ESTADO UNIDO UTILIZA BANCO EM DUBAI PARA LAVAR REMESSA NO IRAQUE
Autor: JORNALSOLANEA-PB | Publicado: 2010-12-22T14:31:00-08:00

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Dubai based Millennium Finance Corporation investment bank unethical and out of cash, 4 Aug 2009

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August 4, 2009

Summary



This archive contains information on alleged financial irregularity and potential bankruptcy at Millennium Finance Corporation ("MFC"), a subsidiary of Dubai Islamic Bank ("DIB") and Kuwait Projects Company ("KIPCO"). 



MFC is a Dubai based Investment Bank with Millennium Private Equity as its wholly owned subsidiary. 



MFC is 33.3% owned by DIB, 33.3% owned by KIPCO and 33.3% owned by AFA. 



AFA is a private offshore company, which is 70% owned by Keba Keinde and 30% owned by Alex Makarov. 



Our source alleges that Keba Keinde (CEO), Alex Makarov (Managing Director), Izzet Gunney (Ex CEO of Millennium Private Equity), Sadjid (Head of Administration and Keba's deputy) are involved in wrong doings, including: 



Engaging in an irregular financial transaction with Lets Buy It Dot Com (LBIT): upon completion of the transaction, Keba paid himself and 5 others advance bonuses . 

1 day before 11 staff were laid off, Keba paid himself an advance bonus. 

Keba misused the firms finances (see cost rationalizations). 

NASD took action against Keba in 1999. 

See attachments; of interest are Cost Rationalizations + Advance Bonus + Details of Financial Irregularity + NASD Action + Keba's Airlink Bill. 



MFC has USD $550k of cash left. See MFC is out of cash. 

July staff salaries were not paid by the firm. Instead the salaries were paid as special one-time payments directly to some, but not all employees, by DIB and KIPCO. AFA members were those that were not paid. 

Unable to resolve shareholder dispute (75% majority needed) - the shareholders (66%) reinstated Keba on Aug 4th (See Keba Takes over on Aug 4th). 

Within two days of releasing these documents WikiLeaks received: Legal threat to WikiLeaks from investment bank Millennium Finance Corporation, 6 Aug 2009.

Contents



details-financial-irregularity.pdf 

dfsa-conversation.pdf 

keba-airlink-bill.pdf 

keba-taking-over-again-4th-august-2009.pdf 

mfc-advance-bonus.pdf 

mfc-cost-rationalizations.pdf 

mfc-out-of-cash.pdf 

nasd-action-against-keba.pdf 

verbiage.pdf

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Context

United Arab Emirates 

Company 

Millennium Finance Corporation 

Primary language



English

File size in bytes



2183534

File type information



Zip archive data, at least v1.0 to extract

Cryptographic identity



SHA256 042325fe881d632e7d3b69ef98aa380722c2183fb2206e1c36f4b4217c435f72











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Retrieved from "https://secure.wikileaks.org/wiki/Dubai_based_Millennium_Finance_Corporation_investment_bank_unethical_and_out_of_cash%2C_4_Aug_2009"

Categories: Leaked files 
2009 
2009-08 
Analysis requested 
United Arab Emirates 
Company 
Millennium Finance Corporation 
English

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