Gremach Infrastructure's Google India Attack, Austral Coke:W.Virginia,Mozambique Coal Baron's Squalor

Well we're living here in Allentown
And they're closing all the factories down

Out in Bethlehem they're killing time
Filling out forms
Standing in line.....

Well we're waiting here in Allentown
For the Pennsylvania we never found

For the promises our teachers gave

If we worked hard
If we behaved.

So the graduations hang on the wall

But they never really helped us at all

No they never taught us what was real

Iron and coke,
Chromium steel.

- Allentown by Billy Joel

.............

I was born a coal miner's daughter

In a cabin on a hill in Butcher Holler

....my Daddy made sure.. shoveled coal to make a poor man's dollar

- from 'Coal Miner's Daughter'
Loretta Lynn

.............

background:

http://www.australianit.news.com.au/story/0,24897,24200488-15318,00.html

Google blogger case goes to court

Tariq Engineer and Jessica Vascellaro
August 19, 2008
A SMALL Indian construction equipment company is demanding that Google
disclose the name of a person who used its blogging service in a case
that could change the way the internet giant does business in India.

Google's Indian subsidiary, Google India Private Ltd, is being sued
for alleged defamation in Bombay High Court by Mumbai-based Gremach
Infrastructure Equipments and Projects Ltd.
Last September, Gremach bought a 75 per cent stake in 11 coal mining
licences in Mozambique. This year, a blogger using the name Toxic
Writer criticised the company on blogger.com, which allows individuals
to create blogs without publicly revealing their identity.
.......
Below are comments of a past 'business' partner of Gremach and Austral Coke stock promoters - Mr. Ratanlal Tamakuwala and Mr Rishi Raj Agarwal- who are sueing Google India over posts of an anonymous Indian blogger upset with their plans to mine Mozambique coal.
This is Deja Vu for me because British Israeli con artist and money launderer Michael Zwebner who is also 'business' partner of corrupt Israeli Prime Minister Ehud Olmert,besides threatening my life,also sued Wolf Blitzer and CNN(not me!) for $100 million in 2005 because I,Tony Ryals, posted under the alias wolfblitzzer0 on ragingbull.con penny stock promotion board in order to criticise and expose and warn about their Air Water Corp pump and dump money laundering fraud operation !
Israeli PM Olmert was later caught taking bribes from another Jewish American securities con artist,Rabbi Morris Talanski,(whose Global Technologies NASDAQ pump and dump fraud put the 'IFEN' or In Flight Entertainment Network' on board the Swissair 111 that is suspected of causing it to crash after disconnecting its black box)on September 2,1998 ! But that's another story...:

Thursday, August 7, 2008
http://coresectorcommunique.blogspot.com/2008/08/fraudulent-misstatements-in-prospectus.html


Fraudulent Misstatements in the Prospectus of Austral Coke & Projects Limited

...The financial comparison by Austral with Gujarat NRE Coke, which is
based on such engineered and doctored data is made with the twin
intent to cheat and defraud investors on the one hand and defame
Gujarat NRE Coke on the other.

2.The promoters of Austral have claimed that they were the original
promoters of Gujarat NRE Coke, conveniently forgetting to mention that
they were forcefully "expelled" in 1997 from Gujarat NRE Coke Limited
by the shareholders because of fraudulent practice including
defalcation of shareholder monies. Several cases against Mr. Ratanlal
Tamakuwala and Mr Rishi Raj Agarwal are still pending in the Calcutta
High Court for investigation and recovery of public investor funds
defalcated by them........

Gremach Infra-Promoters are believed to be diverting funds to ...- Aug
153 Jul 2008 ...
Gremach Infra-Promoters are beleived to be diverting funds to Austral
Coke, a group concern" by hari ...
groups.google.com/group/aiii/browse_thread/thread/514f6ecd1a577403


Has Austral Coke's base money been ...Gremach Infra promoted Austral
Coke's IPO opened for subscription yesterday, with serious allegations
having been cast upon the promoters Mr. Tamakhuwala ...
w122.grp.scd.yahoo.com/group/delhistockclub/message/4748


UPDATE 1-Gremach buys stake in 11 Mozambique coal mines
...The acquisition will provide feedstock security for Gremach group
firm Austral Coke & Projects, which makes met coke, he said. ...
in.reuters.com/article/companyNews/idINBOM16914720070925


....................

The original purpose of this article post was to point out that India's
Gremach Infrastructure Equipments & Projects Ltd that is threatening
to sue Google because of an anonymous poster 'using the name 'Toxic
Writer' criticized the company on blogger.com, a site that allows
individuals to create blogs....' is no more than an India stock market
version of U.S. incorporated penny stock pump and dump scams and has
lost 80% or so of investor money in the last few months.If anything
their own investors it should be sueing them. However when I say
'investors' -I do not mean such international stock sharks and hedge
fund entities as Merrill Lynch or Templeton Funds or Eureopean Swiss
Finance Corporation or Caytman Island based LB India Holdings Cayman
II Ltd., offshores.These international securities parasites are in my
opinion part of the problem and have aided and abetted Gremach and its
insiders and promoters,such as or particularly Mr. Ratanlal Tamakuwala
and Mr Rishi Raj Agarwal,to take retail or small investors for a
ride.I DOUBT Merrill Lynch lost a dime and I presume they and their
anonymous millionaire or billionaire clients made off like bandits
with the India Gremach insiders in scamming both Indian and foreign
middle class investors alike.It's not far fetched to imagine that Bill
Clinton's or Mitt Romney's Cayman accounts werte filled just a little
fuller in said fraud or ones similar to this...
And while Gremach was successful months ago in intimidating Google
India to remove Toxic Writer's blogsite from the internet it seems he
or she was more agitated over Gremach investments in coal mines in
Mozambique than by the money losing investor rip off Gremach is or has
become....Maybe Toxic Writer is not the defrauded investor I suspected
him or her to be at first but an Indian or even an African who could
just not stomach the industrialial globalization poisoning and
suffocating both the biosphere and humans who are victims of it alike.

However because Gremach is a coal and steel concern or at least bills
itself to be in order to intice and defraud investors for their and
the likes of Merrill Lynch's and Templeton Fund's et.al.'s personal
gain - the coal and steel concerns of international Indian and other
millkionaires and billionaires caught my attention equally as I tried
to find Toxic Writers' no longer existent blogsite and vollies against
Gremach and its multi national stock manipulating elites.

Along the way I found the Louisiana Republican Governer,John McCain
boaster and Indian American 'Bobby'
Jendal was himself employed by and on very good terms with European
Indian steel(and thus coal)billionaire Lakshmi Mital whose Nucor ArcelorMittal has now substantial coal interests in West
Virginia,etc..Bobby Jindal as Governor of Louisiana and ex employee of
Mittal has even been looking into giving Mital special concessions for
his business in Lousiana itself !
Be that as it may and given the fact tat U.S. energy addiction and
apparent lack of trained business or corporate managers and engineers
may be cause for these international takeovers in the first place what
is truly unethical are international con artists the governments around
the world allow to defraud both their own and other citizens for the
economic gain of an elite international mafia who bribe those
government leaders with their illicit gains wheteher it be American or
India politicians or other. And while it is going on - whether it be
economic rape such as Gremach has pulled off with its international
capitalisers such as Merrill Lynch or whether it is a U.S. CIA penny
stock fraud or boiler room such as Belladore Group of Kuala Lumpur
that used a Stanford University
'biotech' penny stock fraud called
Endovasc tp rip me off - we or Indian,American or European investments
in Mozambique coal mines that rape that environment and its people -
we should all have the right to cry out anonymously or using oyur own
name at least at the very least until democracy returns to our streets
and we can take our grievances to our officials publically without
fear of arrest or physical injury by police in the streets for doing
so !

