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The investigation in USA is concerned with the activities of P.V.Aboobacker, Richard J Kapsch, P.V. Veetil Muhammed Shamsudheen, Forex International Corporation, Chicago Forex Limited and others believed to be involved in this grand international felony, and focused on violations of the Internal Revenue Code, mail & wire fraud offenses and money laundering. For more details, contact:
Friday, November 11, 2005


In the name of the only God, the most Compassionate, the most Merciful.

The Managing Director of 'LEADER MIDDLE EAST LLC' (a Dubai based Financial Intermediary licensed by the UAE Central Bank), Puthankote Vadakeveetil Aboobacker is accused of siphoning $53 million from a pair of trading firms set up in Arlington Heights with the help of former Chicago Mercantile Exchange governor, Richard J Kapsch, according to an article, which appeared in the 'Chicago Tribune' newspaper on July 31, 2005 . The article can be obtained for a nominal fee at the website Don P. V. Aboobacker is also Director of 'Leader Investments Inc.', an Illinois based company which is a member of the National Futures Association, and the London based 'Kerford Financial Ltd', which is regulated by the Financial Services Authority. Don P.V. Aboobacker is also the promoter and founder Director of 'Leader Capital Services India Pvt. Ltd.' registered with the Registrar of Companies in Mumbai.

Aboobacker was a cook in Obaidullah Contracting company in Dubai till January 1990. By 1994, he was a Director of LEADER INVESTMENTS, INC. in Chicago. You can get this information confirmed on the website of the regulator in the United States for Commodity Futures Merchants, NATIONAL FUTURES ASSOCIATION, and typing LEADER INVESTMENTS in the box next to 'Firm's name'. HOW DID PUTHANKOTE VADAKEVEETIL ABOOBACKER BECOME THE FEARED MAFIA DON ABOOBACKER WITHIN 4 YEARS? DON ABOOBACKER BRAGS TO HIS ASSOCIATES THAT WHEN THE INDIAN GOVERMENT'S ARREST WARRANT WAS ISSUED FOR INDIA'S MOST WANTED DON, DAWOOD IBRAHIM, ABOOBACKER MANAGED TO GET THE INFORMATION FROM DUBAI POLICE THROUGH ABDUL REHMAN SAEED OBAIDULLAH, who is the son of his ex boss in Obaidullah Contracting. In fact, Abdul Rehman Saeed Obaidullah is currently a COLONEL in Dubai Police. Thereafter, Don Aboobacker supposedly smuggled Dawood Ibrahim out of the United Arab Emirates in a commercial flight from Sharjah Airport, bypassing Immigration formalities. Apparently, this arrangement was made through MAJOR FADHIL ABBAS of Sharjah Police, who has since been dismissed from his position, and is currently the Manager of LEADER MIDDLE EAST LLC.

Kindly visit the website, If you move your cursor to the icon, 'INVESTORS' CORNER', a box listing several options will appear on your screen. Please click on 'Commission Public Statements'. Scroll down, and click on the Statement regarding ' Reymount Investments Limited ("Reymount") '. This statement issued on 14 April 2004 by Gary Godel, Enforcement Director of the Jersey Financial Services Commission is reproduced below:
This statement is made in order to warn investors and others against dealing with unauthorised financial services providers. Reymount Investments Limited ("Reymount"), Company Registration Number: 81772, Registered Office: PO Box 124, La Motte Street, St Helier, Jersey JE4 8QR
The purpose of this statement is to advise the public that Reymount, which company maintains a website at and, has not received authorisation to conduct financial service business within the meaning of the law stated below.
The Commission has issued a direction under Article 20(1) of the Financial Services (Jersey) Law 1998, as amended ("the Financial Services Law") to Reymount, a company incorporated in the Island, requiring Reymount to cease conducting unauthorised investment business contrary to Article 6(1)(b) of the Financial Services Law. The Jersey Financial Services Commission ("the Commission") has issued this public statement under Article 22 of the Financial Services Law.

