The Boston Consulting Scam

 From 2005 till maybe late 2011, quite a number of Malaysian investors fell for the Boston Asset Management (BAM) scam which had nothing to do with the actual Boston Asset Management of US. The ring leaders were Keith Wotherspoon and Bryan Gauson who claim to have had taken over BAM from previous founders of the company. We don’t have actual detail of how BAM operated in Singapore but in Malaysia, the front was through Peninsula Asia Capital and the money lending entities belonging to Ranjeet. The promised return was 11% per annum if investors invested over $500k. I was told by one VJ that in Malaysia alone he suspects BAM had “cleaned” over $43mil and involved over 200 investors. Apparently there have been numerous police reports and reports made to the SC but as usual, Ranjeet and Rashpal managed to get them covered without any actions from the government. Particularly some action started by the SC in late 2011 suddenly got derailed after a new chairman of SC got promoted in early 2012. Only Rashpal can answer the question how the mechanics of this BAM scam worked and how Ranjeet and Rashpal monitised the scam.

Here are some references i managed to find in the internet 

http://robertrossinvestigates.blogspot.com/2018/05/class-action-suit-to-victims-of-boston.html 

 

https://www.andrew-drummond.news/ponzi-alert-fend-off-kings-cup-stars/ 

 

https://www.andrew-drummond.news/a-life-on-ocean-waves-but-with-whose/ 

The Asia Golf Network Membership Scam

 Around the same time when Ranjeet was promoting the KOUP, he also asked me to join the Asia Golf Network or AGN. Basically AGN is supposed to be a golf membership that is more than just being a member of a single golf club. Some years later in 2016, I found out from the Melaka Golf Club committee member that this AGN is basically a scam to loot monies from unsuspecting golfers. Apparently AGN was offering unlimited golfing experience across many golf courses in Malaysia, Thailand and Indonesia but the truth was AGN was just another money laundering scam fronted by Ranjeet. I am not sure how Rashpal is involved here but everytime there is Ranjeet we find information about Rashpal. VJ could not confirm if Rashpal had any links with AGN but he feels it is not impossible given that these two men always work together.  

Danny Barrs

 I will write about this chap although I do not any relationship with him or his activities purely because he is one of the main cogs in the criminal machinery that is operated by Ranjeet and Rashpal. 

Danny is one of the key partners to both Rashpal and Ranjeet. As usual, Ranjeet is fronting the operations to move monies from Malaysia as well as from other countries to their various BOTs. According to Satpal’s cousin, most of the offshore related transaction and movement of monies from and into Malaysia were done using Danny’s service. 

Danny ran a money transmitting business located in the Atlanta area named “Global Transaction Services” (GTS) along with several interrelated entities that transmitted hundreds of millions of dollars’ worth of wires on behalf of customers located around the world, many of whom Barrs knew personally and were not able to obtain access to U.S. banking on their own and were sending or receiving wires from countries that posed money laundering concerns.  As I stated above, Danny marketed GTS as a company that could minimize the costs associated with transactions from entities located in one country and customers in other countries, in essence laundering for a network of criminal businessmen including Ranjeet and Rashpal. According to Sze Chan who also owns few night clubs in Kuala Lumpur, Ranjeet had introduced Danny Barrs as a mastermind of money movement where DB apparently ran the syndicate to move monies for few dozen of businessmen and politicians. I don’t know if Sze Chan had used any services of Danny Barrs but he certainly knew that Ranjeet had done many times. 

Danny was indicted in the US, UK and France. There are few more countries like Germany, Austria and Netherlands that did not pursue indictment probably due to complications in law or lack of sufficient evidence. Malaysia certainly did not pursue Danny Barrs although according to Sze Chan, Ranjeet had been using GTS for many years to take monies in and out of Malaysia. You can see the links provided below and do your own research about this. 

 

https://www.fox5atlanta.com/news/feds-say-man-failed-to-protect-against-money-laundering 

 

https://www.itv.com/news/meridian/2015-04-22/four-men-jailed-following-multi-million-pound-investigation 

                        

https://www.justice.gov/usao-ndga/pr/business-owner-indicted-failing-establish-effective-anti-money-laundering-program 

 

https://vlex.co.uk/vid/daniel-barrs-v-the-792010693

The NZOFC scam under International Credit Corporation

This information came from one Mr Sze Chan who had invested $600k through one of Ranjeet’s head honcho called Ron into what was known then as International Credit Corporation Ltd (ICC) sometime in early 2009. Just like the BOTs I explained earlier, ICC was incorporated under names of proxies and had unrelated directors with no links to Ranjeet and Rashpal although its 50/60 owned by them. Apparently Ranjeet and Rashpal had created this New Zealand Offshore Financial Corporation (NZOFC) as a means to launder monies looted from Malaysian investors. In particular ICC was the point where monies looted from KOUP were channelled to and thereafter from ICC the funds were split between the 2 of them. Additionally, they also facilitated illegal some carbon credit transactions for businessmen in Japan, Australia and few European countries. This will somehow be linked to Ranjeet’s few European listed companies like Vasseti UK Plc and Vascory Ag which facilitated flow of money through share transaction. 

There was also another international criminal mastermind behind the scam or scheme known as Danny Barrs. This Danny Barrs is an interesting character and works for a number of global criminals to launder monies through his main money remittance company called Global Transaction Services or GTS. Coincidentally, my ex-CCID friend discovered that this Mr Danny Barrs was arrested in 2015 and served jail time in the UK for money laundering crime. The information available on some of the internet forums then actually showed how the money taken from companies in the UK were channelled to accounts under Ranjeet and Rashpal but miraculously they escaped. Perhaps even the police in UK are not as clever as these cunning conmen. To be clear, I was never asked to invest into this ICC related scheme or scam. At no time Rashpal came to the front and everything was handled by Ranjeet. 

The KOUP Scam

 Sometime in 2009, one of Ranjeet’s man approached me to invest into their latest venture known as Koperasi Usahawan Putrajaya Berhad or in short KOUP. This co-operative society is being promoted like a bank where Ranjeet is saying that KOUP is “regulated” by the Suruhanjaya Koperasi Malaysia (SKM) and that KOUP is similar to Bank Rakyat. Additionally I was informed that all investment in KOUP is protected by an international insurance scheme. This investment was touted as risk free and delivers minimum return of 8.4% per annum but could even reach as high as 18% per annum should I agree to invest $2mil or more.  