In truth the internet has come to be a great consumer of energy as its
spews forth both information as well as misinformation and thus in
some ways calls for more sacfifice of the environment and Mozambique
and West Virginia coal,etc.,than ever before. Maybe Google should be
investing or at least looking into energy sources to run this all on
besides Mital's West Virginia coal or 'Indian' coal in Mozambique,I
don't know....
With regards to Steves Forbes.con's rankings of billionaire's and putting
Microsot's Bill Gates followed by Warren Buffett and then European
Indian coal and steel magnate third - I don't doubt they are wealthy
but I do doubt that all billionaires brag or disclose or make public
their assetts to Mr.Forbes or that he would disclose hidden wealth of
the W Bush crime family and other international criminals even if he
knew all the hidden accounts and oil or gold etc., reserves they and
their bosses had amassed around the world at any given time.
It is a known fact that ever since the Bush regime's invasion of Iraq
the metter at Al Basra that should have been ticking away the barrels
of oil flowing from there to the Persian Gulf has been mysteriously
broken or turned off.Why ?

And even if Iraq after the payment of fraudulent 'war reparations' to
Bush regime's royal allies of Kuwait and Saudi Arabia has managed to
create a surplus of 10's of billions dollars - just how much Iraqi oil
has been stolen while this Al Basra meter has been off or 'broken' ?!
The truth is that the oil unaccounted for would have created a number
of new billionaires or made the same ones even more billions than they
are accounting for.Where is it !? And of course it is scum like the
Bushes and Clinton's and John McPain's and their petroleum trafficking
clients who most fear any loss of control of
'their' Georgia oil pipeline - not American youth they send or wish to
send to die fighting for !

This is one reason why the use of shares from Indian stock markets and
particularly U.S. markets even or especially U.S. 'penny stock'
markets should be audited.It(the laundering of all this illicit stolen
wealth)is probably the reason today for all the fraudulent claims of
'naked short
selling' in the U.S. that has even been picked up by Al Jazeera in
english when in fact Arabic has no word in stock or 'securities'
jargon for 'naked shorting' - it is a term created by far right wing
and probably CIA stock criminals of which its premiere promoter over
the internet is James Dale Davidson founder of Steve Forbes' National
Taxpayers Union located near the CIA and SEC or Securities Exchange
Commission office in Alexandria, Virginia !And now SEC Chairman and ex
Enron Latham and Watkins defender of stock fraud has even cliamed -
lied - that Fannie Mae and Freddie Mac shares were 'naked shorted !

Arizona 'Pastor' Kenneth Haywood Whose Yahoo! Account Sent Supposed
Islamic Terrorist Threat 5 Minute Before over 50 Indian Citizens Were
Blown to Bits Flees India.Campbell White that employed him was really
Door and Potter's House Christian Fellowship Ministries Front that may
be CIA front...Jonathan Heimberg who
is involved may be a Judeo rather than Christian Fascist and several
of those involved are involved in possible CIA connected U.S. penny
stock frauds...

Only a few weeks ago I was writing about Yahoo! and its connections to
White House and Beltway and right wing causes and a protector of
government employees' email - particularly White House ones - from
public access.Also the use of Yahoo stock or public company message
boards for anonymous posters to promote very questionable companies
in order to pump or promote their shares so the crooks could sell or
'dump' them in mass.
Then a Yahoo! account turns up in India to be used by supposed Islamic
terrorists' only we find the account really belongs to a Kenneth
Haywood a far right Christian fundamentalist from Arizona now living
in Mumbai and all his associates besides being part of Door Ministries
or Potter's House or Christian Fellowship Ministries, also can be tied
to worthless U.S. penny stock frauds such as Jonathan Heimberg and his
penny stock scam and Bobb Dodd and his 'Christian' Jeans pump and
dump scam.It appears that the leader may have something to do with
Bancsharwes just like David P Summers who used CIA and SRA
International Endovasc connected shares to rip me AND MANY OTHERS off
! And Richard Carter,another Arizona Chistian preacher who is part of
the Campbell White team whose Yahoo! account mysteriously seny that
Islamic terrorist threat minutes before bombs killed over 50 Indian
citizens on July 26 seems also to be provided cash through securities
fraud that Christopher Cox - W Bush's criminal SEC Chairman who lied
about WMDS in Iraq for him - pretend not to see. In fact money stolen
from me and others by Endovasc's David P Summers (a northern Virginia
and Dominion bancshares banker who lied about being a Montgomery,Texas
based biotech inventor and who also
worked with James Dale Davidson and even the Ukranian-Israeli Grin
brothers in offshore money laundering of their theft),may have been
used by Santa Monica attorney Francis Pizzulli to aid American
torturor of Afghans in Kabul and Fox 'News' video maker -
Jonathan Idema ! Funny that Fox News Judeo Fascist Frank Luntz name
and quote turned up on campbellwhite.net website where the Yahoo!
Islamic terrorists sent their 5 minute advance warning from in
July.....

Below link is latest news on what began my focus on India in the first
place,the Arizona preacher Kenneth Haywood of the far right Christian
Fellowhip,Door Ministries,The Potter's House etc. had his Yahoo!
account used by supposed Islamic terrorists to send a warning five
minutes before up to 50 or more Indian citizens were killed in bomb
blasts on July 26.
The Indian government should pay more attention to why presumed Indian
Islamic terrorists prefer to use Yahoo! email accounts,including a far
right American Christian fundamentalist such as Haywood who also uses
a fly by night company,
Campbell White,along with all his far right Arizona,etc., buddies to
disguise their right wing Christian prosyletizing in India ! And
Jonathan Heimberg may even be a Judeo Fascist posing as a Christian
Fascist and all nearly all this group appears to profit from U.S.
penny stock frauds such as Reverend Robert Dodd and
Heimberg,et.al.,that may have CIA CONNECTIONS.I say CIA connections in
great part because of the Campbell White employees' U.S. penny stock
connections that I have
mentioned in earier posts.The CIA connected SRA INTERNATIONAL,''IT',OR
INTERNET TECH COMPANY TO THE WHITE HOUSE,SEC,GAO AND VARIOUS U.S.
MILITARY PROJECTS, HAS SPUN OFF ITS MANTAS 'ANTI-MONEY LAUNDERING
SOFTWARE TO I-FLEX PUBLIC COMANY OF INDIA A FEW YEARS AGO AND HAS HAD
ITS OWN SHARES PROMOTED BY A BOILER ROOM CALLED BELLADOR GROUP OF
KUALA LUMPUR WITH DUBAI CONNECTIONS !
Who else would associate themselves so blatently with U.S. penny stock
fraud as Campbell White 'employees' have except those with government
connections and protections ?

http://timesofindia.indiatimes.com/India/Blasts_Haywood_flees_from_India/articleshow/3378041.cms

Ahmedabad blasts: Ken Haywood flees from India
19 Aug 2008, 0000 hrs IST,TNN


MUMBAI/DELHI: In a dramatic development in the terror email case, US
national Ken Haywood, who had yet to be given a clean chit, flew out
of the country with his family from Delhi late on Sunday night despite
a lookout notice given to the immigration authorities. ( Watch )

http://www.dnaindia.com/report.asp?newsid=1184511

Missionary or spy? Did someone help Haywood flee?
Josy Joseph
Wednesday, August 20, 2008 04:32

NEW DELHI: Was Kenneth Haywood, whose cover was blown by an extremely
savvy terrorist group that hacked into his internet connection, an
undercover operative? Was his intention in India just to evangelise
people on behalf of his radical church group, or was he up to
something more sinister? And who helped him flee the country despite a
lookout notice?Were there higher-ups in the Indian establishment
facilitating his exit?