The Commission wishes it to be known that: Reymount has never been registered, or applied for registration, under the Financial Services Law. Therefore any financial service business, as defined in Article 2 of the Financial Services Law and carried out since 1 July 1999, is a breach of Article 6 of the Financial Services Law. Any person who has had dealings with Reymount is requested to contact the Commission.

Gary Godel, Director Enforcement, Jersey Financial Services Commission, Nelson House, David Place, St. Helier, Jersey, JE4 8TP.
14 April 2004

According to the Civil Seizure Warrant no. 05 C 3653 filed on June 23, 2005 with the United States District Court for the Northern District of Illinois, Customers were lured to invest in the foreign exchange and bullion markets, but their funds were never traded in financial markets, instead the outcome of each investor trade was controlled. Customers were encouraged to invest through a variety of misrepresentations that included but were not limited to: false statements about guarantees relating to returns on the investments; false information involving the risks associated with the investments; and misrepresentations regarding the nature of the exchanges where the trades or investments were to be executed. Customers were never advised of the relationships between the introducing brokers and the companies purportedly conducting the trades. Customers were advised that their invested funds were lost in unsuccessful trades while other accounts appeared to be profitable. These profitable accounts were held in the names of nominees that were controlled by Aboobacker and those associated with him. These accounts allowed those involved in the scheme to use these fraudulently-obtained funds and to avoid any income tax consequences.
Some of these nominee accounts that were held with 'Chicago Forex Ltd.' and introduced by ' Euro Financial Brokerage Co KSCC' in Kuwait were accounts number 99024, 99025 & 99032 held in the names of Kandoth Niyaz Hussain, Najmuddin Kalladi and Muhammed Abdul Kareem Faisal, also known as P.V.Faizal. Kandoth Niyaz Hussain is the elder brother of Aboobacker's wife, Razala, and is currently the manager of 'Al Shuaib International Financial Brokerage Co KSCC'. According to paragraph 34 & 35 of 'Exhibit A' of the Civil Seizure Warrant no. 05 C 3653 dated June 23, 2005, CFL account number 99120 held in the name of Kandoth Shiraz Hussain Shaikh (who is the younger brother of Kandoth Niyaz Hussain and the head of Aboobacker's operations in Kuwait) was also used to conceal the proceeds of the fraud scheme and to skim the profits. Some of these funds were routed through Kandoth Shiraz Hussain Shaikh's bank account in Kuwait Real Estate Bank. According to paragraph 37 of 'Exhibit A' of the Civil Seizure Warrant, CFL account number 55119 held in the name of Shaikh Shehzad (who is an employee of 'Al Shuaib International Financial Brokerage co') was also used for this purpose. Over two dozen nominee accounts from Kuwait were used to conceal the nature, source, location and ownership of Aboobacker's family in these funds.
According to paragraph 22 of 'Exhibit A' of the Civil Seizure Warrant, 'Euro Financial Brokerage Co KSCC' and 'Global Financial Brokerage Co KSCC' are two Kuwaiti companies that are owned by Aboobacker through a US company called 'Leader Holdings Inc.' which changed its name to 'Apollo Holdings Inc.' and later to, 'Leader USA Inc'. According to paragraph 30 of the same exhibit, 'Global Financial Brokerage Co KSCC' and 'Kuwait Associate Co' are introducing brokers owned by Aboobacker and funding for these companies is made by 'Apollo Holdings Inc', which is Aboobacker's company. They have been acting as introducing brokers to 'Chicago Forex Ltd.' and 'Forex International Corp'. According to paragraph 29 of 'Exhibit A' of the Civil Seizure Warrant, 'Chicago Forex Limited' and 'Forex International Corp' are acting as an enumerated entity, namely 'Futures Commission Merchant', without registering with the appropriate regulator.
Please visit the following URL link: The relevant portion of the page that would open is pasted below:
Brokers in the Sale and Purchase of Currencies, Commodities and Intermediaries in Money Market Operations
Leader Middle East, LLC.-Dubai

