Impossible Foods and B. Gates

 

Impossible Foods model of monopoly capitalism raises another 200m

Saturday, August 15, 2020 by: News Editors
Tags: bill gates, business, capitalism, covid-19, economy, government, Impossible Foods, monopoly, politics

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(Natural News) Food company Impossible Foods is a Bill Gates portfolio startup.  For those who have not been following, Bill Gates has been killing it since COVID- literally.  His portfolio has ballooned to enormous sums.  And while the mainstream media is covering how much his billionaire friends have made – even Mother Jones failed to mention Gates name.

(Article by globalintelhub republished from ZeroHedge.com)

There are a few things that bring the Gates portfolio together; life sciences, genetic engineering, sustainability, and transhumanism.  Whether the ‘sustainability’ movement is genuine or an artificially created problem, we will leave for another article.  The fact is that events are happening in the real economy that are driving demand for Impossible Foods through the roof.  Of course, they are not the only company offering meat alternatives.  There is publicly traded Beyond Meat, and private company Just.  But Impossible Foods is different in a few ways.

First, their cap table is a who’s who in pop culture.

If you were going to launch something that was questionably ethical, the most logical and smart thing to do would be to get a bunch of celebrities on board who would sell it to their fans.  It’s a genius branding image.  Those people on the cap table eat Impossible Foods and promote it.

Also, Impossible Foods employs food scientists that are working on hundreds of food products.  But this is not a food company, it’s a save the planet company.  That’s because the biggest CO2 emissions come from cows, which feed the American population beefy burgers at your local fat food chain.  So their do good business model is to create genetically modified foods that trick the human brain by use of chemical science to think it’s a real burger, and thus change humans diet.  It’s the first time that large scale human behaviors are attempted at being changed on a biological level (food).

From Wired Magazine:

Biting into an Impossible Burger is to bite into a future in which humanity has to somehow feed an exploding population and not further imperil the planet with ever more livestock. Because livestock, and cows in particular, go through unfathomable amounts of food and water (up to 11,000 gallons a year per cow) and take up vast stretches of land. And their gastrointestinal methane emissions aren’t doing the fight against global warming any favors either (cattle gas makes up 10 percent of greenhouse gas emissions worldwide). 

These burgers are not healthy.  There are no studies done on the teratogenic effects on these chemicals.  They are trying to shift demand in global meat consumption – which will be beneficial for the planet.  Their business model was a big question mark – until COVID happened.

Since COVID demand for Impossible Foods has skyrocketed.  First, meat factories started closing because workers were catching COVID in the factories.

Then, government orders came in to start killing livestock (not only cows, also pigs, chickens, and other animals) and they are actually helping farmers doing the killing:

The government offered to help livestock producers locate contractors skilled in killing herds or flocks of animals and to provide cost-share funding for their disposal because the coronavirus pandemic has shut down packing plants and reduced consumer demand. The National Pork Board held a webinar on Sunday that discussed step by step “emergency depopulation and disposal” of hogs.

Based on traditional economic theory, what happens when supply evaporates?  Demand for remaining products goes higher.  That’s what’s happening to Impossible Foods.  In order to fulfill this demand, Impossible Foods has expanded distribution systems and will even ship product to your home or cafe direct.

Although Impossible Foods is not publicly traded, shares have been increasing in the private markets from the last round $15.5 to as high as $29, and investors still think there is a lot of room to go higher.

In fact, they just raised another $200 Million from a small group of investors:

Impossible Foods has raised $200 million more for its meat replacements. The new round values the company at a Whopper-sized $4 billion valuation, according to the data tracker PrimeUnicorn Index. The new round was led by Coatue, a technology-focused hedge fund; another New York-based hedge fund, XN, also participated in the round. Since its launch the company has raised $1.5 billion from investors, including Mirae Asset Global Investments and Temasek. The presence of these new public/private investment firms on Impossible Foods’  cap table could mean that the company is readying itself for an initial public offering, but that’s just speculation. Impossible previously raised money from investment firms including Horizon Ventures and Khosla Ventures,  as well as some of the biggest celebrities in the U.S., like: Jay Brown, Common, Kirk Cousins, Paul George, Peter Jackson, Jay-Z, Mindy Kaling, Trevor Noah, Alexis Ohanian, Kal Penn, Katy Perry, Questlove, Ruby Rose, Phil Rosenthal, Jaden Smith, Serena Williams, will.i.am and Zedd.