.......................

http://groups.google.com/group/aiii/msg/801e5b540ca06ecd
Message from discussion
Gremach Infra-Promoters are believed to be diverting funds to Austral
Coke, a group concern

Maverick
View profile
More options Jul 3, 9:42 pm
From: Maverick
Date: Thu, 3 Jul 2008 20:42:12 -0700 (PDT)
Local: Thurs, Jul 3 2008 9:42 pm
Subject: Gremach Infra-Promoters are believed to be diverting funds to
Austral Coke, a group concern

Gremach Infra: Weak Footing
BSE 532836; CMP Rs 84

-The stock has plunged from Rs 500 to Rs 84 on July 3rd, 2008.

-The company has not received a single Oil Rig from China so far.

-The company has been funding group company Austral Coke's Rs 300
crore met coke project.

-The company is also required to fund its Mozambique Coal Mines.

-FIIs hold close to 26 per cent of Gremach Infra and some of them
including Templeton are liquidating positions.

-Gremach has declared a Dividend of a mere Rs 1 per
share...underlining poor liquidity and cash position.

-Investors can take their call on the stock.

-The stock supply is coming from the following sources.

if(ns4) document.write("");else {}
Gremach Infrastructure Equipments Quarter ending : March 2008
Shareholding belonging to the category
"Public" and holding more than 1% of the Total No.of Shares Sl.
No. Name of the Shareholder No. of Shares Shares as % of Total No.
of Shares

1 Merrill Lynch Capital Market Espana S A 400,000 2.63
2 LB India Holdings Cayman II Ltd 352,000 2.31
3 Swiss Finance Corporation (Mauritius) Ltd 708,270 4.65
4 Punjab National Bank 199,855 1.31 5 Templeton Mutual Fund A/C
Franklin India 710,605 4.67
6 Franklin India Smaller Companies Fund 609,877 4.01
7 Mavi Investment Fund Ltd
500,000 3.29
8 Sophia Growth - A Share Class Of Somerse 300,000 1.97

Total 3,780,607 24.84

Nothing in this article is, or should be construed as, investment advice.

...........

If Google were protecting far right criminals whose email accounts
were used as Yahoo!'s have been,to send terrorist communiques,I would
be protesting Google myself. But it is Yahoo! in India and in America
that is allowing that.Even before Arizona right wing pastor Ken
Haywood's Yahoo! account account was used in India to send a supposed
Islamic terrorist threat minutes before bombs killed over 50
Indians,Yahoo! accounts were India's terrorists prefered form of email
communication, just as coincidentally it has been acknowledged that
Yahoo! is also the U.S. government agents' and White House employees'
approved email site to hide sensitive communication from the American
public !

My recommendation to Google would be to host Indian or others free
speech from the U.S. sites or from another country rather than
stooping to Yahoo!'s tactics of turning journalists in as Yahoo! did
in China!Then go public with Google's own free speech campaign,solicit
public contributions to a Google free speech and legal fund, and fight
the bastids whether in India or Germany or Israel or India who would
dare censor free speech just because they can't defend criticism or
accusations with truth !

Actually 'Toxic Writer',the Indian or other,( maybe a Mozambique
blogger angry about Gremach coal mining activities in Mozambique ?),
blogger has been removed or censored from Google India blogger site
early this year so why do India's fraudulent stock promoters,working
with U.S. and European stock manipulators,(and probable money
launderers and tax evaders ala the anonymous Lichtenstein fraudsters
who often deal worthless U.S. peny stocks as their currency of
preference),want or have any right to his or her name after already
having harrassed and intimidated him or her so much already !? And why
can't we the public read what Toxic Writer had to say !?

And if the Indian insiders to the coal mining and steel business pump
and dump frauds that are Gremach Infrastructures and or Austral Coke
with its Merrill Lynch,Templeton
and other share holder insiders named below are so proud of their great
corporate management and mining operations as to promote them
unendingly over the worldwide internet why should they have any right
to censor all criticism !? Is Merrill Lynch not aiding and abetting an
international stock fraud by trafficking in heavily discounted,
(to them),and probably near worthless shares of Gremach and or its
'IPO' Austral Coke to begin with.

If Gremach is such a good investment
why doesn't Merrill Lynch and Templeton Funds et.al., buy their shares
retail on the open market like small investors and take their chances
like small investors they in their Indian penny stock promoters scams
do ? Then maybe they would also be outraged when the share value drops
80% or so within a few months,
(probably because insiders are dumping them after promoting them on
the internet which is why they complain when someone criticises them
on the same media), rather than being a beneficiary - along with their
corrupt Indian stock promoter partners of this illegal 'pump and dump'
activity !

I believe that 'Toxic Writer', the harrassed and censored blogger
that Gremach is abusing Google to release the identity of should be
commended and protected by the Indian government and court system for
having brought this massive fraud
benefitting American and European hedge funds scamsters such as
Merrill Lynch,Templeton,to our attention in the first place.
While European-Indian coal and steel billionaire Lakshmi Mittal,was
not part of my subject matter originally he became somewhat so as I
discovered his ties to both U.S. coal in West Viginia and to
Betheleham steel as well as Koppers' Monessen Coke Plant, located in
Monessen in Pennsylvania
but also to the Indian American Louisiana Republican Governor Bobby
Jindal who he has been a virtual 'suger daddy' to.(Also interesting to
discover a Jindal Steel company incorporated in India that may or not
have Republican Governor Jindal of Lousiana family connections.)

Also the fact that Mr.Mittal has enriched himself not just in coal and
steel but by selling huge amounts of shares to investors - about a
billion dollars worth to enrich himself further in just a one year
period - he has come to appear as bad or worse than the Gremach pump
and dump self enrichers and their hedge fund pals combined,in my
humble opinion.In fact that billion Mr.Mittal got from dumping his
coal company's shares is substantially more than any official numbers
of oil company CEOS even after ctheir recent killing in the world
markets.

And of course Panamanian illegal and Viet Cong Manchurian candidate
John McCain (HE WAS BORN THERE AND THUS IS NOT REALLY ELIGIBLE TO BE
U.S. PRESIDENT AND THUS IS GETTING SPECIAL TREATMENT TO SAY THE LEAST)
- brainwashed by both his war mongering U.S.navy admiral daddy and
Vietnames Viet Cong under strict Chinese supervision - John McPain,I mean
McCain, - prostituted himself to criminal Arizona banker Charles
Keeting and even McPain's wife is a conflict of interst with her
financial ties.....

MCPAIN AND JINDAL AND MITTAL,OH BOY..

I wonder if our illegal Panamanian (illegal to be President of the USA
anyway after being born outside the country)and Republican Manchurian
candidate,John McCain,knows of or about those right wing Arizona
fundie 'Christians' from Prescott and Tempe,etc.,Arizona who just escaped
India to seek refuge in his home state AGAIN after having had their
Yahoo! email account used by supposed Islamic terrorists in India !?
oR THE FRAUDULENT CFRN OR CHRISTIAN FINANCIAL RADIO NETWORK GANG WHO
ALSO OPERATE THEIR INTERNATIONAL U.S. PENNY STOCK FRAUD AND MONEY
LAUNDERING OPERATION OUT OF PRESCOTT, ARIZONA ?

http://helloji.wordpress.com/2008/05/26/could-jindal-be-the-vice-president-of-us/

Could Jindal be the Vice President of US?
26 May 2008 by FabbiGabby

Louisiana Governor Bobby Jindal along with wife Supriya are spending
the Memorial Day weekend at Republican presidential nominee John
McCain's ranch in Arizona........
Turning down offers from both Yale Law and Harvard Medical, Jindal
accepted a Rhodes scholarship and moved to Oxford, earning a master's
degree in political science. After Oxford, he joined McKinsey &
Company, a consulting firm, where he advised Fortune 500 companies.
Most notable was his work for Indian tycoon Lakshmi Mittal of Arcelor
Mittal.

