Aramco
“A rough understanding of Daeyang Group’s overseas assets has been completed. Most of them are pseudonymous or borrowed names, so we can’t get a complete picture of it, but it’s pretty much the big stuff.”
Daeyang International and Daeyang Holdings. Not a few new people joined the Daeyang Group, which was converted into two holding companies, and Eugene exercised influence in many cases.
Most of them were accounting personnel, and over the past year or so they have scoured Daeyang Group’s accounting data to find problems, especially in overseas transactions.
The data revealed in this way were transferred to the Americas Business Center (ABC) led by John Brannon, where they were using the data to identify the overseas assets of the Daeyang Group Chairman family, which would be scattered around the world.
As is the case with many business leaders in developing countries where politics is unstable, the presidents of chaebol families in the past often moved their assets overseas in case problems arise in Korea.
Among them, the Daeyang Group family, who was the most ambitious to advance into the world, showed such a tendency.
The Daeyang Group is the first among Korean chaebol groups to enter overseas markets, enter the largest number of countries, and still operate the largest number of overseas subsidiaries and overseas factories.
Starting with automobile factories in Eastern Europe, from Europe to the Americas and countries in Asia, it is said that there is no place without local factories in the ocean.
Naturally, every time we enter the country, there are a lot of funds that have disappeared unexpectedly for various reasons.
In particular, in the 20th century, when the Internet and information sharing were not easy, there were many places to skip in the process of money flow between countries.
“The main things that will be money are real estate. Many other assets have been devalued due to the dissolution of the Daeyang Group, but the case of real estate is different.”
According to data posted by John Brannon, he seems to have quite a bit of real estate in at least 100 countries.
Moreover, most of them are located in the capital of each country or in the transportation hub not far from the capital, so there are not a few places that have risen significantly compared to the price at the time of purchase.
“Many of them are owned by corporations headquartered in tax havens in the Caribbean and elsewhere. There are over 100 corporations established in more than 10 countries, including the Cayman Islands, Panama and Samoa.”
It looks like it has been delicately hammocked for a very long time.
“Let’s discuss it with Eric Holder and try to figure out how to deal with it legally.”
“I will.”
Another influential person Eugene hired, Eric Holder, seems to have strong ties with lawyers around the world as well as his background as Justice Minister during the Obama administration.
The Daeyang Group Chairman’s family is undoubtedly Korean, and only holds Korean nationality.
And although some of their foreign assets are in the United States, they are mostly scattered around the world.
Legally, there is not much room for the U.S. Department of Justice to get involved, but that is only in common sense.
One way or another, the Daeyang family has their own business in the United States, and there is plenty of room for conflict with US law.
This was especially the case with tax issues. Even a few hundred dollars isn’t usually a headache if it gets caught up in an investigation by the US tax authorities.
In particular, if Eugene, who exerts enormous influence in the Trump administration, puts pressure through ex-persons such as Eric Holder, there is a good chance that it will lead to the seizure of the overseas property of the owner of the Daeyang Group.
Of course, the real thing will start with the Korean government. The data obtained by John Brannon seemed sufficient to force the South Korean government to seize the clothes of the owner of the Daeyang Group.
“By the way, did you say that Ryu Seong-gyu did not transfer in Turkey?”
The fact that Sunggyu left for Poland via Incheon International Airport was reported on the same day.
And the fact that he disappeared without boarding a transit flight in Turkey was also received the next day.
“There is a villa in the Cyclades Islands where Ryu Geun-soo is staying. Perhaps that is the destination.”
Ryu Geun-soo, who used to be the president of Daeyang Heavy Industries, has gone abroad after the short sale of Daeyang Heavy Industries’ stocks.
It is often predicted to be somewhere in Europe, but it is not known where it will stay on that vast European land.
However, for John Brannan, who served as the head of a world-class intelligence agency for several years, it seems that it was not a big deal.
In just a few weeks after Ryu went to Europe, reports of the exact location of his hiding place and even aerial photos were posted.
I heard that ABC has allocated a sufficient budget, so they invest in a European drone maker, receive a military drone that is being developed there, and operate it as a test.
It seems like it was a deal that helped each other.
“Now the European branch is checking again. I will see you soon.”
As always, John Brannon said his business and left the office.
If it is a general report, there is no reason to come, but if it is possible to do something related to the Daeyang Group, he personally came and gave a detailed briefing.
Because he knew very well that the boss was most interested in it.
Eugene welcomed another guest shortly after John Brannon left.
This time it was a handsome middle-aged man from far away Saudi Arabia.
“It’s been a long time. Yasir.”
Yasir Mohammed is an American executive at Saudi Arabia’s Sovereign Wealth Fund (PIF), known as a close aide to Crown Prince bin Salman, the de facto owner of the sovereign wealth fund.
