Thursday, February 17, 2011

Singapore's Lee Kuan Yew and Egypt's Mubarak

Ladies and Gentlemen,

It is reported in the news that the Swiss government has frozen the recently overthrown Egyptian President Mubarak billions held there. Egypt has begun a probe to locate around the world the booty that he has stacked away and have them frozen and returned to Egypt as the proceeds of corruption and theft.

Singapore's Lee Kuan Yew has not yet been overthrown and we do not know if he will. But we know that he, just as Mubarak, has amassed through corruption a vast fortune, as well as his family members. It is also rumoured that Lee Kuan Yew's fortune far exceeds that of Bill Gates and is supposed to exceed $80 billion.

Question now is, when he dies, and if his son whom he placed as the Prime Minister is booted out as many suspect he would, would the new Singapore go after his assets worldwide and put these men and women who have profited from corruption at the expanse of the average Singaporean on trial for corruption and embezzlement.

Any way you look at it, his paying himself $3.7 million is theft. We also know that he siphons off far more than that secretly which is why he is not prepared to disclose the accounting of the state wealth fund GIC or Tumasek.

No self respecting Singaporean should allow these cronies and lackeys with their billions in ill gotten gains to get away. Their time has to come too.

Gopalan Nair
Attorney at Law
39737 Paseo Padre Parkway, Suite A1
Fremont, CA 94538, USA
Tel: 510 657 6107
Fax: 510 657 6914

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mycroft said...

It would be indeed astounding if the old tin-pot were not a billionaire several times over. Fifty years of a stranglehold by Lee & Lee (his family law firm run by his wife and brother) on conveyancing fees for HDB flats alone would have landed him riches far beyond the dreams of avarice. But apparently not enough to graciously waive aside the taxpayer-funded scholarships used to educate all his children, about $800,000 a pop. Enough is never enough, is it?

In any other democracy, eyebrows would have shot skyward and newspapers headlines would be baying for blood if the PM's own law firm was found to have a financial interest in the government-controlled HDB cookie jar but not in Lee's little acre. Gross conflict of interest? What's that all about then?

"Well, we don't collect all that much in estate (death) duty anyway, so why don't we just abolish it?" declared finance minister Tharman in Paliament not long ago. Did the Members rise to question him closely on the issue of redistribution of wealth which is one of the reasons used to justify this tax? What do you think? And so it came to pass.

Of course with probate no longer needing to be filed, no one need ever know the truth of what Lee & Lee's main shareholder's true worth was in monetary terms when it came time to meet her Maker not long after. Must have been sheer coincidence. Darn it, some beneficiaries have all the luck. HK's richest tycoon, Li Ka Shing, was once asked if he was East Asia's richest man and he was reputed to have said no, there was one other person wealthier than even he. I wonder who that might be?

Anonymous said...

I told a friend from taiwan how many our Mr Lee "earn" a year. He was so shocked and said that the corrupted government of his doesn't even dare to "take" so much money openly.

President Ma earn only 1/10 of Mr Lee's salary.

Anonymous said...

I agree with mycroft on the timing of estate duty abolishment. The Lee family, controlling vast power and Singapore's fortune, must have accumulated significant asset. The country's massive reserve is unknown to even the former president, Ong Teng Cheong.

Anonymous said...

Let me confide you guys on the first familys wealth.
Lets just say its mind bongling and would put Mubarak to shame for being so lax in his accumulation of wealth.

Anonymous said...

The MM does not hold key positions of power anymore. Otherwise the PM would not have pointed out that his views on Malay integration were not representative of the government at large. Practically all the comments posted in this website are on your side of the argument, Mr Nair. Do you censor your your own blog?

Gopalan Nair said...

To Anonymous Feb 22, 0735,

Do you take us all for a bunch of fools! Just because your master Lee Kuan Yew does not hold any official positions, do you expect us to believe that he is not running Singapore! You must either be a 10 year old kid, plain silly, or think we are all a bunch of idiots! I am sorry to disappoint you, but we know it is other wise. If Hitler had suddenly relinquished all his posts, he would still be Hitler. I think so.

Anonymous said...

" The MM does not hold key positions of power anymore."

What a stupid commenter. The fact that the old fart can say anything he like and wish publicly and still get away with it 100% every time show how much power he has as emperor of SINcity. Even his retarded sissy can't do anything with him.

"Lee Kuan Yew does not hold any official positions"

Old fart doesn't need to hold any official positions as whose know what Minister Mentor means anyway in kangaroo gov ? It could be tantamount to that of Emperor title.

Get it ?

Lee Ka Yu said...

Lee Kuan Yew is a conceited old fool who thinks he owns Singapore, the little coward hides behind his party of corrupt judges in his kangaroo court.