"In a letter to German Chancellor Angela Merkel, three NGOs from Germany and Switzerland are complaining about Deutsche Bank’s close business ties with Abdul Taib Mahmud (“Taib”), the Chief Minister of the Malaysian state of Sarawak and one of South East Asia’s leading kleptocrats. The Swiss Bruno Manser Fund, the Society for Threatened Peoples and Rettet den Regenwald, a Hamburg-based rainforest advocacy group, are asking the German government to clarify Deutsche Bank’s business ties with Taib and to
- freeze all Taib assets in Germany.
“We are seriously concerned that, as a leading German financial institute, Deutsche Bank is closely cooperating with the highly corrupt and internationally discredited Taib regime”, the NGOs wrote to Merkel. “We feel that this cooperation cannot be in the interest of the German government, which is globally promoting the effective combating of corruption.”
Deutsche Bank has repeatedly conducted important business transactions for the Sarawak government, in which Taib Mahmud is simultaneously head of state, finance minister and also minister of state planning and resources. In 2005, Deutsche Bank was the sole bookrunner for the US$ 600 million listing of Sarawak International Incorporated in Labuan, Malaysia’s offshore financial centre. Before December 2004, Deutsche Bank arranged a US$ 135 million loan for the Sarawak Economic Development Corporation (SEDC), a
- state body controlled by Taib Mahmud.
Deutsche Bank International’s Jersey and Cayman branches are administering the Jersey-based Sogo Holdings Ltd., through which several illicit Taib family assets
- in the US are held.
In Malaysia, Deutsche Bank is running joint ventures with Cahya Mata Sarawak (CMS), the Taib family’s business flagship, under the names of K & N Kenanga Holdings and Kenanga Deutsche Futures.
Deutsche Bank is Germany’s largest bank and one of the world’s leading financial institutions. The bank left unanswered several written requests by the Society for Threatened Peoples to explain its business ties with Taib. The Malaysian politician is the main culprit behind the destruction
Earlier this month, the Malaysian Anti Corruption Commission (MACC) confirmed it was investigating Taib for corruption. In May 2011, the Swiss Financial Markets Supervisory Authority, FINMA, announced a probe
- into suspected
Deutsche Bank raided in $238 million in carbon trading tax fraud, funds were supposed to 'tackle' global warming.
4/28/10, "Deutsche Bank, RWE raided in German probe of CO2 tax," Bloomberg, Carr and Matussek
Deutsche Bank 'cares'
With enough money you can make people believe you 'care' when you're really a mass murderer in a crime organization.- MIT must 'care,' it says this is a bold, new way of "communicating climate science to the public."
- (Google has over 29,000 entries for Deutsche Bank's carbon trading investments).
UN Climate Chief is on the Bank's 'Climate Change Advisory Board':
11/14/2008, "Climate protection: Deutsche Bank set to neutralize its carbon footprint by 2012," DB press release
"Deutsche Bank Climate Change Advisory Board
Lord Browne, Managing Director and Managing Partner (Europe) of Riverstone Holdings LLC and former CEO of BP
John Coomber, Member of the Board of Directors Swiss Re and Chairman of The Climate Group, UK
Fabio Feldmann, CEO, Fabio Feldmann Consultores and former Executive Secretary, Brazilian Forum on Climate Change
Amory B. Lovins, Chairman and CEO of Rocky Mountain Institute
Lord Oxburgh, Member of the Advisory Board Climate Change Capital and Former Chairman Shell, UK
Dr. R K Pachauri, Chairman of IPCC
Professor Hans Joachim Schellnhuber CBE, Director of Potsdam Institute for Climate Impact Research (PIK)
Robert Socolow, Co-Director The Carbon Mitigation Initiative and Professor Princeton University
Klaus Töpfer, Former Minister for Environment
Zhang Hongren, Former President International Union of Geological Science and former Vice Minister of Geology and Mineral Resources"
photo from Reuters article
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