..........

It was a slow day,
And the sun was beating
On the soldiers by the side of the road,
There was a bright light,
A shattering of shop windows
The bomb in the baby carriage
Was wired to the radio,...
These are the days of lasers in the jungle,
Lasers in the jungle somewhere,
Staccato signals of constant information,
A loose affiliation of millionaires
And billionaires and baby,
- from The Boy in the Bubble by Paul Simon


mittal jindal coal steel

http://www.steelguru.com/selectednews/index/2006/003/06/archives.html

March, 06 2006
India should stay neutral on Mittal Steel bid Mr Ratan Tata


Mr Ratan Tata, chairman of the TATA group, has said that the Indian
government should not have any role to play in Mr Lakshmi Mittals bid
for Arcelor. It was a decision best left to Arcelors shareholders.

In an interview to TV anchor Charlie Rose, Mr Ratan Tata said: If they
think its good for them, I would imagine they would sell. Its not an
Indian company. He is an Indian national but has lived overseas for
many years. His company is registered in Rotterdam. The Indian
government should ideally not be involved or take sides as its an
issue the Arcelor shareholders have to decide.
........................



Search Results

After Mittal, now Jindal Steel eyes Jharkhand24 Jun 2005
... JSPL too has interests in coal mining near Raigarh. Last week yet
another group company, Jindal Stainless Steel, managed by Ratan Jindal
...
www.ibef.org/artdisplay.aspx?cat_id=484&art_id=6565


JSW Steel scouts for coal block in Mozambique- Jindal Group-'J ...24
Aug 2006 ... MUMBAI: The Sajjan Jindal-promoted JSW Steel has signed
an MoU with a ... and Pramod Mittal-owned Global Steel Holdings have
bid for coal ...
economictimes.indiatimes.com/.../JSW_Steel_scouts_for_coal_block_in_Mozambique/rssarticleshow/1921166.cms


Indian Steel cos want to buy global ore- Steel-Ind'l Goods / Svs ...3
Jan 2007 ... KOLKATAL Even as global steel majors like Arcelor-Mittal
and Posco are ... Navin Jindal's Jindal Steel & Power (JSPL) has
picked up stake in ...
economictimes.indiatimes.com/

.......................

Tuesday, January 29th, 2008

Mittal Steel to Divest Sparrows Point Steel Plant of the Now-Defunct
Bethlehem Steel

By William Patalon III

Executive Editor
Money Morning/The Money Map Report

Investment bank Morgan Stanley (MS) will manage the sale of Mittal
Steel Co. NV's (PINK: AMSAF) Sparrows Point steel mill near Baltimore,
a court-appointed trustee has told The Associated Press.

In two related developments, a Citigroup Inc. (C) analyst has upgraded
the shares of ArcelorMittal (MT) - the company that has grown out of
Mittal Steel - from a "Hold" to a "Buy." And billionaire investor and
steel tycoon Lakshmi Mittal and his family will make $935 million in
stock dividends from their stake in ArcelorMittal this year, according
to new media reports...........

http://aaenvironment.blogspot.com/2006_06_01_archive.html

African American Environmentalist Association Dedicated to protecting
the environment, enhancing human, animal and plant ecologies,
promoting the efficient use of natural resources and increasing
African American participation in the environmental movement.:



Monday, June 26, 2006
Mittal Steel Merges With Arcelor To Become Giant

India-born steel magnate Lakshmi Mittal, right, has negotiated a
merger between his company, Mittal Steel and Arecelor for $34 billion.
The megamergers within utilities, oil and gas firms and the steel
industry appear to be getting more painful to conclude. Arcelor fought
the merger ruthlessly before relenting and now a son of India is
running a steel giant from Luxembourg. The new company will be named
Arcelor-Mittal. The new company will also have 320,000 employees, $70
billion in revenue and 100 million tons of annual capacity. Lakshmi
Mittal is third richest man in the world behind Bill Gates and Warren
Buffet and is the richest man residing in Britain.

ArcelorMittal

http://coresectorcommunique.blogspot.com/2008/08/arcelormittal-announces-acquisition-of.html

Monday, August 4, 2008
ArcelorMittal announces acquisition of Koppers' Monessen Coke Plant
Luxembourg, 4 August 2008 - ArcelorMittal, the world's leading steel
company, today announces that it has signed an agreement to acquire
the Koppers' Monessen Coke Plant from Koppers Inc. for $US 160
million.

Koppers' Monessen Coke Plant, located in Monessen, Pennsylvania
produced 320,000 metric tons of metallurgical coke in 2007. The
transaction is subject to receipt of relevant regulatory approvals.

C
..................

ArcelorMittal to buy Appalachian coal producer: Financial News
...ArcelorMittal's U.S. acquisition focuses on metallurgical-grade
coal, which is used to make coke for steelmaking. Metallurgical coal
prices have soared from ...
biz.yahoo.com/ap/080623/arcelormittal_acquisition.html


..................................

Gremach Infrastructure's Google India Attack, Mozambique Coal,Austral
Steel And Indian Coal Miner's Squalor

........................

http://www.projectsmonitor.com/detailnews.asp?newsid=10930

Austral Coke to set up greenfield coke plant

Madhu Chittora



Austral Coke and Projects Ltd, the flagship company of Gremach
Infrastructure Equipments and Projects Ltd, proposes to establish a
3-lakh metric tonne greenfield coke manufacturing plant at Sindhudurg,
Maharashtra,.....

[03 April 2006]

.............

Thursday, August 7, 2008
http://coresectorcommunique.blogspot.com/2008/08/fraudulent-misstatements-in-prospectus.html


Fraudulent Misstatements in the Prospectus of Austral Coke & Projects Limited

Gujarat NRE Coke wishes to condemn in the strongest words the manner
in which Austral Coke and Projects Limited, whose public issue has
opened on August 7th 2008 has used half truths and downright lies in
its prospectus and other public documents.

Austral has not only made a series of mis-statements in its prospectus
fraudulently, but has also dragged in the Gujarat NRE Coke name as a
"peer" seeking to cash in on our reputation and goodwill in the
industry and the investing fraternity.......

2.The promoters of Austral have claimed that they were the original
promoters of Gujarat NRE Coke, conveniently forgetting to mention that
they were forcefully "expelled" in 1997 from Gujarat NRE Coke Limited
by the shareholders because of fraudulent practice including
defalcation of shareholder monies. Several cases against Mr. Ratanlal
Tamakuwala and Mr Rishi Raj Agarwal are still pending in the Calcutta
High Court for investigation and recovery of public investor funds
defalcated by them.








.....................


.......................




...............................

http://www.mineweb.net/mineweb/view/mineweb/en/page504?oid=59466&sn=Detail


Mozambique to resume coal exports in 2010

Mozambique will restart exporting coal in 2010, following the
reconstruction of a railroad giving the Moatize coal field access to
the sea.

Author: Charles Mangwiro
Posted: Tuesday , 12 Aug 2008

MAPUTO (Reuters) -



Mozambique will resume coal exports in 2010 after reconstructing a 665
km railroad from the Moatize coal fields to the harbour in the central
port city of Beira, a top official said on Tuesday.

