I reckon not that long, considering that READ : the police and the MACC have gone in very hard on the Johor based ciggarate syndicates over the past 72 hours.
THERE is a direct link between the personalities involved in the Corporate Mafia, and the now busted ciggarate syndicates.
ONE character which must and should be very worried about what has been taking place over the past 72 hours is Francis Leong Seng Wui.
WHEREVER, Francis Leong Seng Wui goes, there seems to be a trend for an as yet to be identified investor or group of investors to convert warrants into mother shares in a manner that suggest possible money laundering activities.
FOR example, during Francis Leong Seng Wui's tenure as the executive director of GREEN PACKET Bhd, the following transactions took place.
SINCE one warrant is converted into one mother share, basically the the 15 million warrants converted equals to 15 million Green Packet mother shares.
THE money required to convert the warrants into the mother share amounted to RM6 million . At that time Green Packet mother shares were valued at 0.05 Sen a share. SO basically for RM6 million , one could have purchased 120 million Green Packet mother shares from the open market.
THE same thing happened the moment Francis Leong Seng Wui was appointed as executive director of Revenue Group.
FROM April 2023, until Jan 2 2024, RM64 million was pumped into Revenue Group by converting the one for one warrants at 75 Sen perconversion into a single mother share.
SINCE, the conversions done does not make any economic sence and the quantum runs into millions of Ringgit, one can only assume that money laundering had taken place.
IF indeed money laundering taken place, was it drug money or cigarette money?
FROM the Home Minister Saifuddin Nasution Ismail statement on Saturday that READ : RM990 million of drug related assets have been seized by the authorities since 2019, one can conclude that there is mismatch with the amount of drugs seized.
READ :in 2020 the value of drug seized was RM403 million while in 2021, it was just under RM1 billion
CLEARLY , the syndicates have managed to conceal vast amounts of money by cleansing the money.
A RIGID interview by the Royal Malaysian Police Force, with key executives of public listed companies where money have come in without any economic sence, could lead to the seizure of much more than RM990 MILLION.