The website of the company is at In case you wish to contact the company, their address is: Leader Middle East L.L.C., Suite 201/202/701/702, Bu Haleeba Plaza, Al Muraqqabat street, P.O. Box 21416, Dubai, U.A.E. The telephone numbers are +971-4-2692848 & +971-4-2686222. The fax numbers are +971-4-2686844 & +971-4-2682626. They have been acting as introducing brokers to 'Chicago Forex Ltd'. Some of the nominee accounts introduced to 'Chicago Forex Ltd.' by 'Leader Middle East LLC' are: 55080, 55085, 55090, 55095, 55105, 55119, 55157, 55164, 55183, 55213, 55214, 55229, 55268, 55269, 55295, and 55300. Some of the accounts through which the proceeds of this fraud were laundered are held with Standard Chartered Bank in Dubai in the name of LEADER COMPUTERS LLC (01/02-4627067), PUTHANKOTE VADAKEVEETIL ABOOBACKER (01-4612442) & MUHAMMED ABDUL KAREEM FAISAL (01-2319225).

As mentioned in the US Civil Seizure Warrant 05 C 3653 dated June 23rd 2005, P. V. Aboobacker transferred many assets from the USA after the Search conducted at a few of his premises on November 18th, 2003. Here is an interesting piece of information: THREE CARS, A '2004 AUDI A8L', A '2002 BENTLEY ARNAGE' AND A '2004 HUMMER H2' ARE BELIEVED TO HAVE BEEN SHIPPED TO A SENIOR OFFICER OF DUBAI POLICE, ABDUL RAHMAN SAEED OBAIDULLAH. According to paragraph 69 of 'Exhibit A' of the US Civil Seizure Warrant No. 05 C 3653, the silver Audi A8L (VIN: WAUML44E94N001952) was purchased in the name of Chicago Forex Ltd by Puthankote Aboobacker on or about August 18, 2003 from Bentley Downers Grove/ Luxury Motors,Inc. According to paragraph 65 of 'Exhibit A' of the US Civil Seizure Warrant No. 05 C 3653, Aboobacker purchased a 2002 Bentley Arnage from Luxury Motors, VIN: SCBLC31E52CX08233, in the name of Chicago Forex Ltd on June 5, 2002. According to paragraph 68 of 'Exhibit A' of the US Civil Seizure Warrant No. 05 C 3653, Aboobacker purchased in the name of Chicago Forex Ltd, a 2004 Hummer H2 (VIN: 5GRGN23U94H100226). HIS SISTER, NAJAT OBAIDULLAH, IS BELIEVED TO BE THE HOLDER OF ACCOUNT NUMBER 55229 WITH 'CHICAGO FOREX LIMITED', WHICH IS ONE OF THE DUMMY ACCOUNTS USED TO SIPHON FUNDS TO THE TUNE OF APPROXIMATELY US$460,677/-.

A former partner of Aboobacker in 'Leader Middle East LLC', identified as CI-1, provided information to law enforcement authorities in March 2002, and introduced them to CI-2, who was employed by Aboobacker till June of 2005. In telephone conversations recorded as early as June 2002, with CI-2's consent and without Aboobacker's knowledge, Aboobacker directed CI-2 to open nominee accounts in the name of his younger brother Muhammed Abdul Kareem Faisal, also known as P.V.Faizal, his brother-in-law, Kandoth Shiraz Hussain Shaikh, and 'Leader Computers LLC', a Dubai based company. Aboobacker also discussed the closing of nominee accounts held in the name of 'Leader Middle East LLC', and 'Leader Far East Ltd'. According to paragraph 46 of 'Exhibit A' of the Civil Seizure Warrant, in a recorded conversation on June 12, 2002, Aboobacker directed CI-2 to open a nominee account in the name of Kandoth Shiraz Hussain Shaikh. In the same conversation, Aboobacker referred to Shiraz as the listed owner of the holding company of 'Chicago Forex Ltd'.

