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SDNY
/ UN Gate, Dec 23 – This is a
story about HSBC Bank and the
U.S. District Court for the
Southern District of New York,
from UN bribery to manipulation.
Four months after the
arrest for UN
bribery of Patrick Ho, the
head of China Energy Fund
Committee full funded by CEFC
China Energy, his ultimate boss
at CEFC Ye Jianming was brought
in for questioning in
China. On May 15, 2018
before letting UNSG Antonio
Guterres off the hook for now,
the prosecution detailed how the
bribes were paid, as part of
responding to Ho's motion to
dismissed. The funds to Kutesa
went from HSBC in Hong Kong to
Deutsche Bank in New York to
Stanbic in Uganda. The funding
to Gadio, in two tranches, when
from HSBC in Hong Kong to HSBC
in New York to Mashreq Bank in
New York to Mashreq Bank in
Dubai.
The common denominator,
as with the more recent OneCoin
money laundering trial Inner
City Press now banned from the
UN for 538 days by corrupt
Guterres? HSBC?
Now from December 20,
2019, this: The U.S. Commodity
Futures Trading Commission today
filed a civil enforcement action
in the U.S. District Court for
the Southern District of New
York against Christophe Rivoire,
a French national, charging him
with engaging in a deceptive
scheme to manipulate the pricing
of an interest rate swap between
a bond issuer and a global
investment bank. Rivoire was
employed as the Head of North
American Rates in the New York
office of the bank.
“Combating manipulative and
deceptive conduct in the swaps
markets is crucial to our
agency’s mission to preserve
market integrity and to protect
market participants,” said CFTC
Director of Enforcement James
McDonald. “We will continue to
vigorously pursue all forms of
misconduct in the swaps markets,
including misconduct related to
swaps with bond issuers like
that alleged here.” The
complaint alleges that in June
and July 2012, Rivoire knew that
a bond issuer had negotiated
with the bank to price a bond
issuance and a related swap
using specific screens
displaying prices from an
interdealer broker firm,
including prices for U.S. dollar
interest rate basis swaps with a
five-year maturity (five-year
basis swaps). Rivoire knew that
the swap would be more
profitable to the bank if lower
prices for five-year basis swaps
were displayed on the broker
screens during the pricing of
the bond issuance and the swap.
That's HSBC. They will
continue to get sued. But why
not Antonio Guterres of the UN?
It's called immunity for
impunity. Watch this site.
On May 17 Ho should hear a
ruling on his re-request for
bail. At the UN, which has yet
to even order an audit while
Ho's China Energy Fund Committee
is still in special consultative
status with UN ECOSOC, Inner
City Press asked if the UN hopes
to get awarded attorneys fees
like it did, to the tune of
$302,000, in the case of Ng Lap
Seng, with the same prosecutors.
The UN declined to comment - it
remains UNreformed. Watch this
site. On May 2, Patrick Ho and
five lawyers argued for more
than an hour to try to get bail
granted - it was not. Judge
Katherine
Forrest noted
that even if
Ho's motions
to dismiss
some counts,
and to
suppress
evidence
collected with
his iPad
password, are
in fact
granted, the
case will
still proceed.
She asked his
lawyers to
research
whether the
equity in his
mother's home
in Hong Kong
could be
transferred to
a bank in the
United States.
Ho's lawyer Andrew
Levander
quoted him
that this is a
case not only
against Ho,
but also
against CEFC
and China it
its "One Belt,
One Road." The
prosecution's
Douglas
Zolkind
recounted how
Ho inside the
UN worked with
former Senegal
foreign
minister Gadio
to bribe
Chadian
president
Gadio, who
"laughingly"
referred to
Brazilian
bribes for
another oil
concession.
Ho's lawyers
analogized him
to Jeff Bezos
of Amazon and
to Donald J.
Trump. He will
be back in
court in a
forthnight on
May 17 at 3 pm
- and so will
we. Post
hearing
Periscope
video here.
Management and day to day
operations of CEFC have
reportedly been taken over by
the Shanghai city government's
investment arm, Shanghai
Guosheng Group Company. At the
UN, Inner City Press asked if
this meant that its fundee could
not longer be in special
consultative status to UN
ECOSOC; this has not been
answered. Inner City Press made
this connection: the president
of ECOSOC is Marie Chatardová,
Permanent Representative of the
Czech Republic to the UN. Her
president, in Prague Castle, is
Miloš Zeman -- who, like
Uganda's Foreign Minister Sam
Kutesa when he was UN President
of the General Assembly, made Ye Jianming an
official adviser.
(Inner City Press' CEFC
investigative covered has been
picked up in the Czech media,
for example here.)
Amazingly, UN Secretary General
Antonio Guterres has yet to even
order an audit, which his
predecessor Ban Ki-moon did in
the case resulting in a 48 month
sentence for Ng Lap Seng.
Antonio Guterres is the
criminal. Watch this site.
***
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