Daphne Caruana Galizia, a well-known female journalist in the southern European Mediterranean country of Malta, was killed by a car bomb while driving out in October 2017, shocking not only the world but also the Malaysian political scene, as Galizia uncovered a corrupt network of collusion between business and politics in the country, accusing Prime Minister Joseph Muscat and his wife of receiving foreign funds and wealthy businessman Yorgen Fenech of bribing politicians. Muscat and his wife received foreign funds, rich businessman Hen Fenech (Yorgen Fenech) bribed dignitaries, Muscat thus stepped down.
Reuters reported on March 29 that after an in-depth investigation into the flow of funds, it was discovered that the case involved China’s “One Belt, One Road” program, and that Chen Cheng, managing director of the Greater China resources business of multinational management consultancy Accenture, was involved. The case involved Chen Cheng, the managing director of Accenture’s Greater China resources business.
Galicia alleges that former Malaysian Energy Minister Konrad Mizzi and Keith Schembri, Muscat’s chief of staff, owned two companies in Panama and received bribes from two offshore companies, 17 Black, a company owned by Henveneck, and Macbridge, a company founded by Chen Cheng. “(Macbridge). After the journalists continued to expand the scope of the investigation, they penetrated into the network of Hua Dao International and touched on the $400 million (about 11.5 billion Taiwan dollars) investment in Europe by the Chinese state-owned company “Shanghai Electric Power Company”.
Reuters and the Organizational Crime and Corruption Reporting Program (OCCRP), the Maltese Times, and the Süddeutsche Zeitung traced the two aforementioned companies involved in this corruption network and found that Chen Cheng, 43, from Shanghai, had represented Shanghai Power in negotiations over the past 10 years for investments in Malaysia and another small Balkan country, Montenegro. Montenegro) in negotiations over investment matters.
Founded in June 1998 and officially listed on the Shanghai Stock Exchange in October 2003, Shanghai Electric Power Company is a large power generation company controlled by China Power Investment Corporation, one of China’s five largest state-owned power groups. With the support of the Malaysian government, Shanghai Power invested $400 million in the acquisition of shares in Enemalta, the national power company of Malaysia, a case that is being positioned by the Malaysian government and Chinese officials as part of the “One Belt, One Road” project.
Galicia disclosed in 2016 that Chen Cheng founded a company in the British Virgin Islands in 2014 for unknown purposes. That same year, Shanghai Electric Power invested $400 million to acquire a stake in Enemalta, a deal in which Chen Cheng played a key role. Galicia did not identify any misconduct by Chen Cheng, and Accenture did not respond at the Time.
The latest investigation found that the Chen Family set up two companies in Hong Kong, both with ties to the horse state. One is Hua Dao International, which paid 2 million euros to a Panamanian company owned by the then energy minister Miki, who negotiated on behalf of the horse state; the other company, Dow’s Media Company, received 1 million euros from Heng Fenech’s company, in connection with the Monteregoro investment.
Chen Cheng lobbied the Maltese National Electricity Company and Shanghai Electricity to jointly invest in the wind power project in Monte Negro, which eventually led to the investment case, but this wind power project is actually owned by the company under the name of Henveneck; the money obtained from this investment case, partly flowed into 17 Black, and then paid 1 million euros to Dow’s company after the investment was completed.
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