National Director of Mines, Fatima Momade told Reuters the Sena
railroad, whose rehabilitation began in 2002, would be completed by
that time.

The repairs are being carried out by Indian consortium Right and Icon,
which has a 51 percent stake in the group, while Mozambique's Ports
and Railways Company (CFM) holds the remaining 49 percent
shareholding.

Rehabilitation is budgeted at a $475 million, paid for through a World
Bank loan.....

As world demand for coal booms big mining companies have started
flocking into Mozambique.

Mozambican authorities have so far issued a total of 125 licenses for
coal exploration, mostly in western Tete province and the northernmost
province of Niassa.

Brazilian mining giant, Vale, formerly Companhia Vale do Rio Doce
(CVRD), is investing over $2 billion after the government granted it a
25-year concession to mine coal in Moatize, which is believed to
contain 2.4 billion tonnes of coal deposits. Vale is expected to begin
mining in 2010.

...................................

Gremach Infrastructure's Google India Attack, Mozambique Coal,Austral
Steel And Indian Coal Miner's Squalor

Indian Coal Magnate and Ripoff of Americans and American Investors
Complains that his American Coal and Steel Operations' Chinese
Competition is 'Foreign Competition',
Ha


La. Gov Bobby Jendall,Nucor Arcelormittal


google bobby jindal nucor Arcelormittal


http://www.steel.org/AM/Template.cfm?Section=Industry_News&CONTENTID=25137&TEMPLATE=/CM/ContentDisplay.cfm

U.S. Plate Producers File Circumvention Case Against China
August 14, 2008
PR Newswire

Chinese Producers Adding Boron to Avoid U.S. Antidumping Duties; U.S.
Industry Asks Commerce Department for Ruling Within 45 Days

Washington, DC— Today, domestic steel producers Nucor ArcelorMittal
USA Inc. filed a request for a circumvention ruling with the
Department of Commerce, seeking a determination that Chinese producers
of cut-to-length carbon steel ("CTL") plate have been adding
economically and metallurgically insignificant amounts of boron to
their products in order to avoid paying U.S. antidumping duties.




http://www.steel.org/AM/Template.cfm?Section=Industry_News&TEMPLATE=/CM/ContentDisplay.cfm&CONTENTID=25031

Steelworks Firm Ready To Build St. James Iron Plant
August 9, 2008
New Orleans Times Picayune

But construction hinges on permits, incentives from state

CHARLOTTE, N.C. -- Nucor Corp. plans to build a 500-employee iron
plant in Convent and wants to break ground in January, as long as
Louisiana grants the necessary environmental permits and the
Legislature backs an incentives package crafted by the administration
of Gov. Bobby Jindal, the steelmaker's chief executive officer said.....

"The ball is truly in Louisiana's court," DiMicco said. "The shovels
are in the closet and ready to go."

............................

.......................


http://economictimes.indiatimes.com/stocks_in_news_home/Subscribe_to_Austral_Coke_IPO_Keynote/articleshow/3341151.cms
Subscribe to Austral Coke IPO: Keynote
8 Aug, 2008, 1200 hrs IST, ECONOMICTIMES.COM

MUMBAI: Keynote Research has recommended 'subscribing' to the initial
public offering of Austral Coke and Projects with a long term view
only. The company has come out with an IPO of 72,60,000 equity shares
(excluding green shoe option of 10,89,000 shares) of Rs 10 each,
aggregating to Rs 142 crore, it is in the price band of Rs 164-196 per
share. The IPO closes on Aug 13...

................

to_Austral_Coke_IPO_Keynote/articleshow/3341151.cms - 38k - Cached -
Similar pages - Note this

Austral Coke rules out out-of-court settlement - Yahoo! India News-
Aug 15 The tussle between Austral Coke and Gujarat NRE showed no signs
of abatement, with Rishi Raj Agarwal, Austral Coke's MD, saying on
Monday that he would ...
in.news.yahoo.com/241/20080812/1257/tnl-austral-coke-rules-out-out-of-court.html


........................