      This was quoted right out of the letter accompanying the prospectus of KOUP that was given to me:  

All deposits made into KOUP Berhad  are principal protected in that there will be investment grade  sovereign and quasi-sovereign fixed income derived instruments, managed by Merrill Lynch invested by Peninsula Investment House. These investments are to be held for the benefit of KOUP Berhad to protect all deposits made to KOUP Berhad  KOUP Berhad will pay a fee for Peninsula Investment House to  place the assets in Merrill  Lynch. Upon maturity of these investments these instruments will have par value. 

 

Although I was ready to invest, some unforeseen cash flow issue cropped whereby I had to use some of my savings for my son who was in the US. Looking back, this was the best thing that happened to me and saved me additional heart ache.  

 

See the key people of KOUP below:

 

Little did I know at that time that, just a few months after the launch of KOUP, the government discovered the scam and took appropriate action by freezing KOUP's activities. I only became aware of this in 2015 through investigations carried out by my ex-CCID friend. He showed me newspaper clippings he obtained from an ex-government officer named Hajjah Aminah, who lost almost $200k in the KOUP scam. At that time, she was 62 years old, and I don't have her contact details, but I believe she had lodged complaints with both SKM and the police. However, no action was taken. She had never met or personally knew Ranjeet, but she had encountered Jespall Singh and Cikgu Rahman. Although Cikgu Rahman introduced her to Jesspal and KOUP, she later learned that Cikgu Rahman himself lost $60k in the scam. Based on the information gathered, it appears that over 200 KOUP members and investors were cheated, totaling more than $88 million. By the time SKM intervened in late 2009, there was very little money left in KOUP's account. Although I did not invest any money in KOUP, the story of victims in KOUP is similar to mine. We were duped by this conman Ranjeet and when the axe fell, the big boss Rashpal had managed to pull enough string to close the matter without any action whatsoever. This is despite the fact that SKM had deemed that KOUP was a Ponzi Scam and its accounts were frozen and offices raided. 

 

https://forum.lowyat.net/topic/1012455/all

The above is the official statement from SKM in Jan 2010 and no action was taken against Ranjeet or Rashpal not to the management executive committee of KOUP consisting of Ranjeet’s father (Ir. Sukhdev Singh Sidhu), brother (Sarjeet Singh Sidhu) and cousin Jespal Singh Dhaliwall. According to what we understand from Satpal’s cousin, all the funds were siphoned from KOUP were split between Ranjeet, Rashpal and Jesspal. 

 

Below is the Malay Mail article dated 1^st Dec 2009 from Hajjah Aminah

 

 

The Peninsula Asia Capital Scam

Perhaps within 2 years after my initial investments, Ranjeet started another scheme to replace the investors who were stuck in his first scheme, the Tri Capital Venture scheme. This time his new scheme (or scam) was called the Peninsula Asia Capital Sdn Bhd. I still remember how one of his honchos bragged that this new scheme is located just behind Peninsula Asia Hotel in Damansara Heights that “belongs” to Ranjeet through Peninsula Asia Capital Sdn Bhd. Heck even the name card logo and font were also similar and some of us were again impressed of Ranjeet’s achievement. At times Ranjeet referred to this scam as Peninsular Asia Investment House that is managed by Merrill Lynch. We really thought our investments were behind some of these so called “successes”. Some of us including me, poured even more money into Ranjeet’s scheme. Looking back, I feel so stupid now. Based on what we managed to dig out from VJ, the amount of money siphoned using this scam exceeds $62mil the largest being from one trust account belonging to a deceased businessman through a lawyer who worked with Rashpal. Obviously the process was entirely handled by Ranjeet using G&P and 3 money changers. 

The Tri Capital Venture Scam

This chapter is the beginning of how I was duped by Ranjeet. Ranjeet was the founder director of a company called Tri Capital Ventures Sdn Bhd. He did insinuate that Tri Capital Ventures has some links with a UK fund with similar name. It did not mean much to me then (perhaps it should have!) 

Ranjeet had always come to see me in chauffer driven luxurious cars (BMW 7 Series and Mercedes S-Class among others). He was so polite, well-mannered and quite charming (silly me, now I realise that these are all traits of smooth criminals). We spoke casually about the country, about Pak Lah and about how economy generally is getting better. He also mentioned to me that his wife is also a medical doctor and that he looks forward to seeing his children become doctors too. He genuinely seem to look up to what I have achieved. 

After several meetings & conversations, and frankly I didn’t even realise when exactly, Ranjeet started talking about investment opportunity that he has. He claimed he ran few successful micro credit companies namely Asoke, G&P Solutions and G&P Resources and that he makes tons of money. He wants to offer opportunity to fellow doctors who are working hard for the country and often do not get recognised. Long story short, I started investing with Ranjeet in the tune of few hundreds of thousands and it was all going so well. He would personally bank in monthly dividends into my bank account before even I remember it’s due. There was this one time, he came to my house in rain just to pass me the bank-in slip that he had banked in the dividends to my account. 

All these impressed me. But I am just a medical doctor and being impressed of a conman pretending to be a good man was my greatest regret. Without wasting another day after seeing my blind faith in his capabilities, Ranjeet asked me to introduce other doctors who may be keen to invest and I, regrettably obliged. I introduced many doctors to him and quite a number of them invested in his scheme knowing that I had done the same prior. I think collectively, we  mostly doctors from Malacca, had invested more than $20mil RM in his schemes. Ranjeet continued to visit me and other doctors in Malacca every so often and everything was going fine until it was no longer. The dividends started being delayed and he started giving excuses about troubles in Tri Capital Ventures. Somehow being a bit of a loyalist myself, I believed him with all his excuses and did not think much then until it was too late.  

Blind Offshore Trusts (BOT) and siphoning of monies from Malaysia

 These Blind Offshore Trusts or BOT are apparently not new apparatus in money laundering tactics. It has been used since many years by corrupt businessmen and politicians the world over. 

