UPDATED: The $2.25 billion dollar reason for the mysterious plane disappearances: Insurance Scam 101
Thank you for the recent feedback. Many of you have told me to
keep digging, so I appreciate the motivation. So far we've only drummed
up suspicion, but we need to find real motivation and connections. I
have continued to edit and update as new information becomes available.
Additional research has lead to more answers, but even more questions.
Open discussion and research is encouraged. All references are linked
down below.
Edited Post: http://www.godlikeproductions.com/forum1/message2760207/pg1
I’ve been in the insurance industry for a number of years, and I’m becoming very suspicious that the recent events with Malaysian Air might be the result of a giant insurance and financial scam. The recent AirAsia mystery raises additional red flags and links collaborating parties that reach the highest branches of government. I believe there was the means (companies and some real shady people) and motive (money and political elections) to do so. WARNING: THIS GETS REAL DIRTY FOLKS. Let’s look at some of the facts outlined by recent financial articles:
AirAsia (AA) was founded in 1994 by the Malaysian government-owned conglomerate, DRB-Hicom. By the middle of 2001, the airliner was about 11 million dollars in debt and had only 2 Boeing 737-300 on the books. On September 8th, 2001, former Time Warner Executive, Tony Fernandes, bought the struggling airliner for 29 cents from DRB-Hicom, which was brokered by then Malaysian Prime Minster, Dr. Mahathir bin Mohamad. Great timing Mr. Fernandes! I'm sure it would have been an even bigger liability 3 days later. ; ). Mr. Fernandes has also stated his "timing was in fact perfect": After September 11th, aircraft leasing costs fell 40% and airline lay-offs meant experienced staff were readily available. JACKPOT!
Malaysia Airlines (MA) is owned partially by their national government (69%). To be more specific, MA is owned by the parent company, Malaysian Airline Systems (MAS), which is owned by the government’s sovereign wealth fund, Khazanah Nasional. To an outside observer, hasn't the governments response seemed odd? The media has inundated the public with many conflicting news reports and narratives, and an honest investigation is being stonewalled. Even the Chinese government has expressed doubts.
Malaysia Airlines (MA) was founded in 1972 (really was a creation from another company, which started in 1947). The airliner had been very profitable until the year 1994. In 1994, Malaysian Prime Minster, Dr. Mahathir bin Mohamad, (Yes, the same PM that helped Tony Fernandes in 2001) named one of his goons, named Tajudin Ramli, as Chairman of MAS. In 1994, MAS had RM600 million in cash reserves (can someone covert that to dollars), but when Mr. Ramli left in 2001, it was running a RM8 billion deficit. That deficit was not due to poor business practices by Mr. Ramli, but rather, through financial plundering and looting the purse. Mr. Ramli was a true crook. After he was removed, the airliner had it's up and downs in the mid-2000s, but starting around 2010-2011, the airliner was losing money, and “In 2013, Malaysia Airlines was one of the world’s few unprofitable carriers”. Ok, so we've learned MAS is basically a government slush fund.
MA and AirAsia share a history in that both are or have been state sponsored corporations. Their stories officially cross path in again in 2011, where a stock swap and "Collaboration Agreement" was brokered by CIMB (a universal bank headquartered in Kuala Lumpur, Malaysia) and Former Malaysian Prime Minister, Dr. Mahathir bin Mohamad (Him again? He helped Mr. Fernandes seal that deal on September 8th, 2001 with AirAsia and put his goon, Ramli, as Chairman of MAS). However, there were large protests from labor unions and the deal didn't go through. However, there is still some evidence the airliners are financially tied through other business relationships..more on this to come...
According to industry representatives and Bloomberg, Malaysia Airlines had a "higher than normal" broad liability insurance policy, through Allianz of Germany, which is the world's third largest insurer. The limits went up to $2.25 billion for each crash! Willis Group Holdings was the broker for the policy. Willis Group Holdings has been convicted of numerous criminal acts in the past, including the involvement with the 7 billion dollar ponzi scheme through Stanford Financial Group's. However, did you also know that Allianz was one of the insurers for the World Trade Towers, with Willis Group Holdings as the broker, that paid out Larry Silverstein $4.55 billion on the WTC!
Malaysian Airlines also had a separate "war risk" policy written by the Atrium Underwriting Group, which was immediately paid out for Flight 17, due to the Ukrainian disaster. There are unconfirmed reports that the plane had been insured for over $97 million dollars.
Seems bad for the insurance company, Allianz? Allianz is the 3rd largest insurer in the world and “Allianz itself has only 9 percent of the exposure, having shared the rest with other underwriters”. Also, the 370 claim was split up between the war risk policy and the broad liability policy because there wasn’t a definitive answer on what actually happened. Therefore, no pool of money was taking on the full burden of the loss. However, in the winter of 2014, AirAsia went down, which Allianz is also the insurer for!
