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Saturday, 17 November 2012

"The Corrupt Find The Corrupt Guilty"

Sao Paulo ex-mayor guilty of stealing public funds


Interpol picture showing Paulo Maluf in 2009 
Paulo Maluf is sought by Interpol after being indicted
on money laundering charges in New York

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The former mayor of Brazil's largest city, Sao Paulo, has been found guilty of stealing millions of dollars from public funds and diverting them to his offshore accounts in Jersey.

A court in Jersey ordered Paulo Maluf, 81, to pay back $10.5m (£6.6m) plus interest to the Sao Paulo authorities.

The court in the British tax haven island said Mr Maluf had overcharged on construction projects and channelled the money into the Jersey accounts.

He denies the charges.

According to judgment, Mr Maluf made $10.5m from issuing over-inflated invoices for construction work on an eight-lane highway in Sao Paulo during his time as mayor of the city in the 1990s.

Witness intimidation

The money ended up in the accounts of two companies linked to Mr Maluf and his son Flavio, which are held with Deutsche Bank on the island of Jersey.

Mr Maluf and his son were jailed for several weeks in 2005 for intimidating witnesses in a money laundering case against them.

He has also been indicted by a court in New York on money laundering charges and is on Interpol's red list, meaning he faces arrest if he leaves Brazil.

The son of Lebanese immigrants, Mr Maluf was mayor of Sao Paulo in the early 1990s and twice a candidate for the Brazilian presidency.

He currently serves as a Congressman for the right-wing Progressive Party.

He has denied having any off-shore accounts and says the Jersey ruling had no legal basis.

He said it was for the Brazilian justice system to determine whether there had been irregularities in the construction projects carried out there and not for a court in Jersey.

1 comment:

  1. Lets get this straight Mr Le Clerq, LLoyds TSB appeared on Uk TV advising on how to avoid tax, that went silent then the Jimmy Carr tax avoidance story went viral then Standard Chartered Jersey Ltd are being investigated by the Americans for taking in bad money from the Mexicans and others. Then HSBC is accused of banking big money from drug dealers, and criminals all through Jersey of course.

    To quote the man with the ego but not enough honesty about him, our very own Ozouf, Jersey is a well regulated International finance centre, which means in the real world:

    You must be blind deaf and dumb to believe him or any of the Jersey agencies that get paid a small fortune to try and keep the burnt out knackered financial juggernaught looking whiter than white.

    ReplyDelete