BOTs are a type of trust structure designed to provide anonymity and confidentiality to the beneficiaries while separating them from the knowledge of the trust's assets and operations. These trusts are established in offshore jurisdictions, which offer favourable tax and legal environments, and they are often used for various legitimate and illegitimate purposes, including estate planning, asset protection, and privacy but more often than not for hiding and laundering illicit income. 

Let me explain how Blind Offshore Trusts typically work. To establish a BOT, you will need a Settlor, a Trustee and the Beneficiary as well as Protector as an option. 

A Settlor is typically the person or entity creating the trust. The settlor transfers assets (such as cash, real estate, stocks, or other investments) into the trust. In this case, Ranjeet’s list of investment companies, personal estate, ownself and his list of companies are the Settlors. 

A Trustee is an independent person or entity responsible for managing the trust and its assets. They have a fiduciary duty to act in the best interests of the beneficiaries and carry out the trust's objectives according to its terms. Ranjeet mostly employs independent lawyers as trustees for his empire of BOTs. 

Beneficiaries are the individuals or groups who will ultimately benefit from the trust's assets. In the case of a Blind Offshore Trust, the beneficiaries' identities are not disclosed or known to the public or, in some cases, even to the trustee. Instead, they are kept confidential. Most of the beneficiaries of the BOTS we discuss above consists of Ranjeet’s and Rashpal’s family members and some very close friends. They have also done the same for some politicians but I don’t have the details. 

Additionally, Ranjeet also appoints a Protector, who is usually an independent party who oversees the trustee's actions and ensures the trust's objectives are met. The protector may have certain powers, such as the ability to replace the trustee or amend the trust deed under specific circumstances. From what VJ had explained, for most of the BOTs, Rashpal has been nominated as co-Protector to safeguard their interests. 

The primary feature of a Blind Offshore Trust is its confidentiality. The trustee is not required to disclose the beneficiaries' identities to anyone except in exceptional circumstances (as required by the law of the trust's jurisdiction). This ensures the beneficiaries' anonymity and shields them from public knowledge or scrutiny. 

BOTs are established in offshore jurisdictions that have strong privacy laws and are typically outside the jurisdiction of the settlor's home country. These jurisdictions often provide tax advantages and offer a higher level of confidentiality compared to onshore jurisdictions. 

It's essential to note that while BOTs have often been associated with facilitating tax evasion, money laundering, and other illegal activities due to their confidentiality and anonymity features.

The Laundering through Money Changers

 As I mentioned in the Money Lending Scam chapter, 60% of the funds raised by Ranjeet were immediately siphoned by Rashpal and Ranjeet through a syndicate of money changers controlled by Ranjeet. These funds, totalling over $1bil over a period of slightly more than a decade were channelled to a number of Blind Offshore Trusts (BOT). One lawyer patient of mine from KL, Krish, told me that it is near impossible to trace these monies once it is channelled through these BOTs.

Many of these deals over a span of more than 10 years meant both Ranjeet and Rashpal made tons of money. A large proportion of their loot was in cash and that is where Ranjeet plays a bigger role. Just as Rashpal had built strong legion of corrupt officers in the various enforcement and government departments, Ranjeet had built a network of money-changers to help him launder monies. Essentially Ranjeet is also known as the specialist to move large sum of monies under the radar. According to Satpal’s cousin who had a massive fall-out with him after a relative’s marriage, Ranjeet has interest or control over several licensed money changers operating in Kuala Lumpur.

The Money Lending Scams

 It took me quite some time to fully grasp the money lending scam that Rashpal and Ranjeet had unleased to the market. When I first invested in one of the Ranjeet’s scheme/scam (I dint know it then), Ranjeet promised payment of 2% per month. When I asked him how would he would make returns in excess of 24% p.a. to justify his business, he simply replied that money lending business do not charge anything less than 10% per month. Only very much later I discovered that licensed money lending companies are not allowed to charge borrowers anything more than 18% per annum. This led me to wonder how is Ranjeet and also Rashpal doing this so openly. Only after Satpal’s cousin met me did I understand how the scam and scheme work. 

Whenever Ranjeet raises funds through some purported scheme, which in essence are scams, the funds are spent in more or less the following manner. Rashpal does not at all get involved in fund raising exercise as he deems it embarrassing. Hence this task only handled by Ranjeet through a few fronting organisations such as Tricapital Ventures, Peninsular Asia Capital, Koperasi Usahawan Putrajaya Berhad, Asia Golf Network, Vasseti, Vascory and some other companies I cannot recall. Back to the modus operandi, about 10% of the funds raised are used as commission payment to investment agents or wealth advisers hired by Ranjeet. The remaining funds are split into 3 parts of equal 30% from total fund. 30% goes to money lending activities in Asoke, G&P companies and through some indirect channel to Knight Capital. All these are licensed money lending companies and people like Satpal, Hafiza, Ali and few others are tasked to search and bring in genuine borrowers of money. The last 2 portion of 30%each goes to Rashpal and Ranjeet, which Ranjeet arranges the money changes in his syndicate to launder to the Blind Offshore Trusts controlled by them. Clean upfront 60% of investor’s money (including my money) gets pocketed by these 2 bastards without any need to repay back. Then you would ask how investors are repaid monthly interest. Well that the scam that took me longest to understand and discover. 

As I mentioned earlier, 30% of the funds goes to actual money lending business. The interest charges are fixed at 10% per month. When a borrower comes to these licensed money lending companies owned by Ranjeet and Rashpal, they are made to sign some fictitious agreement, which will be used as genuine record for authorities to check. Assuming one person wants to borrow $120,000 for one year, then the interest element based on 10% interest per month will amount to 10% x 12 months x $120,000 capital totalling to $144,000. Include the original loan sum of $120k will total $264k to repay back to the licensed money lending companies within one year. The borrower need to pay monthly a sum of $264k ÷ 12 = $22,000 per month. 

So if the money lending agreement stated exactly as this, Ranjeet’s and Rashpal’s licensed money lending companies will end up in plenty of legal trouble with the government for charging exorbitant interest rates. So let me then explain properly as how Satpal’s cousin explained.  

