Are you in compliance?

Don't miss out! Sign up today for our weekly newsletters and stay abreast of important GRC-related information and news.


Status message

Start your free, no obligation 5-day trial to continue exploring with full access.

€30 million for cup of tea? Good work if you can get it

Tom Fox | February 15, 2016

It certainly is good work if you can get it. As reported in the Financial Times, Abdul Razak Baginda was paid over €30 million for work as the middleman in a transaction between the French company Thales International Asia and Malaysian government for the sale of two submarines. The article said, “Mr. Baginda told the FT he was paid about €30m to consult on the French deal, lobby for it and oversee 8 years of execution.” There was no report on whether there was actually a signed contract which might specify Baginda’s duties.

This matter came to light because French prosecutors are investigating the transaction to determine if, the former President of Thales International Bernard Baiocco paid kickbacks to the embattled Malaysian Prime Minister, Najib Razak to facilitate to the transaction. The Prime Minister is currently under investigation for his roles in other corruption scandals, although the Malaysian government entity charged with the investigation...

Buy this article for $49, or subscribe to Compliance Week for a month at $149 and get unlimited article access for 30 days.