Money Laundering? Questions In Australia For Taib’s Brother Onn
Sarawak Report
Chief Minister, Taib Mahmud’s business-partner brother Onn has left some very awkward questions to be answered in Sydney, where his family lives in one of the city’s smartest houses, over-looking the harbour bridge.
Documents obtained by Sarawak Report plainly show that Onn Mahmud has offered conflicting information to the Australian authorities, in order first to obtain a Business Visa and then to export the profits from a series of multi-million dollar property transactions.
Incorrect information given to the authorities includes claiming that a foreign based company, Ryan Park Limited, which was used to sponsor his visa application, was an “Australian Private Company” registered in Australia.
We can further reveal that Onn Mahmud has bought and sold tens of millions of dollars worth of investments in Sydney real estate, through an elaborate network of off-shore companies, based in the Cayman Islands and managed by a top American bank, Merrill Lynch, from offices located in the Isle of Man.
The visa application, submitted by the Chief Minister’s brother to the Australian authorities, clearly states that Ryan Park and its associated companies (which all appear to have been ultimately controlled by Onn himself) owned commercial properties in Australia worth in excess of A$50 million:
“To date, the total financial commitment of Ryan Park and its associated companies to Australia has been for a sum in excess of A$50 million through investment in commercial properties in Sydney by Ryan Park and its associates, Ferncroft, Golden Arrow and Cherry Blossom” [Business Visa Application submitted by Onn Mahmud, 2002]
Visa application – in excess of AUS$ 50 million invested by Onn Mahmud’s companies in Sydney.
The application explains that Onn holds the position of ‘General Manager – Australia” for these companies, acting as their “sole employee”, who “reports directly to the Directors”. However, Onn’s ultimate ownership of the companies is also implied:
“In addition to the investment in excess of A$50 million in the Australian economy, Mr Mahmud and his investment companies are also creating employment opportunities.. ” [page 4, visa application form]
Yet, we can demonstrate that Onn Mahmud appears to have supplied incorrect details to obtain Australian Business Numbers (ABN) for one of the companies Ryan Park Limited, which is described as an “Australian Private Company”, although it does not in fact exist on the Australian Company register (ASIC).
Read more at: http://www.sarawakreport.org/2012/12/money-laundering-questions-in-australia-for-taibs-brother-onn/