We need to do a bit of reverse calculation to understand these bastard’s scams.  

 

Now assuming if one had gone to a genuine money lending company that charges maximum allowable interest of 1.5% per month or 18% per annum and that the borrower had agreed to repay $22,000 per month. How much borrowed sum would he have been able to take you may ask? The arithmetic will show that he would be able to borrow $224,000 with 18% interest per annum to justify his repayment of $22,000 per month. 

 

Now these bastards, despite lending only $100k to the borrower, will force the borrower sign a fictitious money lending agreement (purportedly saying 18% interest per month) for an enlarged amount of $224k and with repayment of $22,000 per month. This is the record kept in the books of all the licensed money lending companies they control such as Asoke, G&P Solutions, G&P Resources and also Knight Capital. 

 

Apparently Rashpal had devised this genius scheme whereby they are able to evade tax and avoid going against the law. Additionally, this will allow 60% of the total funds raised from investors using various investment schemes/scams by Ranjeet be siphoned on day one by Rashpal and Ranjeet! As an icing on the cake, these money lending entities will be able to show bloated capital usage to justify monies that had been siphoned out. Imagine their lending companies only lent $120,000 while the books will show they have lent $224k! Just like that $104k was seemingly created in the thin air. But that is not the case. Investors like me were duped to give money to Ranjeet which in turn was used to do illegal money lending business that oppressed another set of victims who had borrowed from them at exorbitant rates of 10% per month. 

 

Through this money lending scheme, both Ranjeet and Rashpal were able to cheat by evasion the government millions of ringgit in tax and investors millions of ringgit of investment funds without being detected. To make matters worse, after doing these crimes they were awarded honorary tiles of Dato Wira and Tan Sri ships and given high positions in coveted government agencies.

How criminals escape punishments

 In Malaysia, the process leading to the investigation, arrest, and punishment of criminals involves several steps. Often, reports are lodged by complainants through agencies like PDRM, MACC, SC, or LHDN. Additionally, enforcement agencies may act upon incidental information, particularly concerning tax and corruption cases. Rashpal, who appears to hold sway over all four main enforcement agencies, is certainly positioned to exert significant influence as a powerful corporate mafia. Remember as VJ said, Rashpal is interested mainly on making money through milking businessmen stuck in financial crimes and not particularly interested in helping murder or rape cases. Therefore, the top list of money generating avenues for him is by solving large money laundering cases involving big businessmen and politicians which runs into hundreds of millions of ringgit. Now if the affected party comes to Rashpal in early stages, he would wield his influence in these agencies to thwart the action on any of the reports or actions. However if the parties approached him late, meaning investigation stage is already complete pending charges to be imposed by the AGC, then he would use his influence in the AGC to delay or stop the matter. Should the matter arrive to his attention in even later stage like when the criminal had been charged, then the best of Rashpal’s influence comes to play. He would use Jessica in AGC to determine their “selected” DPP to handle the case which will lead to the case being dismissed on technical grounds. However if Jessica for some reason due to other interference is unable to get their corrupted DPP to handle the cases, Rashpal than will engage his final tool, which is deploying corrupt judges to handle the hearings. Ranjeet, through his minions, will be tasked to get the High Court registrar to select judges that are within Rashpal’s syndicate to handle the said cases. As told by VJ, Ranhpal does not directly deal with the judges but instead deals with them through intermediaries such as one ex-judge Dato Jagjit or one Punjabi lady lawyer cum banker called Molly. VJ also suspected that Molly had and on or off affair with Rashpal but could not confirm the same. Interestingly, this Molly was also sleeping with another HC judge but I cannot remember his name. Coming back to the trials, the judges will know what to do once Rashpal “appears“ in the court such that the judges will drive the hearing in favour of the defendants. As VJ said, such tactics even applied to non-criminal cases such as commercial and civil disputes but as Rashpal is only interested in big money, he seldom takes such assignments. Unfortunately I am not able to list the names of judges that are in Rashpal’s pocket but I do have an idea that could be one Judge N, who I will expose later on after getting more information.

The control of LHDN

Some of the corrupt businessmen and criminals that Rashpal was dealing with had quite a number of issues with the Inland Revenue Board (LHDN) and even with his great connections with various other enforcement agencies, he was unable to get LHDN to “solve” the problems. Now being a corporate mafia, it does not bode well if you are not able to “settle” any problems even when his clients are willing to part tens of millions of ringgit. 

Then using his usual tactic in late 2014, he lobbied to be appointed to the board of LHDN. Imagine one Punjabi money lender who had not done any good thing for the rakyat and instead who had always worked for the corrupt being appointed to the board of LHDN? Did MOF ran out of good Malay professionals to be elected to the board? Of course nothing can come close to the power Rashpal yielded. Eventually in 2015, he was appointed to the board of LHDN where he remained as a director till 2021. 

According to VJ, using his position as director of LHDN, he had abused the LHDN enforcement team to conduct investigations on various investors that were cheated by Ranjeet’s schemes ultimately forcing these victims to abort their actions against Ranjeet. Additionally, Rashpal had “solved” a number of large tax issues for a number of businessmen and avoided money laundering actions through his connection in the SC and the MACC. The amount of monies that Rashpal earned now ran into hundreds of million which his loyal dog Ranjeet quickly laundered through a chain of money changers he controlled. 

In essence, Ranjeet orchestrated the establishment of several Blind Offshore Trusts (BOT) not only for himself and Rashpal but also for various criminals. These trust structures are cleverly registered under the names of lawyers or trustees, who then provide regular payments to the designated beneficiaries, including Ranjeet, Rashpal, and their respective family members. A significant portion of these BOTs' investments are directed towards real estate ventures in Australia and the United Kingdom. 

Monies were moved from Malaysia either through seemingly legitimate business deals (which are not) or through the network of licensed money changers that Ranjet controlled. According to Ranjeet’s staff, in the last 15 years, more than RM1bil were moved only through money changers. These BOT were mainly established in offshore countries or were domiciled in Australia and New Zealand. A few of the BOT were established in Singapore and HK while 12 were established across Europe covering UK, Liechtenstein, Austria, France and Germany. The 2 BOTS established in the US ran into some issues. 

