Tweet
Maybe this is something, maybe it’s nothing; maybe it’s only a movie script waiting to happen.
There’s a rash of stories today about the “apparent” suicide of Kuwaiti broker Hazem Khalid al-Braikan, found shot to death in his home Sunday morning Kuwait time.
Seems al-Braikan had been involved in running up the price of stock(s) in fake takeover attempts; he bought up enough stock that it appeared someone was going to take controlling interest of a firm, then dumped the stock after the price had run up because other firms bought into the uptick.
The SEC had filed a lawsuit against al-Braikan’s firm and several others on Thursday this week, for alleged trading “around hoax bids for US companies.”
Textron, a firm which has historically had government contracts, was one of the firms in which al-Braikan had been trading earlier this year.
The most recent stock in which al-Braikan took an initial position on June 1 and sold out on July 20?
You may recognize the name Harman, of course; the firm was founded in 1978 by Rep. Jane Harman‘s (D-CA) spouse, Sidney Harman. Sidney stepped down as CEO of the firm in 2007, replaced as part of a turn-around plan in advance of a planned buyout by KKR and Goldman Sachs. KKR and Goldman backed out, however. The CEO stepped up to the chairmanship the following year, with Sidney retaining only an honorific position with the firm.
Rep. Harman’s 2007 financial report reflected holdings including as much as $200 million in Harman International stock along with a half-million in the same firm’s retirement plan.
Is this something or is it nothing, purely coincidental that a now-dead Kuwaiti broker picked on Harman International? Who knows…but SEC sure can hustle and take action when it wants to, can’t it? it was only 3 days between the time the accumulated positions were dumped and the SEC filed suit…
12 Comments
“Follow the money.” Yep. Of course, nowadays we’re talking gigabucks. Thanks for this, Rayne.
Even the scheduled buyout of Harman in fall of 2007 looks weird from this angle.
Could be entirely fluff, purely coincidental, but it doesn’t seem like it’s worth shooting one’s self over, you know?
Recommended. Thanks you, Rayne.
Most here are aware of how GS and the other Robber Barons rigged the 1929 crash (bid up stock, got their $$$ and ‘backed out’); Russia’s economic collapse which led to the breakup of the Soviet Union: Who got fatter off their fall? Goldman Sachs. In perhaps the greatest economic crash of all time in 2008, who emerges richest of all with cream all over their Cheshire cat faces? Goldman Sachs. Who controls our Treasury Dept and the Fed? Goldman Sachs.
Suicide? Maybe/maybe not. One thing is for sure: al-Braikan’s knowledge will never come to light in any inquiry. Who benefits, who had motive, who has power to cover it up?
as a side note, maybe most here are aware, but i haven’t been aware of gs’ role in the 1929 depression or the russian collapse. i’ve only been aware of their current “contribution”. that may have something to do with my lack of historical knowledge in general.
greenwarrior, the summary of the looting of Russia’s treasury in 1990s and into 2001 is found on pages 87-93 of Michael C. Ruppert’s book, Crossing the Rubicon. The Goldman Sachs ref is on page 88. There was so much that led up to the paragraph I excerpt here, and so much that came after that I hesitate to take it out of context. Bearing that in mind, here is a paragraph on page 88:
[I’ll need some time to recall in which of my books the ref to GS involvement in the 1929 crash is found.]
In reference to Goldman Sachs’ involvement in the 1929 crash, here is one online article. It takes info found in John K. Galbraith’s book on the 1929 crash. I just Googled: Goldman Sachs, 1929 crash That gets you lots of refs.
BTW, I’m no expert on any subject – just an avid reader who is very disturbed about the over-all state of our country.
Who benefits from this fella’s untimely demise?
Excellent question. He certainly avoids unpleasant questions, yes?
Thanks, Rayne. Looks like al-Braikan was an expendable player where he was too small not to fail. A horse head in someone else’s bed? Follow the money …
It’s good to hear that even though al-Braikan is dead at least the SEC can still sue the estate because it’s a civil matter.
http://74.125.95.132/search?q=…..#038;gl=us
Sorry, I messed up the previous post so I’ll try again.
Didn’t I read that because of the hornets nest Bush made around the globe that foreign investers were taking their money out of our markets and making their own markets? How long has Kuwaiti had it’s own stock market?