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MILGATE FILE: Aiyaz Sayed Khaiyum owns 99 of 100 shares in Midlife Investments Ltd so effectively he owns 99% of the ASSET; FICAC wrong to rule he owned nominal interest in MIL; Declaration reeks of criminality!

30/10/2015

28 Comments

 

THE MISSING MIDLIFE INVESTMENTS FILE: AIYAZ KHAIYUM OWNS IT!

Fijileaks: By declaring LOT 13 to be worth $80,000 in 2015, 9 years after he purchased it for $100,000 from Faiyaz Koya and three others, Aiyaz Khaiyum committed an offence under his own 
Political Parties (Registration, Conduct, Funding and Disclosures) Decree 2013

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15 March 2005:
Aiyaz Sayed Khaiyum (99 shares) and his mother Latifa Khaiyum (One share) formed Latifa Investments Ltd
31 May 2005: Particulars of mortgage: $284,000, Property Mortgaged, Lot 1 on DP 1280, Certificate of Title No 66993, with ANZ Bank
23 August 2006: Four months before Khaiyum suddenly bolted out of the blue as the interim Attorney-General and Minister for Justice, Latifa Investments secured a new mortgage of $675,000 on the same above land title with National Bank of Fiji (NBF), trading as Colonial National, Fiji
15 August 2006: Aiyaz Sayed Khaiyum (99 shares) and his mother Latifa (One share) formed Midlife Investments Ltd to facilitate the purchase of Lot 13 from Faiyaz Koya, Sahim Arif Khan, Mohammed Altaf and Anwar Hussein for $100,000 at Wailoaloa
29 August 2006: Faiyaz Koya and three others transferred LOT 13 to MIL for $100,000; in fact to "Mr 99 Per Cent MIL Director Khaiyum"
29 August 2006: MIL borrowed $80,000 from NBF trading as Colonial National Bank via
mortgage against Lot 13 at Wailoaloa
19 August 2008: The mortgage was discharged
24 February 2015: Under his Political Parties Decree Khaiyum declared his Income, Assets and Liabilities stating that he owned a plot of land (Lot 13) owned through MIL at Wailoaloa worth $80,000
16 October 2015: The Opposition Leader Ro Kepa filed a complaint with FICAC that Khaiyum had under declared the value of the land by $20,000 when it bought for $100,000
23 October 2015: FICAC ruled that Khaiyum overstated value of Lot 13 by $60,000 when he declared it was worth $80,000; he only had an equitable contribution of $20,000 in Lot 13, owned by MIL
QUESTION: Who owned MIL? We could not get the answers because the file had been missing from the ROC for several months but now we can reveal that MIL is owned by none other than AIYAZ SAYED KHAIYUM, who owns 99 shares and his mother LATIFA KHAIYUM owns the remaining ONE SHARE in MIL
FINDINGS:
(1) Aiyaz Khaiyum owns 99 per cent of the MIL for the past 9 years including its assets; he is also Company Secretary and Director;
(2) FICAC is WRONG to claim that Khaiyum’s interest in the asset is not the majority interest; in the Annual Returns of MIL for 2006 and 2007 the liability listed is $80,000, which is the amount borrowed by MIL from National Bank of Fiji T/A Colonial National Bank - Mortgage No 593803 on 29 August 2006, and discharged on 19 August 2008, No 708225;
(3) When Khaiyum declared Lot 13 as his asset, he owned 99 per cent of it through his equitable contribution of $20,000 and ownership of 99 per cent of the shares in MIL;

(4) Khaiyum and Midlife Investments Limited paid $100,000 for Lot 13 on 29 August 2006 and that is the value of the property and not the $80,000 he stated in his declaration;
(5) Khaiyum also failed to furnish information about his 99 shares in Latifa and all of these are required to declared by his own Political Parties (Registration, Conduct, Funding and Disclosures) Decree 2013; he merely stated the company was dormant and de-registration has been applied for (he didn't say when ROC was notified) - LIL file is missing and we have not seen a gazetted notice that it has been de-registered!

Fijileaks: By declaring LOT 13 to be worth $80,000 in 2015, 9 years after he purchased it for $100,000 from Faiyaz Koya and three others, Khaiyum committed an offence under his own Political Parties (Registration, Conduct, Funding and Disclosures) Decree 2013 and he must be held to ACCOUNT, and  either hauled to the QEH barracks or before the COURT! 