It seems like Impossible Foods can do the impossible, and has been built with the Monopoly model in mind.  The Monopoly approach to Capitalism doesn’t take risk as an entrepreneur does, they use predetermined outcomes to plan their business.  If there is no demand for a product, they create it.

There are rumors they are working on an IPO for next year.  There is an expression in Quantum Physics as well as the self-help industry, that describes these companies well:

There are no accidents.

The idea is that an accident is not an accident at all.  It’s also called Synchronicity: 

Synchronicity is a concept, first introduced by analytical psychologist Carl Jung, which holds that events are “meaningful coincidences” if they occur with no causal relationship yet seem to be meaningfully related.

Another word is Serendipity.

an aptitude for making desirable discoveries by accident.

good fortune; luck:What serendipity—she got the first job she applied for!

If we look deeper at how the Elite operate, their ‘luck’ is actually intelligent planning.  For example when Microsoft was a garage company, it was Bill Gates parents who helped him secure the lucrative contract with IBM, you know – the one that made Microsoft the largest software company in the world:

Bill Gates’ mom, Mary Gates, helped her son form a lucrative relationship with I.B.M., securing a contract with his fledgling company, Microsoft, according to the New York Times.

Predetermined outcomes drive Monopoly Capitalism.  Imagine, a business without risk.  It’s better than finance!  Their business and political agenda is well thought out, well funded, well researched by think tanks, corporate consultants, advisors, lawyers, and experts.  The investors and others involved, such as Temasek, are some of the largest and most powerful people in the world.  Temasek is the sovereign wealth fund of the Singapore Government, that manages about $333 Billion.  Li Ka-Shing is Asia’s richest man.  Viking Global is one of the largest hedge funds in the world (at $33 Billion).  UBS is one of the largest banks in the world.  These are all systemically important investors, who don’t like taking risks.

All of these are compelling reasons to invest in Impossible Foods, of course there are no guarantees and anything is possible.  Investing in Private Markets is for accredited investors only, and is highly risky.  Also, if there was a problem with the company, liquidity would drop to zero (like it did with WeWork).  Those are the risks.  On the other hand, Private Equity is where Bill Gates and others actually made their wealth – through the stock of their startups which grew into behemoths.  For those who have never encountered this here’s a quick economic explanation.

Starting a new enterprise is extremely risky.  They say that 9 out of 10 companies fail, but the number is probably 99 out of 100 that fail.  But the 1 that succeeds, can potentially win big such as Google, Microsoft, Amazon, etc.  Stories about people like Bill Gates are portrayed as misleading, they allow people to think that ‘anyone can do it’ which statistically is a true and correct statement.  The reality is if you graduate from Stanford or Princeton the chances of you becoming the next Bill Gates are infinitely higher than any other timeline.  From start to maturity, take a look at this chart:

Recently you may have heard about “Unicorns” which are simply billion dollar private companies.  Another term that’s been coined is “Pre IPO” which means basically companies that are so big, they should be public, but they are not.  Private Equity deals with the full spectrum until a company is public.  Now look at this risk chart:

Basically, as a company becomes older, it becomes less risky, and the potential ROI also declines.  Take the example of a startup.  In a seed stage investment, you can lose 100% of your money, or potentially make 3,000% returns.  If you invest in Palantir, which is going to IPO soon, you can potentially lose 100% of youARMING peoples' health!!!!r money but chances are your losses are limited because Palantir has such a good reputation, it’s almost a ‘blue chip’ private company.  Remember we are comparing Palantir to a startup, not to publicly traded blue chips.  The potential return for investors on Palantir is comparatively low, they may be happy with a 50% return or 2x.  But they are happy to get a smaller return for smaller risk.  This function is a metaphor to explain what happens to companies over time, it doesn’t mean that all companies fall into a simple linear model.  Each company needs to be evaluated for its own risks and benefits.

Read more at : ZeroHedge.com and Risk.news.

These evil people are making huge PROFITS and at the SAME time HARMING peoples' Health!!!

