WiseGuy inside The Corporate Mafia : the Demon'$ Deal

NOW for the case to stick as tight as a glue, for the housing ministry, Bank Negara Malaysia,  the Securities Commission  and Bursa Malaysia to go after Velocity Capital Partners Bhd and for the INCOME TAX DEPARTMENT  to go after Francis Leong Seng Wui, one has to prove the following ;

1. THAT indeed some RM22 million in credit was given to Francis Leong Seng Wui by Velocity Capital Partners Bhd. 

PROOF the above, and  the requlators will have little choice but to question Velocity Capital Partners Bhd, on why they have allowed themselvss to be exposed to a single client, to the tune of 11 per cent of their RM228 million loans portfolio.

QUESTIONS that should be asked is was there elements of criminal abuse of power or even criminal negligence in the loan approving process, considering that Francis Leong Seng Wui is a known associate of Victor Chin Boon Long.

IF, so why haven't the MACC been invited yet to do forensic limitus test on both Francis Leong Seng Wui and Victor Chin Boon Long.

SO where the hell is the proof?  Well it's right below.

1) Purchase of 260 million Hong Seng Consolidated Shares financed by Velocity Capital Partners Bhd.

In total, Francis Leong Seng Wui would  further buy another 10 million Hong Seng Consolidated shares thanks to money from  Velocity Capital Partners Bhd. 

270 million shares times the share price of 0.04 sen,  the grand total of this transaction comes out to RM1.08 million.

2) Purchase of 64.38 million South Malaysia Indistries Bhd at 40 sen a share.

64.38 million times 40 sen, the grand total is RM25.75 million.

3) RM25.75 million plus RM1.08 million is RM26.83 million. 

RM26.83 million divide the total loans given out by Velocity Capital Partners Bhd which stood at RM228 times 100 and the loans exposure of Francis Leong Seng Wui is a grand 11.76 per cent of the total loans given out by Velocity Capital Partners Bhd.