Energy/DB: First Gulf Bank [C] Yousef Al Otaiba To Abdul Soe abun seedafghae) 2 Bu Saeed, Give me a call about this when you have a chance please. Youset Fst Gul Bank (68) ‘CEO: Mr. dre Sayegh mal andre saveqh@icb.ae Serr Cota Ne Simon Peney, Heat Wholesale Barking mal: sinonpemnevab ae Dear, Anse Sayegh, 7 BO Reply Deutsch Banks ranging ono-yar USS5 millon with @USS47S mifongeenshoe Senor Secured Fact (ho "Facil fr IMB ErerayHolings ud, a whys subsiianyof Malaysia Development Bhd (TMDB). 1MDBisa stale development compan. whal-owned bythe Federation of Malaysia trough tbe Minty o France. ‘DB was eaten odie sata nts fr lng rm economic developent for slay. MOB Energy i lssng power company Malaysia andes wel asthe rogen ands statagialypacod to supa he Goverment’ vision of a secure ete! and composive energy ture forthe ration “The Ei of Abu Dab and Masia have song satoge ts whch ate also ended in ut elatnship wih IMDB. We sto highy supportive of opening and broacening our ts wth NDB and Nala. ean atu nl exes ee pains Fy tay posed tie ce goes acon aah pid rng cet ‘Fay we alain aoe sp tis Frys UST ila thei ete) ane asin ju posed cement cgay Sipe asso espa sl ya wk wich youn sit ase ‘Ths neers tr bu Dah ads e epee yr trim andconminet sendy xg Fy, tdiMr. Ambassador: I'm sorry to intrude on your weekend, but | just learned from colleagues that the FBI recently launched an investigation into 1MDB, a Malaysian investment fund backed by IPIC. The investigation involves allegations of corruption, money laundering, and fraud that could tum in IPIC's direction, You are probably way ahead of me on this, but | wanted to flag it for you in case you want to discuss whether we need to prepare for what may be coming. The situation reminds me a bit of the Emirates antitrust investigation when we succeeded in persuading the Department of Justice it ‘was wrong to pursue that case, Based on what I've read, it seems that we might want to be proactive in preparing an intemal strategy to ensure the government is protected and anticipates next steps. If you'd like to discuss or have any questions, let me know. | hope all is well. Hal at from my iPad Oct 9, 2015, at 11:05 PM, "Kohne, Natash: wrote: Hi Hal, We discussed potentially asking the Ambassador about high level work in the UAE and we found a very high profile matter that is likely to explode Regarding the FBI investigation concerning IMDB, we spoke earlier with the GC of IPIC a week or 0 ago. From that conversation it became clear that he is not authorized to engage counsel on this matter. Obviously, we have to respect this decision, but we do think this poses a serious risk for the UAE given that the FBI is investigating activity that IPIC is very close to and therefore the investigation can tur in the IPIC direction at any moment. IPIC needs to proactively understand its ‘exposure here and potentially steer the FBI's investigation rather than react to what we believe is an inevitable inquiry from the ralIn order for IPIC to act, the instruction has to come from the most senior levels. We drafted the below proposed correspondence to the ambassador for your review. Perhaps we can discuss one sensitivity before you send? Best, Natasha Dear Ambassador Otaiba: ‘As you may have head, the Fl recently launched an investigation into {MIBB, the Malaysian fund backed by IPIC, The investigation involves allegations of corruption, money laundering, and fraud that can easily tum in IPIC's direction, which could have serious reputational and other repercussions on the UAE Wie believe that IPIC should take action to proactively understand their isk and steer the direction of the EB investigation, rather than wait for the FBI to inquire, We wanted to inquire whether IPIC’s senior management would be willing to instruct counsel as we think that it is only a matter of tine before th FB stats to look it certain IPC ansactions, We have song contact at the Do) and are very well positioned to assist, having worked on similar high-profile matters in the GCC in the past. ‘Thanks for your time. Best,In order for IPIC to act, the instruction has to come from the most senior levels. We drafted the below proposed correspondence to the ambassador for your review. Perhaps we can discuss one sensitivity before you send? Best, Natasha Dear Ambassador Otaiba: ‘As you may have head, the Fl recently launched an investigation into {MIBB, the Malaysian