According to paragraphs 12 through 18 of 'Exhibit A' of the Civil Seizure Warrant, Cayman Islands authorities report that on October 24, 2001, Richard Kapsch transferred all 7,500 shares of 'Aries Management Limited' to Kandoth Shiraz Hussain Shaikh and further issued an additional group of 2,500 shares of stock to Shiraz. On November 18, 2003, US law enforcement officers executed search warrants at various locations controlled by Aboobacker and his associates. Initially, during the course of the interview, Aboobacker explained that Kandoth Shiraz Hussain Shaikh had purchased 'Chicago Forex Ltd.' for approximately US$ 500,000/. Later in the interview, Aboobacker stated that he did not receive any currency, but he received some overseas property from Shiraz. Kandoth Shiraz Hussain Shaikh has been a resident of Kuwait since the end of 1997. Initially, he was on the resident permit sponsored by 'Al Shuaib International Financial Brokerage Co KSCC'. He had a grand wedding at the Radisson Hotel in September 2000 with his secretary Mona Sami, a Jordanian national. Later, his residence permit was transferred to 'Kuwait International Financial Group'. He is currently in the process of setting up a magnificent office in Moscow, in which the Russian mafia, are suspected to be his partners. It is also learnt from reliable sources that he has already established a posh office in Guangzhou in China, in partnership with the daughter of that city's mayor. Perhaps, he is now planning to launder money for the Russian mafia and the Chinese triads.

Here are a few interesting questions: How much money did Shiraz launder in Kuwait for Aboobacker's companies? For which individuals or organizations did he launder money? According to an article which appeared in the Tamil weekly magazine 'Junior Vikatan' in September 2005, Aboobacker has approximately 70 offices in India, and supposedly has links with 'Al Qaeda'. According to a complaint that was received by the Securities and Exchange Commission of Pakistan on 5th April 2005, about US$ 600 million has been defrauded from 1997 to 2004 by Don P.V.Aboobacker's gang. From this amount, over half, approximately 14 billion indian rupees (Indian Rupees 1400 crores) has been duped from Indian Customers.
The Indian offices of Don P.V. Aboobacker are believed to be 'Leader Capital Services India Pvt Ltd', 'Leader Trading Commodities Pvt Ltd' and 'Reymount Commodities Pvt Ltd'. Some of the bank accounts used in India by Don P.V.Aboobacker's flagship company 'Reymount Commodities Pvt Ltd' are with IDBI Bank in Chennai, HDFC Bank in Ahmedabad, Federal Bank & ABNAMRO Bank in Bangalore, ABNAMRO Bank in Hyderabad and ABNAMRO Bank in Kolkota. This company uses the website and has become a member of 'National Commodity & Derivatives Exchange Ltd.' and 'Multi Commodity Exchange of India Ltd.'. Although both exchanges claim that Non Resident Indians are presently not permitted to trade in Commodities and Derivatives in India, they have allowed 'Reymount Commodities Pvt. Ltd' to become a member in spite of the fact that majority of the shares in that company are held by Don P.V.Aboobacker's younger brother, Muhammed Abdul Kareem Faisal, also known as, P.V.Faizal. Neither exchange can feign ignorance, as according to the 'Form no. 2' filed with the 'Registrar of Companies in India' on 13th February 2004, 600,000 shares of Rs.10/- each were allotted on 19th December 2003 to P.V. Faizal, and his address on the same form is listed as a location outside India, 201/202, Bu Haleeba Plaza, Al Muraqqabat road, Dubai, UAE. The least crime that both exchanges are guilty of, is lack of exercising due diligence.
According to paragraphs 26, 27 & 28 of 'Exhibit A' of the Civil Seizure Warrant, the introducing brokerage companies owned by Aboobacker' ("IBs") do not clear trades through major banks or exchanges, instead, Aboobacker through 'Chicago Forex Ltd. ' ("CFL") and 'Forex International Corp.' ("FI"), takes the other side of most of the trades. Consequently, this means that CFL and FI are not at financial risk on most trades made by CFL and FI through IBs, because both sides of the trades are controlled by a related party. In these situations, when a client of IBs realizes gains in his or her investments, FI or CFL incurs losses. Likewise, when a client of IBs sees a decline in the value of in his or her investments, FI or CFL makes a profit.
In November 2003, Aboobacker admitted to US law enforcement agents that CFL acts as a market maker and does not need a clearing house for its trades. A REVIEW OF THE BUSINESS RECORDS CONFIRMS THAT NEITHER CFL NOR FI PURCHASED ANY ITEMS, SUCH AS SPOT OR FORWARD CURRENCY OR BULLION SECURITIES ON BEHALF OF CLIENTS FROM ANY REGULATED EXCHANGE OR OTHER REGULATED ENTITY. Further, IBs request that they have discretionary authority over the clients' accounts at the time the clients enter into trading agreements. IBs falsely tell clients that their investments are being traded on an exchange or through interbank transactions. The clients are typically told at the time they fill out account agreements that their accounts will be held by CFL or FI, but they are not told that CFL and FI are related to IBs. IN OTHER WORDS, CLIENTS OF THE IBs ARE NOT INFORMED THAT CFL OR FI MAY BENEFIT FINANCIALLY IF THE CLIENTS' INVESTMENTS DECLINE IN VALUE. According to officials from the 'Commodity Futures Trading Commission', neglecting to inform clients that an IB does not execute trades through a major bank or relevant exchange, but instead executes the trades through companies related to the IB (like FI or CFL) defrauds the customer because it fails to inform the investor of the company's financial interest in the transaction.

