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.
No comments:
Post a Comment