 

That's NOT The Way You Do It - When Money Is For Nothing! 11 August 2020

How the big time crooks from UMNO must have held their sides with laughter to see Lim Guan Eng hauled up over a paltry charge of allegedly conspiring to skim a 10% “profit bribe” plus another alleged RM3.3 million supposedly pocketed in return for his government having awarded (through open tender) a multi-billion dollar project. Imagine taking so little and imagine waiting until profits come in to demand the gratification – after all, ten years on and the project has not yet got going, so no 10%!  Any UMNO practitioner worth their salt would have got themselves a fat percentage up front – look at Rosmah and the solar power project for Sarawak schools. Even better there is that simple, run-of-the-mill practice of inflating the contract to accommodate all the kickbacks. Najib is a master in how to do that one – this DAP amateur should have asked him. For example, with the East Coast Rail Link the former UMNO prime minister cum finance minister simply doubled the contract from RM30 billion to RM60 billion and got the Chinese state contractor to backhand him most of the difference. Likewise the inflated Sabah pipeline projects which Najib’s finance ministry illegally paid 80% upfront, so that a billion dollars could immediately be channeled back through Kuwait and then the Seychelles through to his 1MDB creditors in Abu Dhabi. That’s the way you do it, “money for nothing” as the popular lyric goes. If Lim Guan Eng had alternatively decided to use the ‘foundation’ scam, well it sure seems like the present UMNO boss (Najib’s successor Zahid Hamidi) could have taught him a thing or two about managing that one! No wonder then that this opposition leader’s oh-so-ordinary wife (she has to WORK for a living after all) has always been kitted out so dowdily. No Parisienne couture for simple Betty Chew with her market stall handbags and dreary working woman’s shoes. And if political success is to be measured by the grandeur of one’s home and holidays, well we have all seen the interior of the Najib household (Netflix ‘Dirty Money’) with its echoing corridors and gilt sofas in Kuala Lumpur’s poshest area. Compare that palace to the modest two story Penang bungalow inhabited by this ‘failed’ couple.  Also, the total absence of photos of them enjoying super-yacht holidays all over the Med or 7 star luxury accommodation in the likes of Beverley Hills, let alone buying up half Harrods and the Hong Kong jewellery stores. Nonetheless, it is this paltry home, which the couple rented for a few years before they finally got a mortgage and put the money down to buy, that is of course at the centre of the other much feted corruption charge, reported years ago to the MACC by UMNO supporters from “Najib’s Gang” and now being ‘re-chauffe’d’ to haul them through the courts. As everyone knows the market price of a home is actually what someone is prepared to buy it for and what the seller is prepared to take. There are clearly plenty of benefits to the vendor in selling to existing long term tenants for a clear profit (RM300,000) as opposed to chucking those tenants out and risking the market. Especially if they were celebrity friends you might wish to boast about. However, despite the UMNO persons who filed the report having admitted they only did so after hearing ill-founded accusations about the ‘low price’ from political enemies of the DAP leader, the MACC have now built a case of elaborate conspiracy against these two parties to the transaction. The allegation is that Lim Guan Eng and his wife achieved a cheaper deal on the property than their friend the vendor might have managed to get on the open market (might being the operative word) in return for an inducement – rather than simply telling the vendor the maximum price they could afford and asking if she would accept it. Let’s not forget in all this, the couple had to get a big mortgage to meet the not insubstantial RM2.9 million on the house – it was hardly for free nor did the vendor sell at a loss, far from it. So, what was the inducement? What the MACC have alleged is that in return for the ‘cheaper’ deal the couple gained on the house Lim Guan Eng a year later as the head of Penang’s development authority allowed a company involving the vendor to put in a construction proposal on agricultural land. Do they have evidence there was a conspiracy here and that the couple had planned to remunerate the vendor in this backdoor manner through abuse of power?  