Keep us a strong and independent voice for global justice: contribute today! Dubai based Millennium Finance Corporation investment bank unethical and out of cash, 4 Aug 2009From WikileaksJump to: navigation, searchUnless otherwise specified the document described here: Was first publicly revealed by Wikileaks working with our source.At that time was classified, confidential, censored or otherwise withheld from the public.Is of political, diplomatic, ethical or historical significance.Any questions about this document's veracity are noted. The summary is approved by the editorial board. Follow updates:Email address: RSS feed Twitter Secure talk join our chat.To sponsor reportage of this document by mainstream journalists submit a targeted donation.For press inquiries, see our media kit.If you have similar or updated material ACT NOW.For an explanation of the page you are looking at please look here.August 4, 2009SummaryThis 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.Contentsdetails-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.pdfDOWNLOAD/VIEW FULL FILE FROMfastest (Sweden), current site, slow (US), Finland, Netherlands, Poland, Tonga, Europe, SSL, Tor ContextUnited Arab Emirates Company Millennium Finance Corporation Primary languageEnglishFile size in bytes2183534File type informationZip archive data, at least v1.0 to extractCryptographic identitySHA256 042325fe881d632e7d3b69ef98aa380722c2183fb2206e1c36f4b4217c435f72Know something about this material? Have your say!(see other comments first) 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 EnglishViewsArticlediscussView sourceHistoryPersonal toolsLog in / create accountMain PageMain Page (secure)Country indexAboutContact usMedia KitWriter's KitDonateHelpLive ChatSUBMIT DOCUMENTSSearchToolboxWhat links hereRelated changesUpload fileSpecial pagesPrintable versionPermanent link Keep us