The owner of AirAsia, Tony Fernandes, sold a high volume of shares of his travel insurance business days before the AirAsia plane disappearance. Gosh, Mr. Fernandes just has impeccable timing doesn't he!
Interesting note: the Malaysian Police Chief has not ruled out, and has publicly acknowledged that he's still looking looking at the possibility of insurance fraud.
OK, SO WHAT DOES THIS ALL MEAN? AND WHY IS THE $2.25 BILLION DOLLAR INSURANCE POLICY SO IMPORTANT? Well, maybe "they" need the funds to rescue a government backed airline from collapsing, or maybe it could go to certain corrupt individuals (within Malaysia's government, insurance decision makers, and/or airliner DMs) and they could care less about the financial strength of the airliners, or maybe they need an infusion because it's the governments slush fund for play money...all of these are possibilities and will be further investigated upon.
However, it's worth noting that MAS has been receiving bail-outs from the Malaysian government. Maybe they just print their money and it's not a huge deal (government cronies using cheap money buying assets at a lower stock price is never a bad thing, except to public opinion). However, maybe it's a huge deal because Malaysia can't print their own money..I don't know, so I'll get back to you on that one.
HOWEVER, SOMETHING THAT MADE MY HEART STOP..Did you know that the son of former PM, Dr. Mahathir bin Mohamad, ran for multiple government offices and has racked up a RM2.5billion (or over $700 million dollar debt). Could the family of the former PM, who basically robbed the airliners years earlier, who got their former TIME WARNER executive buddy to purchase an airliner on Sept 8th, 2001, possibly use the "higher liability" policy to pay off bad election debts? It's just another rabbit hole that we'll continue to explorer over the next few days...
Financial fraud is still on the table.
"The fumbling exposed an elite that’s never really had to face questioning from its people, never mind the rest of the world. The country needs nothing less than a political revolution,”- William Pesek, Bloomberg Columist, commenting on the handling of missing flight MH370.
MORE UPDATES TO COME
Resources: [link to www.businessweek.com]
[link to www.nytimes.com]
[link to finance.yahoo.com]
[link to centreforaviation.com]
[link to 911research.wtc7.net]
[link to timesofindia.indiatimes.com]
[link to www.mirror.co.uk]
[link to www.law360.com]
[link to www.airspacemag.com]
[link to www.tindakmalaysia.com]
[link to econ3.upm.edu.my]
Edited Post: http://www.godlikeproductions.com/forum1/message2760207/pg1
I’ve been in the insurance industry for a number of years, and I’m becoming very suspicious that the recent events with Malaysian Air might be the result of a giant insurance and financial scam. The recent AirAsia mystery raises additional red flags and links collaborating parties that reach the highest branches of government. I believe there was the means (companies and some real shady people) and motive (money and political elections) to do so. WARNING: THIS GETS REAL DIRTY FOLKS. Let’s look at some of the facts outlined by recent financial articles:
AirAsia (AA) was founded in 1994 by the Malaysian government-owned conglomerate, DRB-Hicom. By the middle of 2001, the airliner was about 11 million dollars in debt and had only 2 Boeing 737-300 on the books. On September 8th, 2001, former Time Warner Executive, Tony Fernandes, bought the struggling airliner for 29 cents from DRB-Hicom, which was brokered by then Malaysian Prime Minster, Dr. Mahathir bin Mohamad. Great timing Mr. Fernandes! I'm sure it would have been an even bigger liability 3 days later. ; ). Mr. Fernandes has also stated his "timing was in fact perfect": After September 11th, aircraft leasing costs fell 40% and airline lay-offs meant experienced staff were readily available. JACKPOT!
Malaysia Airlines (MA) is owned partially by their national government (69%). To be more specific, MA is owned by the parent company, Malaysian Airline Systems (MAS), which is owned by the government’s sovereign wealth fund, Khazanah Nasional. To an outside observer, hasn't the governments response seemed odd? The media has inundated the public with many conflicting news reports and narratives, and an honest investigation is being stonewalled. Even the Chinese government has expressed doubts.
Malaysia Airlines (MA) was founded in 1972 (really was a creation from another company, which started in 1947). The airliner had been very profitable until the year 1994. In 1994, Malaysian Prime Minster, Dr. Mahathir bin Mohamad, (Yes, the same PM that helped Tony Fernandes in 2001) named one of his goons, named Tajudin Ramli, as Chairman of MAS. In 1994, MAS had RM600 million in cash reserves (can someone covert that to dollars), but when Mr. Ramli left in 2001, it was running a RM8 billion deficit. That deficit was not due to poor business practices by Mr. Ramli, but rather, through financial plundering and looting the purse. Mr. Ramli was a true crook. After he was removed, the airliner had it's up and downs in the mid-2000s, but starting around 2010-2011, the airliner was losing money, and “In 2013, Malaysia Airlines was one of the world’s few unprofitable carriers”. Ok, so we've learned MAS is basically a government slush fund.