Because, if there are no written agreements, recordings or witnesses to the alleged scheme such a conspiracy would be hard to prove at the best of times. However, even what appears to have been mere speculation has been fatally undermined, because in the event Penang’s open tendering and planning process (overseen by Lim Guan Eng himself) threw out the vendor’s company proposal and the land remains to grow rice and vegetables as before. As any UMNO warlord could surely have told this bunch of amateurs if you take such a bribe, then you need to deliver on the project. The vendor did not gain benefit from the deal. So, unless the vendor has turned prosecution witness to denounce her former tenants for having accepted her deal on the house for ‘planning favours’ but then ‘welshed’ on the agreement, it would seem hard to fathom what evidence there could be to find the couple guilty of conspiring to abuse their power for money. Likewise, the tunnel farrago. There is still no tunnel so there has been no payment of “10 profit bribe”. The chap on whose testimony the accusations rely in this separate case (an UMNO member and convicted fraudster according to reports by Lim Guan Eng’s own fiercest critics) has admitted to paying politicians left right and centre to gain their favour towards his business, but says he has no way to prove these alleged cash payments. Meanwhile, Lim Guan Eng has queried what evidence the MACC have found of him being ever in possession of unexplained cash that might have come from such payments, because he says he was never questioned over any such amounts and doesn’t have them? The couple’s home was raided but the court was presented with no details of stashes of cash or valuables or hefty bank accounts, and they say they were never questioned over any alleged suspicious sums. So, as we are yet again talking about an alleged conspiracy that never delivered on its alleged promise, what evidence does the MACC propose to produce to stand up their tunnel story? The contractor says he offered the ‘profit bribe’ alone in a car with Lim Guan Eng, but that the politician made no response….. so no recording is likely to be of help. The contractor also says that he later rescinded the offer after being told there would be an open tender, but still received no comment from Lim Guan Eng. Cash At Identified Last? Yet, there was an indication in court today that the MACC plan to bring as evidence three separate payments made to Betty Chiew, the lawyer wife of Lim Guan Eng, totalling a relatively paltry RM372,000.  At last an actual money payment, but sadly not even enough to buy a single Birkin handbag! Is this the elusive evidence on which the MACC and new AG will hang their case? Betty Chew is a practising lawyer. She has said these payments which the MACC have chosen to describe as “money laundering” were professional fees. If so, she will have documents to support those payments as lawyers always do, given they charge an awful lot (Hadi Awang’s London lawyers charged him in excess of RM2 million for handling his failed case against Sarawak Report, for example, and they will have detailed every penny). Who wins this argument will be learned in court. It seems either the MACC will be alleging that the vendor of the home paid Betty Chiew legal fees for a non-existent purpose (as a way of increasing the benefit of the allegedly below market price for the property) or the MACC are alleging the money paid to Betty Chiew was from a criminal source, which she ought not to have accepted. If it is the latter then one wonders why criminal proceedings relating to that crime have not also been initiated against the person alleged to have paid Betty Chiew (one assumes the vendor). On the other hand, if it is the former then the MACC must prove the legal work performed by Betty Chiew was a bogus front for the alleged conspiracy to gain a development opportunity – good luck to them given that in the end the vendor/ commissioner of the work appears to have got nothing for their pains. As all Malaysia knows this is a case that has already been thrown out of court once for lack of evidence and it is not hard to see why.  So, the grounds on which the new AG has sanctioned this return to prosecution must involve new evidence – according to the law that is. However, Malaysians must also bear in mind that they have a return of UMNO behind the case and that the brother of the same AG has just been appointed Speaker of Parliament also by ignoring the due process of the law. So, unless there is so far hidden new evidence to transform this case the signs are that it has been brought for the very reason almost everyone suspects, which are politics and vengeance as UMNO seek to find anything with which to prosecute and attack the clean reputation of their political opponents. In the long run as the facts are tested in the courts it is a case that is likely to backfire as it has before. But, if the purpose is merely finding mud to sling over the next few months as Najib appeals his billion dollar convictions and UMNO pushes for partisan elections then that purpose will have been served

