Tan from the Bank which Osman, Shamsudin and Saniman controlled fraudulent loans of $800 million. These had been disguised by false documentation, much of it backdated, intended to give the impression that the loans were made in the ordinary course of banking to quite separate and substantial companies. The loans were in fact made to straw companies controlled by Tan. In return, Tan had given extensive bribes to Osman, Saniman and Shamsudin. Saniman had played a crucial role of particular importance because he alone of the defendants was a professional banker; moreover, he held office both in the parent bank and its Hong Kong subsidiary through
which the loans were made.
Its intrinsic seriousness apart, the case was very important because of its implications for confidence in financial For such conduct to institutions throughout the whole of Asia.
go unpunished could undermine confidence in the integrity of the