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THE MISSING (AND NOW FOUND) MIDLIFE INVESTMENTS LTD, OWNED 99 PER CENT BY AIYAZ SAYED KHAIYUM SINCE 15 AUGUST 2006:

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The Articles of Association (AoA) of Midlife Investments Limited (MIL):

On 15 August 2006 Aiyaz Khaiyum lodged the AoA with the Registrar of Companies. He gave his name and that of Volisa Lynda Elaisa of Lot 1, Nawanawa Rd, Suva, as the subscribers to the AoA. Their signatures were witnessed by Rohit Narayan (f/n Hari Narayan), a Senior Law Clerk, at Colonial National Bank. Basically, Khaiyum and Elaisa were listed as two directors of MIL. They gave their postal addresses as GPO Box 555, Suva.

Our earlier search of this address had led us to BDO Zarin Ltd, the address he had used to secretly buy the domain name FijiFirst in 2009, breaching his own PER decree. As Minister for Elections he was planning to use it in the election his side-kick Frank Bainimarama had promised he was going to hold in September 2009. We were able to confirm the link by examining the Latifa Investments Ltd file, a company in which Khaiyum held (holds?) 99 shares and his mother Latifa, held (holds?) one share. BDO is owned by his aunty Nur Bano Ali. LIL file is still missing from the ROC. In 2005, he had asked Lydia Elaisa, his legal secretary at Colonial, to witness the MoA of Latifa Investments Limited, in which he owned 99 shares and his mother had held one share.


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THE Change of Guard at MIL - Latifa Khaiyum new Director with Son:

On 30 August 2006 Lydia Elaisa resigned as one of two MIL directors.

She also resigned as company secretary. She was replaced by Khaiyum's mother Latifa as a new director with Khaiyum.

He also became MIL secretary.



SHARES: Aiyaz: 99 and Latifa: One (1)

In his Annual Return of 31 December 2006 he declared that he owned 99 shares in MIL and his mother Latifa owned one share, exactly like the quota of shares that the mother and son had owned in Latifa Investments Ltd. In his MIL 2006 Annual Return he notified the ROC that Lydia Elaisa had transferred on 30 August 2006 her one share to his mother Latifa. He held on to his 99 shares.

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The Annual Returns of MIL for 2007- 2014 (all filed in April 2015) prove that he owned 99 per cent of the shares in Midlife Investments Limited so he owned the majority of the ASSET in MIL and not nominal as ruled by FICAC

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FICAC is WRONG to claim that Khaiyum’s interest in the asset is not the majority interest; in the Annual Returns of MIL for 2006 and 2007 the liability listed is $80,000, which is the amount borrowed by MIL from National Bank of Fiji T/A Colonial National Bank - Mortgage No 593803 on 29 August 2006, and discharged on 19 August 2008, No 708225

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Fijileaks to Aiyaz Sayed Khaiyum: You filed all the MIL returns in April 2014, and brought in the Companies Amendment Decree in June 2014? What for or who for, can you tell us?

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Fijileaks to FICAC: Aiyaz Khaiyum also failed to furnish information about his 99 shares in Latifa Investments Limited and all of these are required to be declared by his own Political Parties (Registration, Conduct, Funding and Disclosures) Decree 2013; he merely stated the company was dormant and de-registration has been applied for (he didn't say when ROC was notified) - LIL file is missing and we have not seen a gazetted notice that it has been de-registered!

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BEDDOES PUTS HIS HANDS UP: The Opposition Leader’s Principal Administrative Officer Mick Beddoes today confirmed that there was an error in his company’s 2012 Annual Returns

The matter was highlighted by the Attorney General while defending himself against the Opposition Leader’s complaint against him for making a false declaration of his Assets & Liabilities.

Beddoes said in a statement today that while the Annual Returns of his company in 2012 has nothing to do with the false declaration complaint lodged by the Leader of the Opposition against Mr Khaiyum, it is likely Hon Khaiyum sought to embarrass him because he signed for the Leader in her absence.

Beddoes said that he was unaware of the error until it was highlighted by Hon Khaiyum and following a search he discovered that his partner’s name is listed in the remarks column as the recipient of a parcel of 1,000 shares, which was intended for him. Beddoes said the error has been rectified.