Campbell White's Jonathan Heimberg - Pseudo Christian ?, Judeo Fascist ?,CIA ?
http://la.indymedia.org/news/2008/08/219406.php
India Bombing,Ken Haywood,Campbell White,Door Ministries,Christian
Fellowship Ministries
http://londonontario.indymedia.org/?q=node/611
Yahoo!,India Bombing: Campbell White Computer and Strange Fox
News-Frank Luntz Connection
http://la.indymedia.org/news/2008/07/219163.php
Yahoo!'s China,U.S. Government Agents Jerry Yang,Carl Icahn,Missing
White House E-Mail,Adnan Khashoggi, GenesisIntermedia Stock Fraud,
Terrorism
http://manila.indymedia.org/en/2008/07/782.html
Fox News: Greg Gutfeld,Adolf Hitler's Jewish Relative,Defends New
Yorker Barack Obama Hit Piece
http://rochester.indymedia.org/newswire/display/21580/index.php
Israeli Foreign Agent Sharon Tzur, Media Watch International,PM Ehud
Olmert,Rudy Giuliani,Morris Talansky Bribery,Fraud
http://www.phillyimc.org/en/node/71228
CNN,Wolf Blitzer Cover Up Helped Ehud Olmert To Israeli PM Office
http://www.la.indymedia.org/news/2008/07/218752.php
9/11:While Boston Slept,Logan Airport,ICTS International,Israeli PM
Ehud Olmert's Money Launderer Menachem Atzmon Looked On......
9/11:Bush,Kuwaiti,Israeli Involvement Documented In Securities
Exchange Commission Filings
http://www.la.indymedia.org/news/2008/06/218648.php
W Bush,Chabad-Lubavitch,Rubashkin's Agriprocessors: Kosher Guns,Drugs,
Ilegal Rabbis,Guatemala Wage Slaves
http://www.stlimc.org/newswire2008/w-bushchabadlubavitc...9s-ag
WeCu,9/11:U.S.Homeland Security Secretary Michael Chertoff Promotes
Israeli 'Security' Fraud
http://www.indymedia.org.nz/newswire/display/75525/index.php
Israel PM Ehud Olmert,Menachem Atzmon,ICTS International,Morris
Talansky Global Technologies, U.S.Stock Money Launderers, WTC,
9/11/01,SwissAir 111,9/2/98
http://www.indymedia.us/en/2008/05/31513.shtml
UK Robert Wishart London Money Laundering,SEC's,Georgetown
University's, John Polise,U.S.Penny Stock Fraud
http://www.londonontario.indymedia.org/
SEC Inspector General H. David Kotz:Peace Corp'S Dayton Daily News
Critic,,Friend To Fraud
http://www.houston.indymedia.org/news/2008/04/63476.php
California Attorney Francis Pizzulli,Robert F Kennedy
Assassination,Afghhan Torture and Penny Stock Fraud,Money Laundering
http://www.londonontario.indymedia.org/
University of California Berkeley Grads James Angel,Joshua Ridless
Join SEC Chris Cox's 'Fraud Speech Movement'
http://www.milwaukee.indymedia.org/en/2008/03/209350.shtml
Israeli Prime Minister Ehud Olmert's Air Water Corp stock fraud
promotes pedophilia
http://www.columbus.indymedia.org/node/13382 Israeli Prime Minister
Ehud Olmert,'Orthodox Jews',Stock Fraud,Gay Prostitutes and Death
Threats
http://www.londonontario.indymedia.org/
Community Bank Northern Virginia's David P. Summers Also Texas
Endovasc Penny Stock Fraudster
http://www.richmond.indymedia.org/newswire/display/1432...x.php
Titan Corp's Makram Chams Suspends U.S. Constitution
http://www.indymedia.org.uk/en/2008/01/390122.htmlForbes on
Wikipedia:Gary Weiss 'Edits' James Dale Davidson's and His Own
Biography
http://www.stlimc.org/newswire/display/4040/index.php
Mitt Romney,CIA James Woolsey:Fox News' Islamofascist Ijaz Mansoor's
Advice Killed WSJ Reporter Daniel Pearl
http://www.indymedia.org.uk/en/2007/12/386838.html
Northern Rock, GB:Republican 'Libertarian' Ron Paul Lies About 'Naked
Short Selling'
http://www.indybay.org/newsitems/2007/11/21/18462713.php
EU,Mexico,CIA,Guantanamo Rendition Plane, Cocaine, Homeland 'Security'
http://www.phillyimc.org/or/2007/11/43320.shtml
Ambassador Marc Ginsberg,Fox News,Xybernaut Israeli U.S. Penny Stock Fraud
http://www.indymedia.org.uk/en/2007/10/384481.htmlCalif...ornia
Scheming:Rudy Giuliani,Paul Singer, Vulture Funds Africa,Adnan
Khashoggi,W Bush
http://www.houston.indymedia.org/news/2007/10/61645.php
9/11,WTC,Tanya Head,Rudy Giuliani,Adnan Khashoggi,Bernie Kerik, Naked
Securities Fraud
http://www.la.indymedia.org/news/2007/09/207929.php
9/11:CIA,Daily Kos,Jerome Arnstrong,Markos Moulitsas Zúniga,ICTS
Israel, Securacom Kuwait,ragingbull Fraud
http://www.houston.indymedia.org/news/2007/09/61381.php
Utah Governor Jon Huntsman Jr.,Securities Fraud,Stormy Simon
Striptease and Bloody Murder
http://www.la.indymedia.org/news/2007/09/206849.php
Samaritan Pharmaceuticals,a Georgetown University Penny Stock Fraud
http://www.portland.indymedia.org/en/2007/08/363198.shtml
Pluristem Placentas,James Dale Davidson,Leumi Bank Israel Holocaust
Victims,U.S.Penny Stock Fraud
http://www.israel.indymedia.org/newswire/display/7200/i...x.php
WTC,9/11,Logan Airport, Boston:Israeli ICTS 'Security':
Barney Frank,Ted Kennedy, John F. Kerry Face Psych Crisis
http://www.arkansas.indymedia.org/newswire/display/2104...x.php
Reuters on Security Exchange Commission Chairman Christopher Cox's
Terrorist List
http://www.portland.indymedia.org/en/2007/07/361996.shtml
Boston Logan Airport,9/11,WTC,Barney Frank,SEC,Israeli Penny Stock
Scam and Bloody Murder
http://www.austin.indymedia.org/newswire/display/35916/...x.php
Max Keiser ,Al Jazeera,Qatar promote Naked U.S. Penny Stock Fraud
http://www.indymedia.org.uk/en/2007/06/373856.htmlSEC'S
Christopher'WMDS'Cox:Georgetown University James Angel Pimps Pink
Sheet Penny Stock
http://www.portland.indymedia.org/en/2007/05/360325.shtml
Ex U.S. Treasury Secretary John Snow,Michael Moore, Cerberus,Bawag
Austria and Cuba
http://www.portland.indymedia.org/en/2007/05/359319.shtml
Charles Schwab,Mantas 'AML':Did The CIA's SRA International Eat George
W Bush's E-mail ?
http://www.indybay.org/newsitems/2007/04/28/18406278.php
U.S. Ambassador Sam Fox:From Swift Boat War Fraud to Brussels,Belgium
SWIFT Finance Fraud
http://www.portland.indymedia.org/en/2007/04/357306.shtml
Israeli pResident Moshe Katsav's Penny Stock Partner Michael Zwebner
loses in U.S. Court
http://www.melbourne.indymedia.org/news/2007/03/142021.php
Cryptometrics:New Zealand Passport Office Used By U.S. Penny Stock Criminals ?
http://www.indymedia.org.uk/en/2007/02/362828.htmlDavid Grin,Tel Aviv
University,Laurus Capital Management and Union Bank of Israel
http://www.israel.indymedia.org/newswire/display/6079/i...x.php
FOIA,Alberto Gonzales and SEC'S Chris Cox Enron,Merrill Lych,Latham &
Watkins conflict
http://www.cleveland.indymedia.org/news/2007/01/24225.php
Tim Mahoney,vFinance,Venus Methodist Church,Florida,Sayed Mustafa and
Islamic Usury
http://www.maritimes.indymedia.org/news/2006/12/15025.php
Charles Schwab:vFinance's Charles Patrick Garcia receives Henry B.
Gonzalez award !?
http://www.indybay.org/newsitems/2006/12/24/18340307.php
Democrats William Jefferson,Tim Mahoney, iGate,vFinance,DOBI, Endovasc
penny stock frauds
http://www.ntimc.org/newswire.php
James Dale Davidson,Charles Schwab,Tim Mahoney,VFIN, LOM and penny
stock share money laundering
http://www.phillyimc.org/en/2006/12/34919.shtml
Ireland Indymedia bans criticism of Lord Rees Mogg,James Dale Davidson
http://www.southafrica.indymedia.org/news/2006/11/11701.php
Post to Lord Rees-Mogg's Weblog re NASDAQ,London Stock Exchange
http://www.posting.beirut.indymedia.org/ar/2006/11/5982...shtml
Virginia:Marvin Bush,Securacom,9/11,U.S. Senator George Allen,Bawag
Austria,offshores...
http://www.southafrica.indymedia.org/news/2006/10/11458.php
U.S. Republican George Allen More Corrupt Than Utah Senators Bob
Bennett,Orrin Hatch ?
http://www.southafrica.indymedia.org/news/2006/10/11391.php
Asa Hutchinson,Charlie Crist,Jeb Bush,Republican stock fraud and drug
trafficking,etc....
http://www.houston.indymedia.org/news/2006/10/52801.php
Why did Osama bin Laden choose Jeb Bush's Huffman Aviation terrorist
flight school ?
http://www.austin.indymedia.org/newswire/display/34636/...x.php
Senator Bennett :Is Patrick Byrne's NCANS a Fraud ?
http://www.utah.indymedia.org/news/2005/10/11883_commen...t.php
Utah Gov Jon Huntsman,Senator Bennett, Hatch call Republican Senator
Shelby 'a gangster'
http://www.la.indymedia.org/news/2006/09/179748.php
Does NY Times censor 9/11 Venice,Florida connection ?
http://www.utah.indymedia.org/news/2006/05/14058.php
NY Rep.Peter King,CIA,Swift,NY Times,Republican stock fraud
http://www.utah.indymedia.org/news/2006/06/15693_commen...t.php
NY WTC 'protected' by Kuwaiti company and Marvin Bush on 9/11
http://www.dc.indymedia.org/newswire/display/132705/ind...x.php
Asa Hutchinson,Richard Rainwater,George W Bush,Tom DeLay & 5.6 Ton
cocaine bust in Mexico
http://www.arkansas.indymedia.org/newswire/display/1987...x.php
SEC,Schwab,Chris Cox,Hillary Clinton & Barbara Boxer Aid CIA'S
In-Q-Tel penny stock fraud
http://www.indybay.org/newsitems/2006/05/22/18246601.php
Senator Bennett :Is Patrick Byrne's NCANS a Fraud ?
http://www.utah.indymedia.org/news/2005/10/11883_commen...t.php
Cocaina,Ciudad Del Carmen,Campeche, Abril 10,CIA,Republicanos Y PAN
http://www.la.indymedia.org/news/2006/07/167389.php
Did Israel President Moshe Katsav aid Muslim Terrorism or only fraud ?
http://www.sbindymedia.org/newswire/display/3226/index.php
Israel: Gal Lusky's 'IFA' Caught Up in Moshe Katsav,Mohamed Hadid,
Zwebner 'UCSY' scam ?
http://www.chapelhill.indymedia.org/news/2006/03/19255.php
Israel President Moshe Katsav aids massive penny stock fraud
http://www.israel.indymedia.org/newswire/display/4195/index.php
Did Israel President Moshe Katzav aid Muslim Terrorism or only fraud ?
http://www.ntimc.org/newswire.php
SEC,Schwab,Chris Cox,Hillary Clinton & Barbara Boxer Aid CIA'S
In-Q-Tel penny stock fraud
http://www.indybay.org/news/2006/05/1824660.php
Chris Cox,SEC,Makram Majid Chams,Titan Corp,9/11,Abhu Ghraib,etc.
http://www.maineindymedia.org/newswire/display/3952/index.php
SEC Covers Up UAE Money Laundering with U.S. Stocks
http://www.ucimc.org/newswire/display/112399/index.php
Time Magazine, Daniel Kadlec duped by Houston attorneys Wes Christian
and John O'Quinn
http://www.cleveland.indymedia.org/news/2005/11/17786.phpJohn Reed Stark
UAE,SEC,Georgetown University Stock fraud Academic
fraud Cyber fraud
http://www.maritimes.indymedia.org/news/2006/03/12190.phpDoes NSA Serve SRA
International's 'Cookies' ?
http://www.india.indymedia.org/en/2005/12/211284.shtml
Porter Goss: CIA Cyber and stock fraud ops damaged by leaks ?
http://www.news.com.com/5208-1028-0.html;
D.C.Terrorbaggers:James Dale Davidson,Don Nickles, ex-CIA Chief
Woolsey,Asa Hutchinson,Tom McMillen
http://www.okimc.org/newswire.php
Asa Hutchinson,ex Congressman Tom McMillen, Fortress America,offshore
money laundering
http://www.cleveland.indymedia.org/news/2006/03/19034.phpTo
CIA,In-Q-Tel,Amit Yoran re SRA International, Mantas Inc stock fraud
money laundering
http://www.maritimes.indymedia.org/news/2006/02/11841.php
Mantas Inc,Herndon,Va,Pro-Money Laundering Arm of International
Bankers,Brokers...
http://www.ftaaimc.org/en/2005/12 /7186.shtml
CIA and Gilman Louie are
less than honest
http://www.news.com.com/5208-1082-0.html
Charles Schwab and Share-Money Laundering
http://www.indybay.org/newsitems/2005/06/12/17471071.php