10 dangers of statin drugs

 

Discover 10 dangers of statin drugs

by: Lori Alton, staff writer | August 9, 2020

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(NaturalHealth365) With over 25 percent ofAmerican adults over age 40 currently taking statin drugs to lower cholesterol, it’s clear to see that these medications are capable of yielding astronomical profits for Big Pharma. In 2019 alone, for example, Lipitor (atorvastatin) generated a stunning $2 billion dollars in revenue for its manufacturer, Pfizer.

While statin medications are lavishly endorsed and prescribed by Western medicine, natural health experts have long cautioned of toxic side effects – and clinical research exists to back them up.  Let’s take a look at ten unwanted adverse effects from statin drugs, along with some nutrients that can help manage cholesterol naturally.

Cholesterol: Villain or hero?

Most conventionally-trained physicians believe that a specific type of cholesterol known as LDL is a primary risk factor for heart disease, the leading cause of mortality in the United States.  Statin drugs – which include fluvastatin, simvastatin and pravastatin – are touted as lowering LDL cholesterol while raising levels of beneficial HDL cholesterol.

Undeniably, these medications can lower cholesterol drastically.  But, at what price to the body?

Research has shown that cholesterol is essential to the proper functioning of cells – and is also converted into vital hormones such as estrogen and testosterone.  An increasing number of integrative doctors maintain that LDL cholesterol is actually necessary for body function – and that heart disease is really triggered by unaddressed infections, a lack of physical activity and, of course, a poor diet of processed foods and toxins.

In addition, too little cholesterol, they note, can be just as harmful as too much!

In fact, an eye-opening 2005 study from Columbia University found that people with the very lowest total cholesterol and LDL cholesterol levels were twice as likely to die within three years, compared to those with the highest levels.

Statin-induced muscle stress causes muscle pain, weakness and fatigue

Muscle and joint pain are among the most common adverse effects reported by statin users. Sharp cramps, a nagging, aching sensation, persistent tenderness, muscle fatigue and even tendonitis are all on the “menu” of possible effects.

Disturbingly, experts say that these adverse effects of statin drugs may be only partially reversible.

These muscle problems can progress to myositis (an inflammation of the muscles) and, in severe cases, to rhabdomyolysis -a potentially fatal condition that can cause severe inflammation, muscle damage, muscle cell death and kidney failure.

Keep in mind, reports clearly indicate that statin drugs can cause toxic stress on the mitochondria, the “energy power stations” in the cells – thereby inhibiting the birth of new mitochondria.  In addition, statin drugs can worsen symptoms of other muscle disorders such as myasthenia gravis and muscular dystrophy.

Double whammy: Statin drugs may promote muscle injury while reducing mitochondria after exercise

One of the physical benefits of exercise is to raise the quantity and function of the mitochondria. But statin use seems to cause mitochondria to decrease with exercise – meaning these drugs not only negate an important benefit of exercise, but actually reverse it.

And, being in optimal physical condition seems to offer no protection. Marathon runners and elite athletes have higher levels of muscle injury with statins compared to those not taking statins.

One study even showed that animals that exercised on statins had an astonishing 226 percent more muscle damage than those not receiving statins – a troubling finding by any standards.

Health ALERT: Statin drug “therapy” increases risk of type 2 diabetes

Statin drugs increase insulin in the blood, which can trigger insulin resistance and set the stage for type 2 diabetes.  In a 2014 meta-analysis of 137,000 patients published in the British Medical Journal, researchers found a “moderately increased” risk of new-onset diabetes in patients given higher potency statins after cardiovascular events or procedures.

In the face of this powerful evidence, the FDA has been forced to acknowledge that statins can occasionally cause diabetes.

Warning: “Brain fog” ahead! Statin drugs can cause memory loss, impaired concentration and mood changes

Not only can statin drugs cause pain and muscle damage, but they can harm something that is arguably even more important – our memories and cognitive abilities. In various studies, statin drugs have been associated with forgetfulness, impaired concentration and diminished ability to remember words.

They can also cause disturbances in mood.

In 2008, Beatrice Golomb, M.D., Ph.D. – Associate Professor of Medicine at the University of California San Diego – conducted a $5 million dollar statin drug study funded by the NIH.  Dr. Golomb notes that a substantial 30 percent of statin drug users report experiencing mood changes including anxiety, irritability and depression.

Statin drugs can promote obesity

Although the mechanism is unclear, statin drugs seem to lead to overeating and weight gain.

One 12-year study published in JAMA Internal Medicine showed that statin users increased their calorie intake by 9 percent, their fat consumption by 14.1 percent and their body mass index measurement by a hefty 1.3 – when compared to non-statin users.

It should be noted: two thirds of American adults are currently overweight or obese – a primary risk factor for heart disease.

Statins are associated with heightened cancer risk

In an extensive review of studies published in BMC Cancer, the authors reported that prolonged use of statins was associated with significantly increased risk of colorectal, bladder and lung cancers.

And, the bad news just keeps on coming.

Medical authorities warn: Watch for liver inflammation and injury

Statin drugs raise the liver’s production of enzymes, which can cause liver damage and inflammation. In fact, the Mayo Clinic specifically warns statin users to be vigilant for signs of liver damage, such as jaundice (yellowing of the skin) dark-colored urine and fatigue.