But as for Hon Khaiyum, the Leader of the Opposition has authorized a 2nd letter to the Chairman of the Electoral Commission as well as the Commissioner of Police because further information has been obtained from the Registrar of Companies regarding Midlife Investments Limited.  Interestingly the company file had been missing for some time and finally turned up yesterday

Beddoes said that it was noticeable that all of Midlife Investments Annual Returns from 2006 to 2014 [9 years] were all lodged on April 23rd 2015?

Beddoes said the search revealed that Hon Khaiyum did in fact own 99 of the 100 shares issued by Midlife Investments Limited; therefore he effectively owned 99% of the company and its asset, which is contrary to what FICAC concluded in its findings.

Beddoes said FICAC’s findings were based on the assumption that the complaint lodged by the Leader of the Opposition was about the understatement of the asset value, it was not and has nothing to do with either the overstatement or understatement of the asset value, it is all to do with making a false declaration in breach of the Political Parties Decree.

Authorized By                                                  
Mick Beddoes                                                  
October 30th 2015



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28 Comments
Ratu Sai
30/10/2015 06:23:11 pm

The whole useless lot should be charged with the AG

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Cop Out
30/10/2015 09:40:13 pm

Cry Oh Beloved Country. The Constitution seeks to prevent this kind of brazen and manipulative profit-seeking behaviour that the top legal man in the country has effected on the nation through nothing but his personal greed and hunger for power. What are those charged with protecting the Constitution gonna do about it -- sweet nothing. A damn useless lot

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FICAC A TOTAL FAILURE
30/10/2015 09:47:32 pm

In any true and real democracy which is based on the separation of powers, the rule of law demands that it is the COURTS which must declare what the law is.

FICAC therefore has no power to declare and interpret the law that A-S-K has not broken any law. That is the exclusive province of the Courts - even first year law students know this!!!

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Jonati Torocake
30/10/2015 11:57:46 pm

Thanks Victor Lal. This is the "way forward" for Fiji. Not what Bainimarama has been saying as what his government has been doing in developing the people to keep their mouth shut and their eyes blinded. Bainimarama's government did that to some but Fiji is glad that some of its citizens are not blinded or deafen by Bainimarama government offer. Soon Nemani Delaibatiki the Bainimarama parrot at FijiSun will try and make some controversial comments to favour the Bainimarama government. Evidence are there in black & white. The Chairman of the Electrol Commission should publically declare his interest. A lot of interesting developments are coming up.....GOD ALMIGHTY, JEHOVAH RAAH bless Fiji.....vinaka Victor

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Kavita
31/10/2015 06:57:56 am

Well in this case, the ruling was drafted by the Solicitor General's office and FICAC deputy director was asked to sign and release. This is new Fiji!

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Ratu Sai
30/10/2015 11:39:25 pm

The shit has hit the fan ! Now lets what those entrusted with upholding the law of the land will do. There is no question that the AG should be investigated, but the question is by whom? Police, the Supervisor of Elections, or FICAC. Whichever way it turns out the AG has lost any credibility he may had left after all the years of abusive control and corruption.

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Smoke and Mirrors
31/10/2015 02:46:25 am

The Bai/Khaiyum Government is able to get into and stay in power by an annual $5million dollar grant that China pays to an account in the PM's office that he uses as his personal slush fund to pay for rural roads and water supplies, pay outs to the absolute poor and other donations. The deal is that he must properly account for that money to China hence a rank of officals in the PM's office looking after projects. The transfer from China shows up in the budget as the not fully explained missing budget line. China essentially props up this regime by providing the cash for the buying of vote through projects. If China pulls the plug the regime falls.

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Welcome Home
31/10/2015 03:04:25 am

A Man called Intrepid must undertake such investigations and 'man' here is used gender-non specifically. The exposure of malfeasance is glaringly obvious and not apparent. But then it was back in November 2009 when perjury was permitted to remain uncharged in the Sigatoka Magistrates Court despite an Order made by the presiding Senior Nadi Magistrate. This signal failure was made known to the DPP and continuously pursued to no just outcome. These miscreants know who they are - arrogance drives them on. Since then a Free for All holds sway making a mockery of governance. God is not mocked and the noble banner blue will ultimately prevail.