The funds in bank accounts held in the name of 'Chicago Forex Ltd.' and 'Forex International Corp.' in Harris Bank, La Salle Bank and Burling bank were seized. Among the bank accounts confiscated were those held in the name of Puthankote Aboobacker, his brother, Muhammed Abdul Kareem Faisal (also known as P.V.Faizal ), his daughter, Sara Aboobacker, his wife, Razala Aboobacker, his brother-in-laws, Kandoth Firoz Hussain, Kandoth Shiraz Hussain and Niyaz Hussain. All the funds contained in the bank accounts in USA of the following companies were also seized: Reymount Investments Ltd. (Jersey), Reymount Investment Ltd. (BVI), Kerford Investments (UK) Ltd., Kerford Investments Inc., Kerford Investments Ltd. (BVI), Leader Far East Ltd., Leader Soft, RK International Inc. and Leader Holdings Inc. IN ADDITION TO THE FUNDS HELD IN 34 BANK ACCOUNTS, 6 PROPERTIES AND 2 VEHICLES WERE ALSO CONFISCATED BY THE US GOVERNMENT.
The investigation in US is concerned with the activities of P.V.Aboobacker, Richard J Kapsch, P.V. Veetil Muhammed Shamsudheen, Forex International Corporation, Chicago Forex Limited and others believed to be involved in this scheme, and focused on violations of the Internal Revenue Code, mail & wire fraud offenses and money laundering. Any customers of these companies may contact directly the US Government Special Agent in charge of the investigation, Ronald Braver, at his direct phone +1.847.581-2173 or his cell phone +1.847.456-7870. They may also email him at or send their complaints by post to IRS/CID, Attn: Ronald Braver, Special Agent, 8125 River Road, Morton Grove, Illinois 60053, USA.
The emergency motion for entry of a protective order to restrain contents of certain accounts and proceeds from the sale of real property, often quoted from above, and referred to as the 'Civil Seizure Warrant no. 05 C 3653' dated June 23,2005 is available as a 47 page PDF file of size approximately 1.3 megabytes. If you would like to peruse it comprehensively in its entirety, kindly send me your email id to after ensuring that you have sufficient space to receive the attachment in your mailbox. If you need further assistance, please do not hesitate to contact me.
Invisible Sleuth.
posted by Pepsi Murali at Friday, November 11, 2005 0 comments
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11:26 PM  
Blogger Adrian de costa said...

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4:36 AM  
Blogger Adrian de costa said...


5:36 AM  
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12:21 AM  

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