These BOTs are full proof way of how criminally obtained wealth can be and is protected for the rich and powerful such as Ranjeet and Rashpal. 

The SC connections

 Knowing that his connection in the YAB ex-PM’s office is so strong, Rashpal then planned to promote one of his countrymen to the position of SC Chairman in late 2011. By early 2012, one Ranjit Ajit Singh, who is also a distant relative to Ranjeet and Rashpal, was curiously promoted to the position of Chairman even though MOF already had a bumiputra only policy for Chairman of SC. Many in the MOF and other ministries were aghast about his appointment but what can you say against the powers that Rashpal yielded. Rashpal presented compelling arguments to Najib, who wore the dual hats of Prime Minister and Minister of Finance. He skilfully advocated for greater representation of non-Malays in leadership positions, a move designed to ensure the non-Malay vote remained a formidable force for BN. With his honeyed words and strategic rationale, Rashpal swayed the opinions of those in power, securing Ranjit Ajit Singh's promotion.  

Ranjit Ajit Singh, a seasoned figure within the SC, had built a strong rapport with the administration team during his many years of service. And so, under the urging of Rashpal, he dutifully extended preferential treatment to select Punjabi colleagues, propelling them into the coveted positions of department heads. Alas, the name of the Punjabi woman who benefited most from this arrangement eludes my memory, as shared with me by a retired MOF deputy director. 

According to VJ, with the influence Rashpal wielded in the AGC, SC and MACC as well as in PDRM, he was able to “help” many businessmen resolve cases involving insider trading, illegal investment schemes, money laundering and others worth hundreds of millions of ringgit. God only knows the “cut” that Rashpal had asked from these criminals to let them off the hook. There was one party who started negotiating with them from a company called Fountain View for some insider trading crime as well as some tax issues. Somehow after paying the initial RM1mil, neither Chin and Hiew of FV agreed to the hefty sum demanded by Rashpal, which led to Rashpal to “drop” their case which led them to be imprisoned. Technically, he made sure these people got the worst outcome of the case for not “settling” with him in a true corporate mafia way. 

Interestingly, some of the other cases Rashpal managed to get SC to push under the carpet involved deals that Ranjeet was involved such as the Koperasi Usahawan Putrajaya Berhad (KOUP), the Boston Investment Scam, the Peninsular Asia Capital illegal investment scheme as well as the Tricapital Ventures scam and Asia Golf membership scam, some of which I was also a victim of. Some of us had made separate complaints to the SC about these schemes or scams by Ranjeet (as I did not know of Rashpal’s involvement) but no action was taken. Instead Ranjeet had appeared in front of my house one day threatening me not to “stir shit” else he would get the LHDN to open file on me. That was one of the very few time I actually uttered the work f-off to him and asked him to get lost. 

The MACC connections

 Having good connections to YAB ex-PM Najib’s office afforded Rashpal a lot more power. He then managed to get the PM’s recommendation to the Malaysian Anti-Corruption Commission (MACC) to be elected as a board member. This is a very powerful position as by being a member of the Anti-Corruption Advisory Board (ACAB), he could technically influence MACC into taking some action or more importantly to him, not taking any further action to cases that he would have interest in. This became the period where Rashpal started to earn many more millions from individuals that were arrested or being investigated by the MACC. Of course I am not saying that everyone in the MACC are corrupted but quite a number of the senior investigating officers or commissioners were corruptible and were indeed working indirectly for Rashpal. According to VJ, he personally knew at least 12 cases were resolved by Rashpal for payments in many many millions each, that was subsequently transferred to overseas account by Ranjeet for Rashpal. The season is becoming too good for Rashpal and he does not want to stop. According to VJ, it was about this time that Rashpal said that he is no longer interested in million but billions is the name of the game. With the office of YAB ex-PM firmly in his pocket, he now feel that he can do anything. Through Ranjeet he had the CCD of PDRM secured in his grip, he has control over the AGC and now directly having access and control over the MACC. Nobody can think any more than this but not for Rashpal. Some of his personal clients (clients of Knight Capital) whom he came to know through his position in the MACC had issues with the Securities Commission (SC) and the deals were worth tens of millions ringgit if not hundreds of millions. He simply couldn’t resist the opportunity to plant his “man” even in the highest position in the SC so that he can “fix” larger financial problems for bigger sharks! 

The control of AGC

 During the time before YAB ex-PM Najib, there had been some instances where clients of Rashpal were unable to escape the clutches of law, not least because the police did not sufficiently help in producing poorly written investigation paper for the Attorney General’s (AG) office consideration but arising from very good and meticulous Deputy Public Prosecutors (DPP) from AG’s office. This led to Rashpal devising a plan find ways to control the AG’s office such that he can dictate which DPP handles the cases under his watch. In order to effectively control or manage the judiciary, Rashpal had recruited a Singaporean Punjabi lady, Ms Jessica Gurmeet Kaur Sidhu to be given a senior position in the AG’s chambers. Yes you read it correct, another Sidhu! Separately Rashpal already developed strong contact in YAB ex-PM Najib’s camp as he was just rising to take over the premiership from YAB ex-PM Pah Lah. Using his contact he managed to pressure the then AG TS Gani Patail to accept the appointment of Jessica as head of administration and finance at the Attorney-General's Chambers and by request of Rashpal, was made to be attached to a special task force investigating various financial cases. This would enable Rashpal to pull significant amount of power in determining which DPP is assigned to cases that are under his watch. Not many people knows the link but Rashpal had everything to do with her appointment as her in-laws were certainly not aligned to the BN government since she was the wife of Gobind Singh Deo’s brother-in-law. No way would someone with close ties to the opposition then and further a foreign national be allowed tohold such a coveted position in AG’s chambers. Just imagine how much power Rashpal had in order to make this happen. So moving on, Ranjeet will assist in making payment of bribe to whichever corruptible DPPs in the AG’s chamber such that the syndicate run by Rashpal can continue to thrive in bending the rule of law to their favour. Rashpal never wants to get his hand dirty in any of the money dealing. The corrupted DPPs will be allocated to cases that Rashpal has interests in, where these DPPs will purposely fumble in the structural handling of the cases leading to the convicts actually being set free even without trial. You can check how many of these cases had taken place since 2009 until last few years. Even after her departure from the AG’s chambers, her assistant was doing the bidding for Rashpal. To know more details you need to as his former employee VJ who also tells that Rashpal has a fetish of wanting to sleep with other people’s wife. Such disgusting and odd fetish but he plainly says, with my brothers at the lodge, this is the way. I don’t really understand what he meant by that but whatever the meaning may be, it certainly sounds evil!. 

