Posted on 10/08/2001 6:21:17 AM PDT by harpseal
It's clear they did not believe the death to be the aberrant act of a "lone nut", but that they felt their royal arses in danger.
Monagasques are forbidden to discuss the death of Edmond Safra, so must content themselves with (per Profonde Gorge) the latest scandal of Stephanie.
See also Jagger, Mick: "All the stars and the bars and the little white cars". . . .
Also, FReepers, PLEASE SEE #97.
How about sending Mayor Rudolph W. Giuliani some info about Ted via fax (I couldn't find an e-mail address), so, he is aware that on the one hand Monaco is giving New York money to innocent victims and their families, but, on the other hand, MONACO, itself, is holding unjustly FOR NEARLY TWO YEARS, an innocent victim, American TED MAHER, and keeping Ted and HIS family apart!
A free fax can be sent via www.zipfax.com (scroll down aways to send faxes.)
Mayor Rudolph W. Giuliani
FAX #: 12127887476 (no spaces)
If you'd like to call and leave a message for Mayor Giuliani: Phone 1(212)788-9600
Thank you.
MONACO: FREE TED NOW! LET TED COME HOME TO HIS FAMILY!!!
The men of the Special Forces are masters of their profession,
the profession of arms.
Theirs is more than a job or an occupation.
It is a way of life that requires
a personal commitment found nowhere
else in society. Its obligation is
dedication...it's demands, duty and
loyalty...it's principle, integrity
...and its reward, personal satisfaction.
Their countrymen see them as the
epitome of the American fighting man.
Their badge of distinction is the
Green Beret known and respected worldwide.
They wear it proudly!
MONACO: FREE TED NOW!!!
FReepers, please see #124. Thank you.
Ted defended America's freedom as a Green Beret. FReepers and FRiends, please take a moment of your time to send a message to help Ted regain HIS freedom. Thank you.
See above for info.
Good idea !!
Financial Mail on Sunday
October 21, 2001
Death in Monaco,
a 'fake' confession
and the f 6.7 billion
deal that haunts
HSBC to this day
By Simon Fluendy
This was a conspiracy theorist's delight. A 68-year old multibillionaire banker died in a mysterious fire at his penthouse in Monaco, home of choice for Europe's rich tax-avoiders in search of an agreeably sunny climate.
The death came just days before the completion of a f 6.7 billion deal to sell this eccentric individual's banks to one of the world's biggest financial groups.
And the strange circumstances of the fire sparked a welter of theories. A favorite was that he was being punished by Russian Mafia bosses for revealing details of money-laundering to US authorities.
The whole affair stank, said those looking for a good story. There were just too many unanswered questions. For example:
. Why did almost an hour elapse from the alarm being raised to the fire being tackled?
. Why had the Mossad-trained bodyguards who looked after this recluse - someone who always wore a blue stone around his neck to ward off evil- been sent away for the night?
. Why had the man changed his will just a week before the fire?
. And why, when the head of the bodyguards eventually turned up, was he handcuffed by police rather than being asked for the keys to the smouldering apartment?
The questions were intriguing, the theories tantalisingly colourful. But soon, the mystery of the old man's death appeared to be solved. His male nurse confessed in hospital to stabbing himself in the stomach and lighting a fire in the penthouse apartment so he could rescue his boss and appear a hero.
The wealthy 68-year old who died was Edmond Safra. The nurse who apparently confessed to the crime was Ted Maher.
The businesses changing hands were Safra Bank and Republic Bank of New York. And the group that agreed to pay f 6.7 billion for the operation was HSBC, shouldering its way into the world of private banking, managing the wealth of the superrich.
But even now, nearly two years on from the fire and from HSBC's deal, questions still hang in the air - questions about Safra's death and about the business that HSBC bought. Safra's brothers Joseph and Moishe - also involved in banking - are demanding that the case be reopened. And there are others who, despite the confession, doubt Maher's guilt.
Father Fred Preston, a former SAS chaplain who met Maher, an ex-U.S. Special Forces medic, in a Monaco jail while working in the principality, is convinced the confession is false. According to Preston, Maher has said he wants to retract it.
Preston believes that the authorities are happy to see Maher blamed because they want to cover up failings by police and fire services.
