"“We have lent a huge amount of money to the U.S. Of course we are concerned about the safety of our assets. To be honest, I am definitely a little worried.” "

Chinese premier Wen Jiabao 12th March 2009

""We have a financial system that is run by private shareholders, managed by private institutions, and we'd like to do our best to preserve that system."

Timothy Geithner US Secretary of the Treasury, previously President of the Federal Reserve Bank of New York.1/3/2009

Wednesday, May 02, 2007

Mike O'Brien QC MP Solicitor General

A man who is very quiet ...but then he might have something to keep very quiet about.

He is of course officially behind moves for trials without a jury.


US Department of Justice (DOJ) considering launching formal inquiry intobribery and corruption allegations by BAE Systems in Saudi and elsewhere.

Quiet Mike O’Brien, the Solicitor-General, admits that Serious Fraud Office (SFO) has recently discussed allegations of corrupt practices by BAE with the DOJ at a very high level- he told Vincent Cable this in reply to a leter from him expressing the Liberal Democrat's concerns over the reputation of UK industry. The DOJ is said to be focusing on whether they have jurisdiction over payments alleged to have been made to win defence contracts from Saudi ARabia and other foreign governments, invloving at least South Africa, Chile, Romania, Tanzania, Qatar and the Czech Republic.

President Bush’s Corporate Fraud Task Force, which is operated by the DoJ, are said to be fascinated by a company called Red Diamond, a British Virgin Islands company,which is related to BAE Systems.

The key concern is that if money or communications to transfer funds from Red Diamond entered US jurisdiction, even in the form of electronic data, then in theory under the Foreign Corrupt Practices Act BAE could be pursued by the DOJ.

Vince Cable, the Deputy Leader of the Liberal Democrats, one of the few businessmen in the House of Commons with experience in this area asks “How can we allow an operation like Red Diamond to be hidden offshore, given the concerns about money laundering and corrupt practices?”

At Mid-day BAE shares were down 3.5 p on the day (0.8%).

For more see Lord Patel
Thursday, November 16, 2006
Aiding Africa - Tony, Barclays and BAE - a curious tale of President Kikwete and kickbacks

The accompanying picture shows the BAE Hawk Trainer with air to air missiles. AS sold to India and especially South Africa - sales which make a fascinating tale.


Tom said...

"It must have been worth while having a mere ordinary plague now and then in London to get rid of both the lawyers and the Parliament."
'Three Men in a Boat', Jerome K Jerome

Tom said...

"If a man stopped me in the street and demanded of me my watch, I should refuse to give it to him. If he threatened to take it by force, I feel I should, though not a fighting man, do my best to protect it. If, on the other hand, he should assert his intention of trying to obtain it by means of an action in any court of law, I should take it out of my pocket and hand it to him, and think I had got off cheaply."

Never was a truer word said about lawyers. Jerome K Jerome, again.

Anonymous said...

If Abu Gonzales' DOJ pursues it, it is to take business away from BAE, not to clean up corruption.

(C) Very Seriously Disorganised Criminals 2002/3/4/5/6/7/8/9 - copy anything you wish