Liechtenstein-India stock fraud connect ? Taiwan - Merrill Lynch Money Laundering Ops ?



In the above I say about Liechtenstein and U.S. penny stock fraud that,' why do India's fraudulent stock promoters,working with U.S. and European stock manipulators,(and probable money launderers and tax evaders ala the anonymous Liechtenstein fraudsters who often deal worthless U.S. penny stocks as their currency of preference),want or have any right to his or her name(Toxic Writer) after already having harrassed and intimidated (Toxic Writer)so much already !? And why can't we the public read what Toxic Writer had to say !? Below is a link and quote about possible Indian economic elite's ties with Liechtenstein just as their American,German,etc., brethren have recently been shown to have since a Liechtenstein baker-broker insider sold the German government secret information having to do with rich Germans using Liechtenstein as a money laundering tax haven.So maybe I was more than making an analogy between Indi penny stock scamsters and Liechtenstein based American and German penny stock scamsters and tax avoiders than was at first hinted at.Also is link and quote re Merrill Lynch who like Templeton and the Cayman Island hedge fund mentioned above is implicated in aioding elite Taiwanese in offshore money laundering ops...:

http://www.business-standard.com/india/storypage.php?autono=331669

Liechtenstein bank data expose Indian tax evaders


John Samuel Raja D / New Delhi August 18, 2008, 5:00 IST



The Indian government has received sensitive information from its German counterpart regarding tax evaders, who have channelled money in a tax haven bank in Liechtenstein, a small European country known for hosting such banks, and it is unwilling to make these details public.


It is not known at this point of time whether the information exchanged between the two countries contain details of account holders from India.

It all started in February this year, when a former employee of LGT Bank in Liechtenstein sold data on about 1,400 people to tax authorities across the world. This was followed by investigations by Germany, the US, the UK, Australia, Italy and others. After receiving the stolen data, the German government initiated action against around 600 taxpayers for possible tax evasion. It has reportedly offered to provide data to any country that seeks information.

Subsequently, India’s finance ministry wrote its first letter to German authorities in February 2008 seeking information on Indian account holders and followed it up with another letter in June 2008, the government disclosed in a reply to a Right to Information (RTI) application filed by the Indian-chapter of Transparency International.

When Transparency International asked for copies of correspondence between the two governments and the list of account holders in LGT Bank, the finance ministry replied saying that the exchange of information between India and Germany is covered under Double Taxation Avoidance Agreement (DTAA), which prohibits countries from sharing information.

“It’s not acceptable that the government is not disclosing the correspondence with the German government,” said Anupama Jha, executive director of Transparency International India.

In an e-mail response to a questionnaire sent to them, LGT Group said Indian authorities have not contacted them so far. “Due to client confidentiality laws, we are unable to disclose any client names. Also, with regard to stolen client data, we do not provide any nationality break-downs”, LGT spokesperson Christof Buri said. The German government did not respond to the questionnaire.

If the German government had given details of Indian account holders in LGT Bank, which is owned by the princely house of Liechtenstein, it will help domestic tax authorities to investigate tax evasion for money deposited in tax haven destinations. Tax haven locations thrive mainly because of difference in tax rates, often levying nil or very low taxation. Banks that operate in these locations are alleged to create complex offshore structures that will enable their clients to hide the assets from tax authorities.

This sort of tax evasion, according to a report prepared by the US senate sub-committee last month, had estimated that it cost US taxpayers $100 billion every year. LGT Group was one of the two entities named in the report.

But LGT denied the charges, saying, “Liechtenstein has very strict money laundering and KYC (Know Your Customer) regulations in place, and clients of LGT Group (as of any other Liechtenstein bank) are obliged to disclose the beneficial owner and have to give detailed information regarding the source of their assets”. But it said LGT is neither responsible for nor in control of the tax compliance of its customers.

LGT Group is a wealth and asset management group with or $91.5 billion of assets under its management.


Click here to read Business news in Hindi and Gujarati
...............................................


http://www.financeasia.com/article.aspx?CIaNID=82971&r=rss


How did Merrill Lynch miss the red flags?
By Dan Slater | 21 August 2008

A look at Merrill¡¦s role in the transfer of large amounts of money on behalf of family members of Taiwan¡¦s former president Chen Shuibian into Swiss bank accounts.

advertisement
The news that Merrill Lynch may have been involved in possible money laundering by members of the family of Taiwan¡¦s former president, Chen Shuibian, has raised questions about the bank¡¦s internal risk controls.

Merrill Lynch has declined to comment on any aspect of this article, apart from to say that ¡§as is our standard policy, we are cooperating with the authorities¡¨.