This is common sense, everything we consume must be filtered (processed) through the liver.  Unfortunately, many people have no idea that they are harming their liver health.

Statins contribute to atherosclerosis

Ironically, there is some evidence that statin drugs may damage the very arteries they are supposed to protect!

In a study of 6,673 subjects published in Atherosclerosis, researchers found that statin drugs increased amounts of dangerous calcified plaque in coronary arteries -thereby raising risk of coronary heart disease.

Statin therapy causes nerve damage

Statin use is associated with higher incidence of nerve degeneration and pain.

Caution: Drugs for high cholesterol can reduce levels of antioxidants and essential nutrients

Finally, statin drugs can interfere with the production of disease-fighting molecules like glutathione – an important antioxidant that is strongly correlated with health and even longevity.

They also impair production of CoQ10, a vitamin-like antioxidant compound vital for heart health, normal blood pressure and muscle function.

Statin drugs are also associated with reduced blood levels of alpha-tocopherol (a natural form of vitamin E) and beta-carotene, an antioxidant natural plant pigment.

Support heart health with natural supplements and proper diet

Many natural healers strongly endorse CoQ10 supplementation for those taking statin drugs. Integrative healthcare providers may advise typical dosages of 100 mg to 300 mg a day, but (as always) check first with your own doctor.

For maximum benefit, your doctor may advise combining CoQ10 with vitamin E and L-carnitine.

In addition, curcumin from turmeric – a potent antioxidant that helps muscle fiber repair – and creatine, a compound needed to build muscle, can also help support mitochondrial activity. You can boost dietary levels of creatine by eating grass-fed beef, wild-caught salmon and cage-free organic chicken.

And, don’t forget the importance of proper nutrition for managing cholesterol levels.

Harvard Medical School advises avoiding trans fats, refined sugars, simple carbs and alcohol – along with eating healthy amounts of oatmeal, beans, eggplant, okra, soy, nuts, cold-water fatty fish and pectin-rich fruits such as apples and strawberries.

Clearly, statin drugs come with a lot of harmful “baggage.” While you should never reduce or eliminate prescribed medications unless advised to do so by your integrative physician, it might be time for you and your doctor to take a second look at statin drugs – and have an honest talk with your doctor about the risk to your health.

Sources for this article include:

Statista.com
Harvard.edu

Jho Low, 1MDB fugitives hiding in China - what are the communists leaders doing?

Jho Low, 1MDB fugitives hiding in China, says IGP

AFP

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August 5, 2020 6:50 PM

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(From left to right) Jho Low, Nik Faisal Ariff Kamil and Jasmine Loo are believed to be hiding in China.

KUALA LUMPUR: The alleged 1MDB mastermind and other suspects in the scandal are believed to be hiding out in China, the nation’s top cop said, urging authorities there to help hunt down the fugitives.

Billions of dollars were stolen from the sovereign wealth fund and bankrolled a global spending spree, with looted cash used to buy everything from pricey art to real estate.

Former prime minister Najib Razak lost power in 2018 over his involvement in the fraud and was last week convicted in court, but several other suspects remain at large.

The most prominent is Low Taek Jho, a bespectacled, chubby financier known for partying with Hollywood A-listers and accused of being the scandal’s mastermind.

Police said last week Low was believed to be hiding in the semi-autonomous Chinese city of Macau, but Beijing swiftly shot down the suggestion, insisting it does not harbour foreign criminals.

However, Inspector-General of Police Abdul Hamid Bador said a woman was arrested this year who had been sending documents to Low in the gambling boomtown, and authorities had concluded he was there.

He also said Nik Faisal Ariff Kamil, ex-CEO of a 1MDB unit, was believed to be in Hong Kong while another former official from the fund, Jasmine Loo, was thought to be in the Chinese city of Shenzhen.

“Jho Low is almost freely conducting his business” in Macau, he told AFP in an interview, and appealed for help from authorities. “We want the local authorities, the police, in Macau to act responsibly.”

“Don’t the authorities in Macau have the police instinct to assist us?” he added.

Low’s whereabouts have long been the subject of speculation, and he has been rumoured to be in other locations including the United Arab Emirates. He has been charged in Malaysia and China over 1MDB, and denies wrongdoing.