The control of PDRM

Becoming corporate mafia necessitated Rashpal through Ranjeet establishing a certain level of control within the police force. We are all familiar with the understaffed nature of the Royal Malaysian Police (PDRM), particularly within the Commercial Crime Division (CCD). Moreover, the CCD lacks experienced and skilled personnel capable of effectively resolving cases. Even without undue influence, numerous CCD cases remain unresolved, often receiving the stamp of "No Further Action" (NFA). Seizing this opportunity, they (Rashpal and Ranjeet) cultivated relationships with high-ranking PDRM officers, primarily within the Brickfields station and at Bukit Aman. Some of these connections were forged through Punjabi ex-policemen who frequented the same Sentul Sikh temple. Ranjeet even enlisted Jesspal, the son of former policeman Manjeet, as his business partner in a number of ventures including KOUP. Beyond his role in enticing investors into Ranjeet's corporate scams, Jesspal provided access to his father's former acquaintances within the PDRM. Interestingly, Ranjeet even became a member of a chapter of Persatuan Bekas Polis, affording him even more connections within the PDRM. On the other hand, Rashpal deliberately maintained a distance from direct involvement with the police, occasionally joining social gatherings attended by former Inspector Generals of Police such as TS Khalid Abu Bakar and TS Ismail Omar. Rashpal always maintained an arms-length relationship with the police to ensure that the syndicate operated by him and Ranjeet remained inconspicuous. In fact, the duo never appeared together in public, seeking to avoid any suspicion, save for chance encounters on remote occasions. It was vital for Rashpal and Ranjeet to remain unconnected, allowing their scheme and collusion to persist unnoticed. Ranjeet had also provided high paying jobs to former high ranking police officers and even gifted luxury cars in exchange for favours. 

 

In dealings with lower-ranking police officers, Ranjeet maintained a deliberate distance. He enlisted the assistance of an individual named Dato Sri Ali Renggan (DSAR) as an intermediary. DSAR, an Indian Hindu convert, is a convicted criminal with a history of committing various minor offenses and evading consequences through bribing corrupt policemen. Ranjeet was introduced to DSAR by one of these policemen, subsequently making him a business partner. DSAR's role involved managing matters related to lower-level police officials and assisting with minor cases required by Rashpal. It is worth noting that DSAR's claimed Dato Sri title was later revealed to be fraudulent. He travels in a luxurious Mercedes Benz S-Class with fully tinted windows and an unauthorized yellow number plate. Interestingly, Ranjeet himself obtained a similar fake datukship through DSAR, allegedly from the purported Kedah palace. On one occasion, Ranjeet allegedly boasted to another doctor who was demanding payment from him, claiming to pay a monthly sum of RM100k to maintain influence over the police, warning the doctor to be cautious in his words and actions. Furthermore, Ranjeet allegedly utilized constables from the Brickfields police station to extract payments from borrowers associated with Asoke and G&P companies, resorting to literal extortion tactics. Several borrowers experienced the severe consequences of non-compliance with loan repayments to Ranjeet. 

Moreover, Ranjeet consistently managed to obstruct any action resulting from police reports filed against him, largely due to his influence over the police team stationed in Brickfields. Consequently, it is advised against making any police reports against Ranjeet, as they are likely to be labeled "No Further Action" (NFA), potentially leading to unnecessary harassment from the police. One individual, Subramaniam, who had a business dispute with Ranjeet even faced threats of false report charges when attempting to take action against Ranjeet through police reports.  

From plain corporate ah-longs to corporate mafias

 For an extensive period of nearly ten years, Rashpal and Ranjeet operated as corporate money lenders, providing loans to businessmen who found themselves in financial distress. Many of these businessmen had encountered legal issues involving various authorities such as the police, anti-corruption agencies, and even the securities commission. Rashpal and Ranjeet profited significantly from this enterprise, charging no less than 5% interest per month on the funds lent to these other corporate criminals. It came to my attention that some of these businessmen even relinquished half of their monies in question to Rashpal and (or) Ranjeet in order to evade authorities' attempts to seize their illicit gains. While I do not possess full knowledge of their modus operandi, I have been informed that these businessmen would engage in fictitious sale and purchase agreements with entities like Knight Capital or certain G&P companies. By backdating the sale agreements to periods preceding their legal issues, the transactions and transfers would proceed unhindered. Additionally, Rashpal's connections within various government authorities ensured a high success rate in executing these schemes. Over time, Rashpal seemingly realized that greater financial gains could be achieved by transitioning into a role akin to a corporate mafia rather than remaining solely as a corporate money lender. In his capacity as a corporate mafia, Rashpal's fees would commence at RM1 million in cash, merely to agree to engage in any illicit arrangement. The nature of these deals, you may inquire? They primarily involve evading criminal charges, although Rashpal does refrain from handling murder and rape cases. He focuses more on assisting corporate figures who, either intentionally or inadvertently, find themselves on the wrong side of the law. Numerous cases involve charges of money laundering, cheating between investors or shareholders, and contentious land disputes, with payments being strictly made in cash. As a corporate mafia, Rashpal purportedly possesses the ability to resolve almost any legal issue through his contacts within the Royal Malaysian Police (PDRM) and the Attorney General's Chambers (AGC). Additionally, through a retired High Court judge named Dato Jagjit, Rashpal is often capable of arranging for judges to deliver rulings in favor of his clients. However, it should be noted that this influence over judges does not apply universally. According to Rashpal's former employee VJ, the likelihood of controlling outcomes is approximately 50% with Magistrate judges, while the chances decrease to less than 25% with High Court judges. This discrepancy may arise from the fact that High Court judges are more ambitious in their careers and not all are willing to jeopardize their positions for illicit monetary gain. Nevertheless, it is astonishing to observe how Rashpal managed to effectively manipulate one seemingly untarnished judge to fulfill his bidding across multiple cases. Before delving into the specifics shared by Rashpal's former staff regarding his influence within the judiciary, allow me to elucidate further on how Rashpal has established control over PDRM and AGC. 