The facts of the case, as they have been reported by opposition party legislator Hung Hsiuchu and the press in Taiwan, can be summed up thus: former president Chen Shuibian's daughter-in-law Huang Jui-Ching reportedly opened two Merrill Lynch bank accounts in Switzerland (at Merrill Lynch Bank Suisse AG) in February 2007, and remitted millions of dollars from an anonymous Credit Suisse Singapore account in February and March that year into two separate accounts at Merrill Lynch in Switzerland. First there were transfers of $21 million and $140,000 respectively. A Cayman Islands account was set up three months later, and Huang transferred all the funds held in her personal name to this company. Merrill Lynch set up the Cayman Islands company on behalf of Huang, which is owned by Huang with power of attorney granted to Chen's son, Chen Chihchung. It has also been reported that an additional $10 million was wired from RBS Coutts to the Cayman company account at Merrill Lynch in Switzerland.

Credit Suisse declined to comment.

A spokesperson for RBS Coutts, says: "At this point in time we are aware that there has been numerous media reports and speculation on this issue. However our policy is not to comment on matters related to any individual on the grounds of client confidentiality."

The Swiss authorities earlier this year froze the assets in all the accounts and informed the Taiwan government of their investigation. The Taiwan authorities made this public earlier this month.

Conversations with private-banking professionals in compliance and money laundering as well as relationship managers lead to the conclusion that something must have been awry with Merrill¡¦s risk control system for such a situation to occur.

Systems at all leading investment banks are set up with triggers that aim to red flag transactions which are potentially unethical or illegal. These triggers cover the identifying of prospective clients as part of the KYC (know your customer) process; the ¡¥source of wealth¡¦; and how the client will ¡¥fund the account¡¦ as bankers say, and why any large sums of money are transferred. All these checks are meant to ensure investment banks are protected from the type of situation Merrill now finds itself in.

In particular, private bankers are trained to watch out for so-called ¡¥politically-exposed persons¡¦ or PEPs. Any person in a prominent political role (or connected to such a person) normally triggers heightened due diligence. ¡§Typically, it¡¦s very hard for an Asian PEP, especially (given the corruption in many parts of the region), to open an account. They have to go through a careful and detailed vetting process,¡¨ says one private banker, adding that the client profile for a PEP can be up to 40 pages long, twice the length of a normal private banking client application.

¡§As soon as a PEP said he or she wanted to open an account, the bank checks whether he has enough funds to qualify as a client for their private banking arm. They would, or should, have then checked how that person got that money ¡V whether it was inherited or whether they were corporate dividends or the proceeds of a sale or whatever. The basic principle is to identify any risks at the outset and then monitor how that risk evolves,¡¨ says the head of anti-money laundering at a major bank. ¡§If a bank allows large sums of money to enter their banking systems without checking on its origin, you have to ask: how good was the risk analysis at the outset?¡¨ he adds.

In other words, if Huang said she had large amounts of money in a Credit Suisse account, Merrill Lynch would have checked how she obtained that money, especially given it was transferred from a third party account to Merrill Lynch and especially for an obviously politically exposed person. Based on local newspaper reports, the sums are huge relative to the wealth of the Chen family (Chen himself has always been in public service, first as the mayor of Taipei and then as president) and especially large relative to Huang herself, who is unemployed, and whose husband (Chen¡¦s son) is seeking to go to law school in the US.

Private bankers say that the fact that the funds were being parked offshore should have raised red flags. ¡§You have to ask why the money was being sent to Switzerland, which historically has been a haven for money laundering because of its banking secrecy laws. You then have to ask why that money was transferred to a Cayman Islands company account,¡¨ says one banker.

A significant red flag would have been the transfer to the corporate account from the personal account, even within the same bank. ¡§Any transfer to a third party is treated very carefully partly because of the fear it could be funding terrorist activity, or fraud, or money laundering, or ¡V when it comes to PEPs ¡V embezzlement of state funds. Even though the owners of the company were the same as those who had a personal account with Merrill, the key thing is that it is a different legal entity. So that should also have signalled the need for increased due diligence,¡¨ says the head of anti-money laundering quoted above.

In particular, the fact that the Cayman company in question, Bouchon, was set up as a nominee company by Merrill Lynch Bank and Trust Company (Cayman) is suspicious. Such a structure hides the shareholders¡¦ names and should have triggered yet another red flag. (Fairfield Nominees and Fiduciary Services, companies owned by Merrill Lynch, are acting as nominee shareholder and nominee director respectively.) A simple check with the Cayman registrar of companies shows that Merrill Lynch Bank and Trust are also the registered office for Bouchon ¡V the entity which does the administration, record keeping and other corporate services for Bouchon, as well as providing a mailing address.

According to one lawyer with 10 years experience in the Caymans, such a structure is unusual. ¡§Nominee ownership of a Cayman company, intended to hide the actual beneficial owners is very rare. I never saw a single example of this in 10 years working as a Cayman lawyer. The anti-money laundering laws in the Cayman Islands are amongst the toughest in the world. It means that we wouldn't touch such a structure unless there were compelling business reasons to do so, and I can't think of a legitimate reason to hide this much.¡¨

This makes Merrill Lynch¡¦s decision to go ahead with the structure surprising. The structure could have been an integral part of any money laundering operation. That¡¦s because the names of the ultimate beneficial owners under a nominee structure are withheld. ¡§Setting up a Cayman Islands entity means that in all public documents, it will list Merrill Lynch¡¦s holding companies as the shareholder and director thereby protecting the identity of the true owners of the company. It also gives the true owners an air of legitimacy since Merrill is acting as registered shareholder and director,¡¨ says one private banker. ¡§Given that the documents of a Cayman Islands company are not publicly disclosed, you have to ask why such a structure was required,¡¨ he says.

At Coutts RBS the account was in the name of Galahad Management. No clarity is available on who the registered shareholders of Galahad were.

¡§It seems as if the plan was to consolidate all the funds held in different accounts under the Chen family and its associates, and to consolidate them in one, supposedly safe, place, namely Bouchon ¡V a company on paper controlled by Merrill Lynch but indirectly under the control of the Chen family,¡¨ comments a banker. The Cayman lawyer points out that finding out who really controls the company is very difficult since ¡§shareholder registers of Cayman Islands¡¦ companies are not publicly available ¡V unless you are a director of the company, you have no right to see who is a shareholder. Even shareholders don't have the right to see who the other shareholders are,¡¨ he says. What is disclosed is the registered office, which in Bouchon¡¦s case is Merrill Lynch Bank and Trust ¡V a globally respected brand, likely to give comfort to anybody dealing with Bouchon.

Sources close to Merrill say that the bank tipped off the Swiss authorities after the bank got suspicious. A spokeswoman for the Swiss Federal Prosecutor¡¦s office in Bern told FinanceAsia it is not commenting on the matter.

So why the tip off now? We can only speculate, but perhaps they may have decided to come clean after seeing what was happening to UBS in the US, where the Swiss bank is embroiled in a massive tax evasion case. In any case, the system¡¦s triggers are meant to be in place to prevent such situations from arising. Something clearly went awry. One possibility is that a senior person at Merrill Lynch overturned any concerns at the compliance department. ¡§It¡¦s the last thing compliance people want to see happen, but unfortunately, it does occur. Money talks,¡¨ says the money laundering expert.

Copyright FinanceAsia.com Ltd., a subsidiary of Haymarket Media Ltd

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comment from anonymous poster on offshorebusiness.com message board:

Obama selects Biden to be veep running mate
By Delaware & Co on 8/23/2008 8:49:51 AM
E-mail: Offshoreisbest@yahoo.com

"WASHINGTON - Barack Obama named Sen. Joe Biden of Delaware as his vice presidential running mate early Saturday"

Looks like the largest place on the planet for incorporation of offshore companies in total anonymity has a bright future in front of it.

If Binden does for Delaware what Cheney did for Halliburton, Delaware will soon be known as the largest offshore center in the world "where you can carry your business in total anonymity, guaranteed", "no questions asked"