Hamid also said ties with police in Hong Kong had deteriorated in recent years, hindering law enforcement efforts there.

Officials in Hong Kong and Macau did not immediately respond to requests for comment.

The police chief said it was hard to know when he would succeed in hunting down Low, commonly known as Jho Low, and other fugitives.

“As long as there is a lack of cooperation from authorities in Hong Kong or Macau… it is impossible for me to give any dates,” he said.

But he added: “We will never rest. We will bring them to justice.”

Jho Low, 1MDB fugitives hiding in China - what are the communists leaders doing? Getting money from J. Low to allow him stay jn China. Greedy people or trying to protect themselves from any misdeeds that J. Low knows about. Interpol should do their duty and go in and arrest him.  Interpol afraid of commies eh, eh.

Najib’s SRC trial - Next nail him for 1MDB

All you need to know about: The High Court’s judgment on Najib’s SRC trial

Monday, 03 Aug 2020 05:43 AM MYT

BY KENNETH TEE

Datuk Seri Najib Razak leaves Kuala Lumpur High Court after he was found guilty of abuse of power and misappropriating RM42 million from SRC International Sdn Bhd July 28, 2020. — Picture by Ahmad Zamzahuri

KUALA LUMPUR, Aug 3 — The High Court’s verdict in convicting and sentencing Datuk Seri Najib Razak for the misappropriation of SRC International Sdn Bhd funds totalling RM42 million last week was unprecedented in Malaysian history.

In a proceeding which lasted several hours, the former prime minister was convicted and found guilty on all seven charges of misappropriating RM42 million from SRC International Sdn Bhd by the High Court after a trial which lasted a total of 95 days.

The former prime minister was subsequently sentenced to 12 years’ imprisonment and a RM210 million fine. The sentence has been stayed pending appeal.

Here is a simplified version of High Court judge Mohd Nazlan Mohd Ghazali’s two-hour-long judgment of the seven charges Najib was convicted for that was sighted by Malay Mail.

The abuse of power charge 

In his judgment, Mohd Nazlan said it was clearly established by evidence that the accused had a personal and private interest in SRC International, a finding which remained unrebutted by the defence.

“In my evaluation, despite the matter being in the 10th Malaysia Plan, the impetus for the proposal to actually initiate what was embedded in the plan came from someone associated with 1MDB, not the Government.

“Even if the accused was not singularly responsible for the setting up of SRC, the more pertinent point is that the approval for the establishment of SRC by the accused provided the true starting point for the involvement of the accused in the company,” he said, adding that it was patently clear that the idea or proposal did not originate from a government agency or ministry. 

Mohd Nazlan also emphasised that Najib had an interest in SRC International as he participated in the Cabinet meetings which approved the company’s application for the government guarantees.

“And the said decision to approve directly put the accused in a position that had access to more funds of SRC.

“The gratification in terms of the advantage immediately became an entitlement of the accused, only for him to decide as and when it was essential for such funds to be channelled for his own use,” he said.

Mohd Nazlan said the accused’s participation in the Cabinet meetings which approved the government guarantees for the RM4 billion financing to SRC International from Retirement Fund Incorporated (KWAP) directly caused the accused to be in a position of access to much greater funds of the company — at any time and as and when he deemed necessary — including to the RM42 million that flowed into his accounts in late 2014 and early 2015. 

The judge further said the reason for the participation was precisely the motivation for the intention to have access to much larger funds in SRC International, which included the RM42 million. 

Mohd Nazlan also pointed out the inconsistencies of Najib’s conduct subsequent to the release of the entire RM4 billion loan to SRC International with his involvement prior to. 

“The cross-examination of the accused revealed in clear fashion a number of conclusions that do little to bolster his defence.

“First, there is no evidence that shows that the accused was even concerned with the use of the funds loaned to SRC by KWAP, both in terms of the fact that the monies was sourced from the country’s retirement pension fund, hence part of the public funds, as well as whether the pursuit of promoting the national energy strategic initiatives was anywhere closer to be met.

“The accused’s lack of action to recover the funds stated to be frozen by the Swiss authorities for alleged money laundering is therefore very puzzling and is instead much more consistent with the conduct of one who did not want the problem resolved given his own complicity in the unlawful transfer of the funds in the first place, as evidenced in the shareholder minutes of MOF Inc. notwithstanding his claim that these minutes were not genuine,” he said.

