The idea for a self-funded reward platform was inspired by Jho Low who is also a Malaysian was seen to be able to come and go as he pleased. It is embarrasing to say that catching him is like a lottery game or is it ? We all know that information is critical to arrest anyone, and only by analysing information can we able to predict or determine his whereabouts. His crimes allegedly committed are clearly outlined by the Dept of Justice's complaint . The users of this system can purchase the tokens vide the buy button below using ETH which will pay out this tokens "1mdb" immediately. The smartcontract will collect all the funds in ETH and the FIRST token submitted with the information leading to the arrest of a wanted person will win the pool of ETHS. Information must be accurate and precise, it is silly to say so and so is in China, location and time must be given to an accuracy where the officers would be able to arrest the wanted person. No arrest no bounty. Of course, you will not win the pool if the information is provided after the event. If there is no winner, the pool of ETHS will be channelled to another criminal on the run to be decided later by token holders. Each token will be burned after used. There is no whitepaper here as it is not brainy to design such a system but to design a really good one, will take a bit of time which is why we have allocated 20% of the pool ETHs to work on this.
Click to purchaseTotal Raised will be USD 5 mio (max) with minimum USD 100K. Number of Token will be 10 mio 1 ETH will buy 1000 1mdb tokens Total ETH will be 10000 (USD 500 as at 11 April 2018) Start Date 11 April to 8 OCT 2018. Tokens will be used for voting who is the "wanted person" and for sending information about the location and leading to the arrest of this wanted person. There is no circle of elders and any user can submit his or her own wanted person which is then voted. Our idea for this public wanted person reward platform was inspired by Jho Low, who we believe is still on the run. Jho Low is the youngest of the three children of Low Hock Peng. He was born in George Town, Penang, on Nov 4, 1981. He studied at SJK (C) Union, Chung Ling High School, International School of Penang (Uplands) and Harrow School in London. He did his undergraduate studies and obtained a Master's Degree in Business Administration at Wharton Business School in the United States. His official name is Low Taek Jho. Low is his surname or family name. Low is accused of corruption, bribery and money laundering by law enforcement agencies in several countries in connection with the 1Malaysia Development Bhd financial scandal.
Click to purchaseKhai Kwan (Lawyer/coder). The Funds will be 75% in cash and placed in a trust account (with law firm to be decided) and balance in Blockchain ETFs (eg BLCN or similar). The funds raised will be 20% for running this operation, 10% for development of anonymous-bounty-reward based block-chain, 70% for reward payout.
Sponsored by Khkwan.comOld News - he has been in hiding
JAKARTA (REUTERS) - Indonesia on Wednesday (Feb 28) seized a luxury yacht on the island of Bali sought by the United States Department of Justice (DOJ) as part of a multi-billion dollar corruption investigation linked to Malaysian state fund 1Malaysia Development Berhad (1MDB).
1Malaysia Development Bhd said today it cannot claim the 104 million Swiss francs (RM430 million) that Swiss lawmakers are deliberating returning to the rightful owners simply because the money does not belong to it or even the government of Malaysia.
PETALING JAYA: Malaysian NGOs are working with Swiss parliamentarians to get back funds believed stolen from 1MDB and now frozen in Switzerland. Led by Center to Combat Cronyism and Corruption (C4), Bersih 2.0 and Global Bersih, they have proposed that the funds be returned via a trust fund modelled after the Bota Foundation in Kazakhstan.
The Ministry of Finance (MOF) has refuted allegations made by opposition leader Lim Kit Siang in his letter to 154 Swiss MPs alleging that 1MDB's assets have been misappropriated. “1MDB has informed the MOF that any allegations of its assets being embezzled or misappropriated, either domestically or overseas, were simply not true and politically motivated,” it said.
1MDB has clarified that it does not claim ownership over the CHF104 million (RM430 million) seized by Swiss authorities. Instead, 1MDB claimed the seizure revolved around a dispute between Swiss banks and the Swiss government. "According to the Swiss Finance Minister Ueli Maurer, the relevant banks have disputed the actions of Swiss Financial Market Supervisory Authority (Finma) and are appealing the action in the Federal Administration Court.
SWISS lawmakers today voted against repatriating CHF104 million (RM430 million) allegedly stolen from state investor 1Malaysia Development Bhd (1MDB). Social Democratic Party of Switzerland international secretary Peter Hug said the National Council has rejected the motion from MP Carlo Sommaruga. SDP said 53 voted in favour while 138 votes against returning the funds. There were no abstention..
The Swiss parliamentary's motion to repatriate CHF104 million (RM430 million) in funds allegedly linked to 1MDB was rejected on 15 March 2018. One of the reason was on going appeal case by the banks involved. What is not known to many is that the Swiss National Bank held its benchmark interest rate at -0.75% (that is negative 0.75% pa). This means based on CHF104 million, at least CHF 1 million is deducted as interest each year which is a windfall to the Swiss Treasury as long as the funds are kept in an account waiting to be decided by the Court or Parliament. There is nothing to stop the Government (Treasury) to forgive this interest charge or to apply it for the benefit of the Malaysian taxpayers who indirectly still have to fork out interest costs for the bonds raised by 1mdb through GS where the later made close to half a billion in fees. We do not know when the Banks' appeals would be exhausted but time is not in our favour. For example, 1MDB Global Investments Ltd and 1MDB Energy Ltd would mature in September 2023 and May 2022 respectively. If these funds are not claimable, Malaysia will need to raise more funds again to refinance/redeem them.
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