For that reason, it was a big hand that was welcomed not only in Saudi Arabia, but also in New York.
Eugene also seldom refuses to meet with Mohammed.
With an estimated total assets of more than $500 billion, the Saudi Arabian Sovereign Wealth Fund has been making major investments in a variety of companies outside Saudi Arabia in recent years.
This is because Crown Prince bin Salman, who has emerged as Saudi Arabia’s leading power, is pouring out investments in various fields, including high-tech businesses, to change the structure of Saudi Arabia’s oil-dependent economy.
And much of that investment has to do with Eugene’s funds.
“The Crown Prince wants to create a joint fund with Eugene by raising a total of $100 billion by next year.”
After about an hour of chatting, Mohammed came up with the main topic.
As I always feel, meetings with Muslim businessmen should not be approached as mere business.
We were able to show how much we trust each other, talk about our daily life, and even discuss what goes on in the world.
“That is a very large sum.”
For a long time, Eugene and his aides had been discussing a cooperative relationship with Saudi Arabia a lot, and Eugene expected the size of PIF’s investment to that extent.
Originally, Crown Prince bin Salman would have created a Vision Fund with Japan’s SoftBank to make an investment of $100 billion over the next few years.
However, perhaps because of Eugene’s appearance, the investment scale of the Vision Fund was still far below the level Eugene knew.
The Crown Prince of Saudi Arabia, the largest water owner of the Vision Fund, seems to have been weighing the scales.
Without Eugene, Japan’s SoftBank is clearly the most aggressive and large-scale investment firm.
However, in the world where Eugene exists, he is always the number one investor in the world.
“I think we will be able to raise that level of funding over the next four years.”
“You said that the purpose was mainly to invest in American companies.”
“Because Eugene said that for the time being, there is no other place where the economy is as booming as the US economy. This is the part that the Crown Prince strongly agrees with.”
“It’s just a not-so-great opinion.”
“There is no one in the world who can say that the words that come out of Eugene’s mouth are personal opinions. You’re too modest. This time, the Crown Prince was very pleased.”
The Crown Prince of Saudi Arabia also made quite a savory profit from the coin’s bull market. Of course, thanks to Eugene.
And, like most people who know the shame, the Crown Prince also left a message to ask Eugene for any help he needed.
The words that come out of the mouth of ordinary people would be called greetings, but the weight of the words uttered by the crown prince of a country, and the person who actually rules the country that dominates the oil industry, is different.
Eugene was always expecting that the Saudi Crown Prince’s promise would be put to good use.
However, he expressed displeasure with the case of this joint fund.
“There is not enough room to accept a $100 billion fund in four years.”
No other investment company would ever treat a guest with such a bag of money.
That’s a huge sum of money equivalent to the GDP of a small country, not a penny or two.
However, Eugene’s position was different. Even now, the world’s leading banks and powerful people are lining up to invest in his fund.
“I would appreciate it if you could understand that it is different from a typical asset management company.”
Entrusting assets to the fund managed by Eugene for the current world leaders was perceived as a de facto privilege.
If you leave it to Eugene, you can see a return of at least 10% or more, close to 30% every year, so there is no such thing as an attractive investment destination.
Of course, hedge funds that make aggressive investments often leave such profits.
Conversely, however, it is common for the amount of investment to be completely blown away.
Hundreds of thousands or millions of dollars could be invested in such a risky hedge fund, but you can’t put billions of dollars in risky investments.
Larger scale tends to give much higher scores to stability than returns.
Such large amounts of money end up being driven to asset managers that make only a few percent a year.
However, Eugene’s asset management company has returned more than tens of percent of profits every year without a single failure so far.
It is natural for many powerful people to line up to invest.
If you come now and get $100 billion in Saudi Arabia, similar demands could come from the other side.
“Once the investment funds exceed a certain level, it becomes impossible to make a profit above a certain limit. Even now, our funds are already reaching the limit. It’s going to be a more risky area where the extra money will go.”
“Of course I do. Even His Majesty the Crown Prince is not making such a proposal for a stable investment. It is not certain, but it is your request to further advance into fields with great potential.”
“Well… … .”
“I hope you can make a decision as soon as possible.”
Seeing that they are urging them like an Arab, it doesn’t seem like a regular visit.
“It’s because of Aramco’s IPO.”
As I recalled the situation in Saudi Arabia, I quickly realized why.
“you’re right. His Majesty has high expectations for this listing.”
Aramco was a state-owned oil refinery that the Saudi Arabian government withdrew from an IPO last year.
The Crown Prince of Saudi Arabia seemed to be doing everything he could for a successful listing this time around.