He also stated how Najib had disagreed with the assertion that the RM4 billion had since disappeared and was lost.

“Never mind the accused himself offered no evidence to show that he had taken any steps to ascertain what exactly has happened to the said funds,” he added.

The judge also said Najib could not provide a clear answer to the question whether he was satisfied with the progress of SRC International after the first drawdown of the RM2 billion before agreeing to support the second RM2 billion loan.

Najib had in his testimony claimed he did ask and was told that the monies had been set aside for immediate investment requirements but did not inquire whether the loan remained in cash. 

“Again, I find this hard to fathom when the source of the funding was the pensions fund and the sum involved was extremely large by any measure,” Mohd Nazlan added.

The three criminal breach of trust charges

The judge also pointed out how Najib — as then finance minister and legal owner of SRC International under MoF Inc — did not take the logical step of returning the RM42 million to the company even after he was informed of it nor take any immediate action to inquire or clear his name. 

“But in cross-examination despite repeated questioning, he maintained he did not return the same because investigations were pending. 

“This is unconvincing since given the doubts, he should have at least offered to set RM42 million aside for a possible return to SRC or as the authorities might determine. That did not happen.

“His failure to articulate an intention to repay the same, let alone actually returning the RM42 million is difficult to countenance,” Mohd Nazlan added.

On Najib not being involved in the RM42 million transactions into his accounts, Mohd Nazlan said there has never been any allegation of wrongful debit of monies out of SRC International and its subsidiary Gandingan Mentari Sdn Bhd.

“Evidence has been led that Nik Faisal had always been the highest-ranking executive in SRC. He was at the same time the mandate holder of the accused’s personal accounts.

“Although removed as the CEO of SRC for governance issues, Nik Faisal continued to be a member of the board of directors and more importantly remained a signatory of the SRC and GMSB funds, as well as the mandate holder of the accused’s personal accounts,” he said.

He added the inference was that Nik Faisal’s signature was necessary to effect the fund transfer including as directed by the accused of RM42 million.

Mohd Nazlan stated that the totality of the evidence was more consistent with the version that Najib knew about these transactions but deliberately wanted him insulated from the efforts taken to prevent any risk of public disclosure. 

“I reiterate that the accused was the owner of these accounts. He tasked the three to manage his accounts. He spent monies out of these accounts. Any alleged reactive course of conduct or subterfuge was at all times undertaken to ensure there was sufficient funds for use by the accused. 

“There is no basis to the submission that these were done to avoid the accused knowing the true details of the transactions in his or other accounts. Nor could the accused, when cross-examined, offer a reason why they would want to conceal the RM42 million remittance from him in his long testimony.

“The fact remains that, as confirmed again by the testimony of the accused, that Jho Low and Datuk Azlin, apart from Nik Faisal the official mandate holder, did have contact with the accused on his accounts.

“The inference is therefore inescapable as it is overwhelming — that they or any one of them must have informed the accused about the balances of the accounts, including the remittance of RM42 million into two of the accounts, so that the accused would be well informed on his issuance of personal cheques out of those accounts,” he said.

The three money-laundering charges

Mohd Nazlan in his judgment said Najib had chosen willful blindness as prevailing circumstances and gave rise to a considerable degree of suspicion in that it must have been patently obvious to Najib that the funds could not have originated from King Abdullah.

“The circumstances which in this case so patently aroused suspicions in an overwhelming fashion lead only to the irresistible conclusion that the accused deliberately chose not to question and probe substantive questions that plainly required verification, so that he could deny knowledge. This is wilful blindness.

“In the instant case, however the accused took not a single step to investigate in order to find out the truth of the matter. 

“The accused’s defence that he honestly believed that the funds remitted into his accounts were donations from King Abdullah is nothing but an implausible concoction,” he said in the judgment.

He then emphasised the facts and evidence of this case as relevant to the dishonest intention and knowledge for the CBT charges also warrant the inference that Najib knew that the RM42 million that followed into his accounts were from SRC International.

  Najib’s SRC trial - Next nail him for 1MDB, Time to Bring in Jho Low (The communists protect him should be arrested and dealt with), unless President Xi and gang are also involved. Are they profiting from his BILLIONS of Ringgit!!!