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Welcome home
31/10/2015 04:17:29 am

Frederick Bastiat's use of the word 'plunder' says it all! Note that 'A Group of Men' should now be gender non-specific because since 1987 Fiji has been plundered and propelled into a moral void by both greedy and repugnantly rapacious women also. It is a devastation that has become manifest daily in the abuse of little children and the most vulnerable. These women are 'pushy' to the ultimate degree and they will gladly hoist the 'poorest of the poor' as a cover for their hypocrisy. Who remunerated them? This is the test.

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Fighter
31/10/2015 08:17:56 am

Can someone investigate why director Fiji Immigration had brought in people from his village to work at Fiji Immigration. They are unqualified and do not deserve to be at Fiji Immigration.
Ask the Indian staff of how they are treated!!

Reply
Anit Singh
31/10/2015 08:34:41 am

Bravo Fijileaks and Victor! The MILGATE stands busted.
What else to say – but for all to SEE.
Happy Halloween!

Reply
Dekho
31/10/2015 09:48:11 am

Look I have said this before and I repeat Fiji fell into Thug Rule with the Bainimarama takeover in 2006 and it remains under Thug Rule the pretence of a return to democratic and accountable, transparent rule notwithstanding.

Reply
Mele Savy
31/10/2015 07:27:39 pm

Jail them all. Frank, Aiyaz, the poofters (p**fters) from the military and those who are their minders and keepers. Jail for life. Throw them with George S. and child rapists. Throw them in one room.

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Alas Fiji's bleak future link
31/10/2015 09:26:08 pm

What is the point of expressing our dismay in blogs and on FB. This thug manipulated everyone in order to save himself. The strategy includes feeding military heads millions in order to make them spineless greedy gloating pigs, weakening the judiciary by recruiting Sri Lankans who have reputation of always siding with dictators, fragmenting the Indian population by masterminding Muslim and South Indian domination, keeping FIRCA and FiCAC in his pockets, controlling the media, keeping his boys in Reserve Bank so that they keep white washing with fictious progress. The rigged election, token gifts and all will still continue since the election campaign is already beginning.After all how can Baini see anything through all this. His pocket like his wife's and daughters' have been stuffed to seams so that they see nothing else. The low class idiots see nothing beyond their greed.Unless and until people revolt, until military stand for what their oaths are.

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rajend naidu
31/10/2015 11:53:52 pm

Editor,
Playing the ' bread and circus ' game for the mob in power and their cronies in the big end of town the mainstream media is quick to advertised the awards for business excellence and management practice even when the public know from their experience that some of the awards are far from deserving. It is used for political patronage. ( see Fiji Times article ' Businesses receive excellent award ' November 1).
The public for instance know the difference between an honest lawyer and a crooked one.
An honest dedicated lawyer who has been doing sterling work for the disadvantaged in the state of Loiusiana - Sachida Raman - has been awarded the Civil Legal Aid Award by the Loiusiana State Bar Association on October 9.
I know some failed lawyers turned political parasites who could never get an award like that - a genuine award in recognition of dedicated public service.
Sincerely,
Rajend Naidu
Sydney

Reply
Nothing will change
1/11/2015 04:43:58 am

Despite the stellar effort and superb investigative journalism of Victor Lal, nothing will change in this saga because this maha chor khaiyum has no shame, guilt, remorse, munanity, compassion.... you name it, he is totally devoid of it!!

He knows that police, ficac, parliament and the courts are all in his pocket which makes him untouchable. He also knows that the Sodelpa
opposition is totally defunct and impotent.

A very sad day for true democracy and rule of law in Fiji.

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maropito
1/11/2015 08:13:24 am

When the Government changes after another 3 years AIYAZ SAYED KHAIYUM will be the first FFP member in the jail for 10 years and others will follow.

Reply
Govt Will Not Change
1/11/2015 10:17:00 pm

History of scam counting will repeat itself.

Reply
Incompetent for Finance Minister / AG
1/11/2015 09:42:00 am

23 October 2015: FICAC ruled that Khaiyum overstated value of Lot 13 by $60,000 when he declared it was worth $80,000; he only had an equitable contribution of $20,000 in Lot 13, owned by MIL

If the equitable value remains at $20,000 9 years later, than AG must sell off his land for $100,000.