The curious immigration working bribery for wife’s citizenship

 Ranjeet possesses such formidable influence that the Ministry of Internal Affairs went so far as to deviate from their standard regulations in order to grant Malaysian citizenship to his wife, Dr. Gurmeet, a mere four years after their marriage. At the time of their union, Dr. Gurmeet held Indian citizenship, but thanks to Ranjeet's illegal endeavours, he successfully procured full citizenship for his wife, rather than residency. It was Hj Azlan, the individual tasked by his superior in KDN with facilitating the issuance of Gurmeet's citizenship, whom I conversed with. He expressed profound dismay at how easily Malaysian citizenship is made accessible to swindlers and criminals, while many deserving individuals who have made significant contributions to the nation, or who are married to or children of Malaysians, struggle to obtain even a red-IC (identity card). In the words of Hj Azlan, "This is not a state for Malays but a state for thieves, deceivers, and criminals." I encountered Hj Azlan approximately five years ago, and he retired immediately following YAB ex-PM Pak Lah's departure. Although he lacks specific details, he has heard rumours that Rashpal orchestrated Ranjeet's payment of approximately RM500k through their network of corrupt officials. 

The bought datukships

 The allure of datukships and tan sri-ships has long captivated individuals such as Ranjeet and Rashpal, who are conmen and criminals, seeking to acquire prestige, honor, and societal recognition despite their unworthiness, insignificance, and low standing in society. The once sacred traditions of granting these titles have been tarnished by the ability of both wealthy elites and criminals to purchase these honors. This troubling practice of selling honorary titles exposes the negative consequences for social values, meritocracy, and the integrity of these once esteemed distinctions, which now merely symbolize corruption and the influence of powerful individuals. These titles are now obtainable by those with substantial financial resources, requiring no more than RM150k for datukships and slightly over RM500k for tan sri-ships. The commercialization of titles diminishes their importance, devalues their significance, and undermines the recognition of genuine merit and achievement. It is disheartening to discover that even a known conman like Ranjeet was able to effortlessly acquire his datuk wiraship for a mere 150k, along with a commission of RM50k for the intermediary involved. Rashpal had done the same for his datukship and got a businessman to pay RM500k for his tan sri-ship so that he can be on the list of national level conmen. Having experienced harm at the hands of these conmen and conducting thorough investigations into their activities, I have acquired significant knowledge regarding these titles. Consequently, I have reached a point where I will refrain from placing trust in individuals who bear such distinctions. It is truly disheartening that these conmen proudly wear these titles, while honest citizens view them with shame and disdain. 

The knowing that government is corrupt

 Corruption remains a persistent issue that plagues our society, undermining trust, perpetuating inequality, and impeding progress. When corruption infiltrates government institutions entrusted with upholding justice and the rule of law, the consequences are particularly grave. Let me shed some light of what is happening in our country where corruption pervades the government, police department, anti-corruption agency, inland revenue board, and even the judiciary. 

Our government be it the BN or PH, are tainted by corruption and they have deviated from their  fundamental responsibility of serving the people. Elected officials and high-ranking bureaucrats prioritize personal gain over public welfare. Bribery, embezzlement, and illicit deals have become commonplace, with public funds diverted to line the pockets of a privileged few. Transparency and accountability are mere rhetoric, overshadowed by a culture of impunity. 

The police department, our once highly regarded PDRM, who was tasked with upholding the law and ensuring public safety, has succumbed to the allure of corruption and nepotism. Officers and high-ranking officials are entangled in a web of bribery, allowing criminals to operate with impunity. Investigations are selectively pursued or obstructed, and justice becomes a commodity available to the highest bidder. Consequently, the police force transforms into an instrument of oppression rather than a protector of the people. 

The MACC which supposed to be the very body that prevents corruption itself has fallen prey to corruption, despite its mandate to combat such practices within the government and society. It has become a marionette controlled by the corrupt government, selectively targeting low-level corruption cases while turning a blind eye to high-ranking officials and powerful businessmen like Rashpal and Ranjeet. I have now heard that so many whistleblowers are silenced, evidence conveniently misplaced, and investigations intentionally mishandled. Consequently, the agency serves as a smokescreen, deceiving the public into believing that meaningful action is being taken against corruption. In actual fact the MACC is just a tool for the rich and powerful. 

The inland revenue board or IRB or LHDN, responsible for ensuring tax compliance and fairness, is also tainted by corruption. Tax evasion by influential individuals and corporations is systematically overlooked. Corrupt board officials accept bribes and turn a blind eye to illicit financial activities, depriving the nation of essential revenue. Meanwhile, honest taxpayers bear the burden, while the wealthy elite exploit the system for personal gain, exacerbating societal inequities. The likes of Ranjeet through Rashpal, uses the body to oppress victims of fraud investment schemes and they openly loot millions of ringgit without any consequence. 

A fair and impartial judiciary is the cornerstone of a just society, ensuring equal application of the law and serving justice. However, even our judiciary has succumbed to corruption. Judges, influenced by powerful interests and money, dispense verdicts that align with their own agendas rather than upholding the principles of justice. The scales of justice become imbalanced, with the marginalized and vulnerable bearing the brunt of the consequences. Trust in the judiciary erodes, undermining the essence of a fair legal system. Even the once powerful like ex-PM Najib had fallen victim to the corrupt judiciary albeit I would say not all judges are for sale. Some are just “doing favours” for the ruling ministers while few are just doing it for money. 

The believe that money buys everything

Interestingly, both these men had a common belief. That money can buy anything and sadly, I now believe that they are not wrong. Yes money can buy anything in this world but not your sleep. I do wonder how these people can go on living without any guilt or remorse that they had cheated so many people of so much money. 

