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Old 08-10-2006, 12:31 PM   #1
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Default The Carrian Group case in HK

this case was happened in 1983, a malaysian chinese George Tan found a fast growing company named Carrian Investment in HK. The company grew from nothing to the fifth largest company in HK just in 3 years time....but then collapse suddenly in 1983 and led to the largest ever bankrupcy in HK.

Then later Bank Bumi sent a auditor to HK to check on their billion dollar loans and the auditor got murdered in HK.

in the later days, HSBC, Baclays bank also got involve in this financial scandals....and HK ICAC spent 17 years to investigate the case because of the dramatic happenings which including the advisor of the company suicided and the judge of the case died in a myterious traffic accident........


this case is very dramatic and George tan manage to escape by just sentenced in prison for 3 years but spent most of the time in the hospital by claiming his health are not able to live in jail......


any senior here know more about this case and care to share?
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Old 08-10-2006, 12:50 PM   #2
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Google ?
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Old 08-10-2006, 01:07 PM   #3
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sound interesting ler....
how do u know bout it??.......resurfaced out in HK papers/medias recently?
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Old 08-10-2006, 01:18 PM   #4
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you mean you guys never heard of the Carrian case & the collase of bank bumi?

when were you guys born??? There were tons of scandals of many cases that were swept under the carpet by our past G. this is a needle in hay of the many "you arent allowed to speak of where the trail leads to" topics.

now dont you think history lessons is important???
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Old 08-10-2006, 01:21 PM   #5
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allow yourself to read impartial expert/foriegn analyst opinion(s) then local hearsay/ gossips. it helps. it a disease that plagues malaysian people.
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Old 08-10-2006, 01:28 PM   #6
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sorry dude....was out unleashed into the working society only in 2002....
was before my time I guessed.....

care to give some insights?
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Old 08-10-2006, 01:33 PM   #7
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In 1983 I probably just graduated out of diapers lar friend. Cerita sikit. Malas mau pergi cari.
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Old 08-10-2006, 01:33 PM   #8
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yes.... was hear longtime ago...and our G duno lose how many B on this case....... but until now still not yet setle rite...and no follow up by our press....
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Old 08-10-2006, 01:37 PM   #9
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what I don't understand is that the company was set up in HK.........
what has it got to do with our Government or our local banks??.........

I know for now; the bank wouldn't simply approve overseas investment.......mayb it's because of learning from cases like that.....

what's the actual scandal lar wei..........tried googling it up; but can't seem to find the actual lead...
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Old 08-10-2006, 01:38 PM   #10
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Quote:
Originally Posted by koolspyda
you mean you guys never heard of the Carrian case & the collase of bank bumi?

when were you guys born??? There were tons of scandals of many cases that were swept under the carpet by our past G. this is a needle in hay of the many "you arent allowed to speak of where the trail leads to" topics.

now dont you think history lessons is important???
this case was swept under the carpet very very long time back by the G, and was stop by the G to publish any more info about this inciddent in local news paper, do u still remember the commodity market collasped inciddent back then?
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Old 08-10-2006, 01:43 PM   #11
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alright....found this site:
http://www.icac.org.hk/text/eng/case...arrian_14.html

read on
http://www.icac.org.hk/text/eng/case...arrian_12.html
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Old 08-10-2006, 02:19 PM   #12
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i was reading on some other things and found this case.....mr tan is a clever man who managed to escape by only got 3 years sentenced but he used health problem as an excuse to escape....He is a very clever man who start from nothing in 1979 and make the 5th largest company in hk by 1982....just 3 years to make billions...thats quite a miracle...rumour said that he has a 5 stars standard jail quater during his imprisonment in malaysia......

there was article mentioned that bank bumi lost about rm$2.5 billion( mostly by overseas loan without proper financial review)...HSBC and other overseas banks are involved also....many big shots in the banks are involved....some become fugutive with lot of $$$...some of the people involved are the political leader in HK and Malaysia....

but the most dramatic is the murder of bank bumi's auditor, the suicide of the company's law advisor and the myterious traffic accident that killed the judge.....

the whole investigation only completed in 2001..but it is the biggest ever corruption case in HK history....See...malaysia really boleh...

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Old 08-10-2006, 02:20 PM   #13
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i for one have an opinion that if malaysia was well managed from the seventies we would be far ahead or at least on par with the management of corporate governance of singapore, not lagged 10-15year from them.

The seventies saw thousands of bright & well-educated people/families migrating from malaysia. (no need to go into that as it already well documented)

These were people who would have contributed enormously to the socio-economics & the progressive growth of malaysia.

I say it again, i believe that we (malaysians) been had & are led to believe we are better off.
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Old 08-10-2006, 02:36 PM   #14
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yes, even my current boss in hk(he is also quite clever) also said Mr.Tan is a very smart person that he has ever come across...

Even Lee Ka Shing also cannot make such a miracle....2.5billion dollars of HKD in 1980s......that is good for 25billion dollars if in today view....and got all that in 3 years time....he could be as rich as billgate nowadays if the bubble didnt burst....ofcourse the way to create such a miracle is unethical and not encouraged...
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Old 08-10-2006, 05:05 PM   #15
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m'sian chinese...........
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