Pinning responsibility on Maher also helps maintain confidence in the principality's reputation for security for its thousands of superrich expatriate residents.
'Maher's confession was forced while he believed his wife and children were under threat,' said Preston. 'He has been held without specific charge for 22 months. There are so many strange things about the case. They have just jumped on him as the easiest suspect.'
Maher and his wife are being represented by New York lawyer Michael Griffith, who decades ago worked for Billy Hayes, the central character in the story that inspired the film Midnight Express, about an American held prisoner in Turkey.
Griffith believes there is no chance of having Maher's confession revoked and he is working on a mitigation plea that might earn Maher only a short sentence.
Further intervention has now come from an unexpected quarter. Maher's trial for allegedly starting the fire is due to start next month but Safra's brothers have demanded a reopening of the case.
While the wrangling over Safra's death continues, Republic itself has brought a string of problems for HSBC. Last month, the bank's manager in Monaco, Stephen Troth, 40, was charged with fraud after allegedly confessing that he helped himself to client's funds.
Troth, who joined HSBC with the takeover of Safra's banks, headed a new division targeting superrich sports stars and media personalities. His clients included Formula One ace Michael Schumacher and other top racing drivers.
Clive Bannister, head of private banking at HSBC, maintains that Troth's alleged crimes will have minimal impact on the group.
'Trothy is just one person in a private banking organization employing 3,500 people - 97 in Monaco alone,' he said. 'Since buying Safra and Republic, we have lost almost no clients, which is pretty amazing in a very competitive business.'
But Troth's alleged dishonesty is only one of the problems that HSBC faces with its new corporate offspring. Some customers of the bank have reported a string of errors, mis-selling and mismanagement.
One pair of British entrepreneurs have told Financial Mail of 'an absolute nightmare' with Republic, with trouble dating back to before the HSBC takeover.
One of them said: 'In 1998, we were buying a house in France close to Monaco and the lawyer introduced us to Troth, so we could set up an account to hold the cash until the deal went through.
'We planned to buy with cash but he persuaded us that it would be better to take out a mortgage and let him invest the money - he promised returns of over 13 per cent a year.'
But though Troth charmed the retired entrepreneurs, he and Republic failed to deliver.
The client told Financial Mail: 'First, he just sat on the money. Investments never delivered anything like the returns promised and the statements we received were a total mess.'
The takeover by HSBC also failed to help. The man said: 'HSBC simply kept sending us back to Troth and his boss Gerrard Cohen. Eventually, they told us to get our lawyers to write - and after we did, they refused to talk to us at all. Registered letters sent to HSBC chairman John Bond have been ignored.'
At one point, almost f 500,000 went missing from their account. The client said: 'When we eventually got to see Troth, he tutted and very calmly said he would put it right - which he did, right before our eyes, using the computer on his desk. I was astonished.'
Bannister said he was concerned by the allegations and said the entrepreneurs should have received a personal letter from Bond. 'He is absolutely punctilious about such matters,' he said.
The City is also concerned about HSBC's strategy. Ed Firth, banking analyst at Credit Lyonnais Securities, said: 'I'd say HSBC paid way too much for Republic and Safra'.
And analysts are worried about staff. Richard Staite of SocGen Securities said: 'Private banking is a people business. You have to keep the best staff and they are very poachable these days.'
In HSBC's interim report this year, there is just one paragraph about Safra and Republic, noting that 'customer retention has been good in a highly competitive market'.
Bannister said the lack of detail was hardly surprising in a business concerned with privacy. He said: 'The industry has been affected by market trends but client numbers have been extraordinarily good and we have lost almost no staff.'
But another worry is that a rival bank run by Edmond Safra's brother Joseph may be attracting an influx of the best clients.
One Monaco financier said: 'The real cream banked with Safra because it was a Safra running it. He was the most discreet banker in the world and the only man they would trust. With him gone, Joseph may look a better bet than a multinational based in Britain.
'Who knows? The Safra affair presses every button in Monaco - lots of money, secrecy, suspicious deaths and lots more money. I doubt if the full story will emerge before Judgment Day.'
MONACO: FREE TED NOW!
(CNN's Larry King too!)
:-(
(for CNN's Larry King too!)
:-(
(for CNN's Larry King too!)
:-(
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