Saturday, 18 March 2017

Who is regulating the flow of money or preventing laundering of illicit money flowing into Johore?

$100 Billion Chinese-Made City Near Singapore 

'Scares the Hell Out of Everybody'

Forest_City_JB_02            Forest_City_JB_01

Comment by Robert Chelliah

I had to close my Australian Migration Agency in Beijing two years ago for dangerously unhealthy financial activities of PRC central government and the wealth business men:

1.      Almost 80 % of hard Yuen currency are illicit money in cash form 
2.      As required by Australian financial regulators bulk of the  wealthy Chinese could
         not declare source of fund accumulated.
3.      The money laundering procedures via Hong Kong is well known 
4.      The Banks in China are under strict monitoring regime to prevent flow of money
         to outside China
5.      Russian Mafia money and Columbia drug money is flowing into china as
         overseas investment, unregulated and  welcome with open arms 
6.      From China this illicit funds flowed into Singapore until Singapore itself got
         alarmed and instituted some restrictions.
7.      I believe now the Singapore Casino plays an important point for the illicit funds
         to become omo detergent washed funds.
8.     The corruption and convoluted practices by public servants and financial
        institutions play a Russian roulette with mal practices.

Given all the above and more, it now begs the question who is regulating the flow of money or preventing laundering of illicit money flowing into Johore?

Incidentally, some of the money earned in Johore by his Royal Highness Sukltan of Johore  is flowing into Australia where His Highness in building a huge palace by the Swan river.  

It is most likely the flow of even this illicit money into Johore, in billions, would have become a concern for the PRC central government . The Ambassador’s visit to the Johore site is more likely the PRC central government would have wanted reliable situational report for its next decision. It may well be some of the top officials themselves would be the investors in Johore.

Issues to ponder