The desire to become rich at any cost without working hard

 The two men were driven by greed. They wanted to be rich at any cost, even if it meant conning innocent people out of their money. They loved luxury living. Big cars. Drivers, bodyguards. Big houses. Many servants. First class travel and holidays. Power, Women. Sex and everything that money can buy. They want it all. In their own words, they said fuck the stupid malays, fuck the Indians, fuck the ceylonese (me ad few others) and fuck the Chinese and take everything we can. This was uttered by Ranjeet himself and I personally heard on the recording provided by one of ranjeet’s honchos.  They just want to be able to spend without ever having to worry about money. Both had same desire and sadly both didn’t have a shred of moral compass. I always thought the Punjabis had more honour especially the Sikhs, many who were my patients but apparently all is just a show. Money seems to be their lord. Curiously, many of my Punjabi patients were also casual money lenders. I should have seen this coming but I was too trusting then. 

So they devised a plan to set up a legitimate money lending business promising high returns to investors. While they will do some real money lending business, deep down they knew this business has all the risk and while there could be some return, it will come with the cost of reputation. They were not interested in becoming the so called “ah-longs”. They were not in the business of crude gangsterism but were somewhat in the more stylish “corporate ah-longs” and in the business of fixing corporate needs where law manipulation is concerned or in another terms, they act as “corporate fixers” for any issues between corporate figures and the enforcement or judiciary.  

So Rashpal fronted only as “corporate ah-long” and Ranjeet fronted the more common individual lending business or normal “ah-long”. Raspal is also known as “Mr Fix-It” among the few Chinese businessmen who had troubles with the PDRM, MACC, IRB and even SC. One businessman (Mr Soo) even managed to get PR for his “girlfriend” even though she did not qualify and had only been in Malaysia less than 2 years.  

Now in order to seemingly run this business and to show legitimacy, both Rashpal and Ranjeet quite easily obtained money lending licenses from the government. Rashpal renamed his old company from Devinder Resources to started Knight Capital SB while Ranjeet used his father’s company known as Asoke SB and later the business was supported by 2 other new entities called G&P Solutions SB and G&P Resources SB. 

The idea is to do some money lending business and “cook the book” for the show. The actual income will come from robbing investors using various direct and indirect schemes. They were careful to target people who were not well-versed in financial matters, and they used their connections to the police and regulators to intimidate anyone who tried to expose them. They offered attractive returns of between 1.5% to 2.0% per month to whoever invested into their scheme. The investment was to be used as seed capital for their money lending business. 

The money lending business was just a front. It was not doing well at all. They were hardly lending to a hundred people. Mostly this was done as a cover. 

The scheme of looting investors worked perfectly at first. The men quickly attracted a large number of investors, and they were able to pocket millions of dollars. Then greed set in. They started to spend more money than they were making, and eventually their appetite for stealing easy money became bigger and bigger. 

The plan was to get money from investors and pay interest for not more than one year. For those who are well connected and influential, they keep the spin for longer time so that more investors can be conned. 

Like all Ponzi scheme, and especially for late comers and investors, they will be hit the hardest. When the investors started to demand their money back, Ranjeet threatened to report them to the tax authorities. This scared most of the investors off, and they were never able to recover their losses. Rashpal on the other hand, was already well connected with the IRB people and is able to pull strings as and when he wishes to. Rashpal even managed to organise one IRB officer to open file on one of the investors ( a doctor from Jasin) who ended up being fined for error in income declaration. This was good enough to scare the other doctors, investors including me. I had lost all hope and only managed to get back slightly less than half of all monies I handed to Ranjeet.  

From the desk of Dr.Siva MBBS - preface

 Introduction 

 

I was a practising doctor in Malacca for many decades. I had my own clinic and was living a rather simple life. God has always been kind and my family and I lived comfortably and indeed happily. It was sometime in 2006 when I was introduced to a conman (of course I didn’t know he was one then) and I must say he was very convincing, soft-spoken and well mannered. He introduced himself to me as an ex-banker and somewhat a corporate advisor of sorts. I did not know then what he wanted from me as I was just a simple medical doctor living a rather ordinary uneventful but comfortable life. Little I knew that I was about to be sucked into a web of deceit and painful journey that robbed me of millions and caused strained relationship among fellow members of my fraternity. I am an old man now and I do not know how many more months or years I have left to live. I frankly don’t care what happens to me but I am determined to get this truth off my chest before the judgement day. 

 

Since 2012, I hired a private detective who a former CCID officer who retired in Melaka some years before that. He was my patient and we became friends. My arrangement with him is that he does not have to do this full time but endeavour to find any information about Ranjeet when situation permits. He would claim expenses and fees every now from me especially when he finds a lead or discovers some information. He was in midst of writing all his findings in the format of a police investigation paper when he fell ill due to Covid. He called me from his daughters home in KL in Jan 2021. He sadly died and I only found out about it much later. 

 

Based on the information I have gathered mostly through the PI and direct contact with some other investors over the years, I will reveal the truth of 2 punjabi men who have managed to amass so much wealth by cheating, conning and manipulating investors, mostly ignorant and gullible professionals like me. 

 

The chap I first mentioned above, is Ranjeet Singh Sidhu. He is the main man or the front of the syndicate. Although initially I believed that he is the main principal behind the business propositions he forwarded, I later discovered that he is actually the number two in rank. 

 

The real mastermind behind this syndicate is one more Punjabi Rashpal Singh Randhay. I personally do not know this chap but whatever information that I managed to find out, all led back to Rashpal. The looted monies is ultimately split between them. 

 

Rashpal is the mastermind. He likens himself a mafia boss. He does not do anything that can tarnish his name or reputation because it is important in the big scheme of things. He likes to sleep with pretty Punjabi married women especially wife of some of his own friends. He somehow feels powerful doing this and his preference is as I said, pretty Punjabi women. Maybe it personifies his corporate mafia alter ego. 

 

Ranjeet on the other hand, is his most trusted general. In their plan based on how I was informed, if anything were to happen or go wrong, Ranjeet will take the hit and Rashpal is able to cut ties and walk away. 

 

As said, Ranjeet’s role is to be the front man. Rashpal would be the person who will take care all their backyard i.e. the enforcement, the police, the AGC, the judiciary, the tax office, the MACC, the SC, the ministers or any other institution or people in power that needed to be taken care off.