However, FICAC is as incompetent to say $60k overstated without having any valuation of property done.

Reply
Sholay
1/11/2015 06:30:56 pm

Victor Lal to Khaiyum :

"Aab Tera Kha Hoga Kalia"?

Reply
Sholay 2
1/11/2015 09:08:50 pm

Kai Yum to Victor :

Victor ji, maine Bainimarama ka namak khaya hai !!

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Gabbar Singh
1/11/2015 09:51:46 pm

May tera namak kahaya AG sardar ......ficac

AB GOLI KHA.......Victor Lal

Reply
Dekho
1/11/2015 10:06:31 pm

Look Khaiyum's corruption went like this : he planted his puppets everywhere like Chen Bum as Election Commission Chair and Saneem as SOE , the judges, the White South African as Polcom . These puppets are powerless and merely go through the motions and the pretence of being independent when in fact they all take their orders from Khaiyum - the man with all the power concentrated in his hands. When power is concentrated in that way there is only one outcome - CORRUPTION big time. Fijileaks exposes the corruption that Khaiyum and his cronies have been engaged in and the impotence of the authorities that were meant to check against it in the public interest. Instead they have been bending over to serve the private interest of Khaiyum and his self- serving political agenda which has nothing to do with the public interest.

Reply
Well said
1/11/2015 10:29:06 pm

Well said @Dekho. You encapsulate all eloquently in your summary.

Reply
rajend naidu
1/11/2015 10:53:15 pm

Editor,
We learn from Bloomberg Business 28 Oct that " the retirement savings accumulated by just 100 chief executives are equal to the entire retirement accounts of 41 percent of US families - or more than 116 million people, a new study finds".
Gary Hewitt, director of governance research at Sustainalytics in Amsterdam, which provides research to investors said " These benefits weren't originally intended to be huge wealth generators but they've become that as CEO compensation has grown to 200 to 300 times what average workers make...They're harder to justify as companies have abandoned worker pensions ".
This new study reinforces what the Nobel economics laureate Kenneth Galbraith had said about the rich getting obscenely richer and the poor getting poorer in America in his book The Culture Of Contentment.
Fiji too has cultivated that capitalist culture of catering for the greed of a privileged few in the so called " new Fiji " of Bainimarama and Khaiyum's design.
No marks for guessing who the privileged few are in the " new Fiji ".
Sincerely,
Rajend Naidu

Reply
Fiji First Party
2/11/2015 06:56:08 am

The name ‘Kalia’ so aptly suits Khaiyum at the moment. His face darkened, rubbed with proverbial ashes of shame. And in more familiar Fiji lingo Khaiyum has ‘tatti’ all over his face.

It was so silly of Kalia-Khaiyum to make a false declaration, in the first place (being a scholarly lawyer, author of our Fraud Constitution and being an AG and all) –yes, very silly indeed. What was there to hide?

Kalia’s silliness, him manipulating his minions (Saneen and Ficac) and him hiding MIL and Latifa from Victor’s scrutiny, made it all seem so sinister. So yes, if there is smoke, there is fire. This man, with a lot of ‘tatti’ on his face, is in fact hiding more than what presently meets the eye.

All this is without mentioning the ‘saga’ surrounding the STEALING of the our good Fiji First Party name by this pitiable Intellectual Property Thief (and Bainimarama) which laid bare, for all to see, the total lack of integrity and basic human decency of the duo. If they can STEAL an egg, they will STEAL the Chicken.

A thorough and total audit check of ALL of Khaiyum’s ‘finance and assets’, from 2006 up until now, is in ORDER.

The world needs to know the shameless, unjustified, self-enrichment of this “Con-Merchant” Kalia and his puppet PM.

Reply
Saamha
2/11/2015 07:54:19 pm

Spot on! You couldn't have been more concise in your description of this masur Fiji Indian Con Merchant par excelllance - Kalia Khaiyum Tatti wallah falla!

Reply
Bahuki
9/11/2015 05:13:41 am

This makes them worthy of punishment in naboro, but their self-made decrees have kept them from that.....we'll see how long it stands for the selfish protection Bhaiyum and his cronies since it can't always be there forever. I won't be surprised if justice comes around sooner or later.

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