MA and AirAsia share a history in that both are or have been state sponsored corporations. Their stories officially cross path in again in 2011, where a stock swap and "Collaboration Agreement" was brokered by CIMB (a universal bank headquartered in Kuala Lumpur, Malaysia) and Former Malaysian Prime Minister, Dr. Mahathir bin Mohamad (Him again? He helped Mr. Fernandes seal that deal on September 8th, 2001 with AirAsia and put his goon, Ramli, as Chairman of MAS). However, there were large protests from labor unions and the deal didn't go through. However, there is still some evidence the airliners are financially tied through other business relationships..more on this to come...
According to industry representatives and Bloomberg, Malaysia Airlines had a "higher than normal" broad liability insurance policy, through Allianz of Germany, which is the world's third largest insurer. The limits went up to $2.25 billion for each crash! Willis Group Holdings was the broker for the policy. Willis Group Holdings has been convicted of numerous criminal acts in the past, including the involvement with the 7 billion dollar ponzi scheme through Stanford Financial Group's. However, did you also know that Allianz was one of the insurers for the World Trade Towers, with Willis Group Holdings as the broker, that paid out Larry Silverstein $4.55 billion on the WTC!
Malaysian Airlines also had a separate "war risk" policy written by the Atrium Underwriting Group, which was immediately paid out for Flight 17, due to the Ukrainian disaster. There are unconfirmed reports that the plane had been insured for over $97 million dollars.
Seems bad for the insurance company, Allianz? Allianz is the 3rd largest insurer in the world and “Allianz itself has only 9 percent of the exposure, having shared the rest with other underwriters”. Also, the 370 claim was split up between the war risk policy and the broad liability policy because there wasn’t a definitive answer on what actually happened. Therefore, no pool of money was taking on the full burden of the loss. However, in the winter of 2014, AirAsia went down, which Allianz is also the insurer for!
The owner of AirAsia, Tony Fernandes, sold a high volume of shares of his travel insurance business days before the AirAsia plane disappearance. Gosh, Mr. Fernandes just has impeccable timing doesn't he!
Interesting note: the Malaysian Police Chief has not ruled out, and has publicly acknowledged that he's still looking looking at the possibility of insurance fraud.
OK, SO WHAT DOES THIS ALL MEAN? AND WHY IS THE $2.25 BILLION DOLLAR INSURANCE POLICY SO IMPORTANT? Well, maybe "they" need the funds to rescue a government backed airline from collapsing, or maybe it could go to certain corrupt individuals (within Malaysia's government, insurance decision makers, and/or airliner DMs) and they could care less about the financial strength of the airliners, or maybe they need an infusion because it's the governments slush fund for play money...all of these are possibilities and will be further investigated upon.
However, it's worth noting that MAS has been receiving bail-outs from the Malaysian government. Maybe they just print their money and it's not a huge deal (government cronies using cheap money buying assets at a lower stock price is never a bad thing, except to public opinion). However, maybe it's a huge deal because Malaysia can't print their own money..I don't know, so I'll get back to you on that one.
HOWEVER, SOMETHING THAT MADE MY HEART STOP..Did you know that the son of former PM, Dr. Mahathir bin Mohamad, ran for multiple government offices and has racked up a RM2.5billion (or over $700 million dollar debt). Could the family of the former PM, who basically robbed the airliners years earlier, who got their former TIME WARNER executive buddy to purchase an airliner on Sept 8th, 2001, possibly use the "higher liability" policy to pay off bad election debts? It's just another rabbit hole that we'll continue to explorer over the next few days...
Financial fraud is still on the table.
"The fumbling exposed an elite that’s never really had to face questioning from its people, never mind the rest of the world. The country needs nothing less than a political revolution,”- William Pesek, Bloomberg Columist, commenting on the handling of missing flight MH370.
MORE UPDATES TO COME
Resources: [link to www.businessweek.com]
[link to www.nytimes.com]
[link to finance.yahoo.com]
[link to centreforaviation.com]
[link to 911research.wtc7.net]
[link to timesofindia.indiatimes.com]
[link to www.mirror.co.uk]
[link to www.law360.com]
[link to www.airspacemag.com]
[link to www.tindakmalaysia.com]
[link to econ3.upm.edu.my]
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