Sarawak Report has learned from diverse sources that the world’s flashiest Arab has had his wings clipped.
Attempts by the former IPIC/ Aabar boss to re-ingratiate himself in Abu Dhabi, as a re-born philanthropist, appear to have been unproductive, as the former high-roller has found himself frozen out by his former royal employers.
“Khadem has not spoken to Sheikh Mansour in months“, one insider confirmed to Sarawak Report.
Further reports indicate that the mysteriously super-wealthy former civil servant has suffered the indignity of having several of his key bank accounts frozen.
Abu Dhabi’s sovereign funds are moreover said to be demanding much of their missing money back from Khadem, who managed both the International Petroleum Investment Company and its subsidiary Aabar, which partnered so many of 1MDB Malaysia’s most controversial deals.
Those missing sums amount to billions of dollars, a large chunk of which appear to have been diverted from 1MDB. Just today Aabar was forced to ignominiously borrow over US$4 billion dollars at hefty rates, partially in order to keep 1MDB afloat under a commitment made last year thanks to al Qubaisi.
Also in the frame is Khadem’s right hand man and ex-CEO of Aabar, Mohammed Al Husseiny, who was likewise summarily dismissed last year as the 1MDB scandals started to unravel.
Al Husseiny once told an associate that he felt ‘protected’ in the United States, where he has citizenship. But, with international regulators now looking hard at this massive sovereign wealth scandal, the former New York pizza delivery boy, originally from Kenya, may be rueing his US passport.
So may the managers at Red Granite Pictures, whose films Al Husseiny has admitted to bankrolling over the past years. The owner of RGP is, of course, Najib Razak’s step-son, Riza Aziz, who now faces the potential knock on effects of any action against his clearly conflicted financial benefactors.
Meanwhile, the Hakkasan nightclub mogul, Al Qubaisi is said to be holed up in his property empire in the South of France, where he still wields considerable influence as a result of his staggering wealth.
Khadem’s acquisitions have already been detailed by Sarawak Report and consist of several substantial properties on the Cote d’Azur and in Paris, currently overseen by his former bank manager at Edmond de Rothschild banque Privee in Luxembourg, Marc Ambroisien.
Ambrosien decided to ‘quit’ the bank shortly after Sarawak Report exposed his role in transferring half a billion dollars into Al Qubaisi’s ‘Vasco Trust’ account in 2012 from a company called Blackstone Asia Real Estate Partners (BVI).
In a recorded conversation Ambroisien said that a mainstream bank would have immediately have rejected or frozen the money.
Sarawak Report has subsequently established that international investigators have confirmed that Blackstone was incorporated by none other than the Malaysian businessman Jho Low, who acted as a proxy for the Prime Minister at 1MDB – and that a number of payments from the same Blackstone BVI company were also made during the same period into Najib Razak’s personal AmBank accounts in KL.
So, with his liquid cash turned solid and with a major and expanding Hakkasan night club empire requiring finance over in Las Vegas and beyond, might KAQ, as he is nicknamed, be tempted to cash in some of his most prized and ostentatious possessions, namely his multi-million dollar classic car collection?
After all, last month, Khadem’s collaborator Jho Low, who is also experiencing frozen asset issues, was likewise noted selling a substantial chunk of his over-valued art collection in New York for considerable knock-down prices.
If so, Sarawak Report has been looking in at some of the potential choice lots for interested billionaires in search of traffic halting vehicles to show off in:
Top lot status would surely go to the first ever Pagani Zonda super-car, purchased by Khadem in 2011.
Pirelli even invited Al Qubaisi to deliver a speech at the launch of the subsequent vehicle (the Hyura), which he willingly gave. Insiders have estimated the final cost of this customised delivery to the Emirates fund manager could have reached anything up to US$5 million for the single roadster:
‘KAQ’ has been zooming around in the vehicle and entrancing auto-geeks in the south of France ever since. His speech is revealing, not least in that it confirms from his own mouth the huge size of the Aabar fund, which he was supposed to be managing in trust:
In the speech he also refers to a number of his other playthings, which might also, under the circumstances be coming up in a job lot:
We have already reported on this vehicle, with number plates to boast the owner – it costs around US$2 million. He also has a girlie twin version in pink:
Our final list of additional known vehicles amounts to the following – readers are invited to update and improve our list of Khadem cars:
Veyron SuperSport blue carbon KAQ
Veyron SuperSport orange/black KAQ
Veyron GrandSport carbon
Veyron GrandSport grey/silver
BMW X6M black
Benz G55 AMG full black
(all with Geneva number plates)
Khadem might be relieved to have these prize purchases available to auction at this stage. The value must approach a cool US$10 million or more.
All one can say is ‘buyer beware’.
UPDATE: Another Euro2 million plus McLaren car has also been traced to KAQ. Did this German outlet realise they were laundering Khadem’s stolen money? Certainly Khadem has done his best to eradicate this article shown below:
Yesterday I saw a friends Facebook post showing a stunning McLaren P1 being parked at the McLaren dealership garage in Frankfurt and since the P1 is one of my all time favourite cars I just had to go and see it. The picture on Facebook showed the car in the dark meaning the colour seemed black but I was in for a shock as I entered the showroom.
The colour on this particular P1 has a sort of flip lacquer paint changing between a beautiful blue and midnight purple and I have to say it really suits it very well. Due to the P1s body, it can appear to have two different colours but in fact it only has one.
This particular car is a KAQ edition and many of you have asked what that actually means. The KAQ edition cars belong to a wealthy owner who also has got 2 examples of the Bugatti Veyron Super Sport (in KAQ edition form) and he also owns the first full carbon fibre Pagani Huayra, so the P1 has not changed apart from the special colour and the KAQ stitching in the seats.
A big shout out to McLaren Frankfurt who gave me the opportunity to see the car and to really enjoy it! The car will go down to southern Germany but we are already expecting to spot it on Geneva plates this summer in places like Monaco, Cannes or Niki beach.
FURTHER UPDATE – we have now identified a KAQ Ferrari motorbike, also uniquely monogrammed for the mega-thief owner
Note how the monogram on the bike matches the stitched seats in his purple McLaren…
We send out the latest story at 7am Malaysia time