fund backed by IPIC, The investigation involves allegations of corruption, money laundering, and fraud that can easily tum in IPIC's direction, which could have serious reputational and other repercussions on the UAE Wie believe that IPIC should take action to proactively understand their isk and steer the direction of the EB investigation, rather than wait for the FBI to inquire, We wanted to inquire whether IPIC’s senior management would be willing to instruct counsel as we think that it is only a matter of tine before th FB stats to look it certain IPC ansactions, We have song contact at the Do) and are very well positioned to assist, having worked on similar high-profile matters in the GCC in the past. ‘Thanks for your time. Best,Hope that helps and happy to discuss. Sent from my iPhone (On Oct 17, 2015, at 5:02 PM, Yousef Al Otaiba wrote: {imagine 1PIC already has is own legal counsel on this. This issue has been around for a while. The FB angle is one ofthe more recent developments. Two questions for you: 1. How would US distinguish between IPIC and UAE or abu dhabi gov't 2. If this primarily a malaysian-UAE issue, what will the involvementrole of FBI turn out to be AMDB is currently being investigated by Swiss, Singaporean, and Hong Kong authorities as well From: Shapiro, Hal ‘Sent: Saturday, October 17, 2015 4:38 PM To: Otaba ‘Subject: Confidential and PrivilegedFrom: Yousef A Otaba[nalto‘tabs7 hotmail] Sent Sunday, October 18, 2015 11:59 AM To: shapio, Hal Subject: Re: Confidential and Pivieged ‘Thanks hal, this is helpful | ages the IPIC-akin issue to someone back home who is familiar with the issue, they wllook into right away. From: Shapiro Ha ‘Sant: Sunday, October 18,2015 951 AM “or Yousef A tata ‘Subject Re: Concent and Prileped [Answers to your two questions are below: 1. How would US distinguish between IPIC and UAE or abu dhabi gov't Tis is uncear and is exact the typeof discusion we would want to have vith the US. goverment -ifs in bth the AD governments interest wel sin PICs interest that ths rman a Malaysia MBH se. Tote etet tat texends oP sin all partes interest that remain an II sve and not extend toa UAEAD government sue. Tis may exend tothe UAE/AD government the Blsuspects comuption or money laundering among goverment ofcias who ae not afiatel with FI, but we donot cet have any information suggesting whether this might Be the case. tis one ofthe key reasons we advise that counsel orth PIC and the UAE assess whether o engage wth the Do atthe eal stages to steer the direction ofthe ls ivestigation, 2.f this primarily a malaysian-UAE issue, what wil the involvement/role of FB turn out to be? ‘The FB is investigating allegations of money laundering by IMDB. TMDB claims that the payments at issue were made to IPIC, but IPIC has stated ithas not eceived those payments. Several sources, including Malaysian MPs and news outlets have alleged corupton on the part of IMDB and, toa lesser extent for now, PIC. The FIs mandate in investigating allegations of money laundering (and corruption) is extremely broad, a US.juriition in hs aris very extratatitorial ~ covering for example ay tansacion denominated in US, dos, any single email that wen through US. server ete, even when the underying activity is entirely non-US, Sent from my iPhone (On Oct 17, 2015, a 557 PM, Yousef Al Otalba wrote Weird. Phone didnt rng, Wil call you shrorl.From: Shapic, Hal ‘Sents Saturday, October 17, 2015 5:21 PM To: Yousef Al Otaiba Subject: Re: Confidential and Privileged just tried calling to give you backstory It turns out some of my UAE colleagues were working on this issue IPIC and then told recently to stop (but they don't know why). If the reason is because IPIC moved on to others, that's fine -- but they probably need someone working on it. (On your first question, the answer really depends on how high the issues go and who is personally involved. My limited knowledge of IPIC suggests that there are key officials atthe top. So one goal af mine in flagging now isto let you think about that (and lke in the Emirates case weigh whether there are sovereign immunity issues to prepare for). | had the same question as your second one. My colleagues said they are working on an answer to that. Last | told my colleagues that you often like to bifurcate work for the Embassy and UAE entities for a host of reasons and it could be just as well iFIPIC has different counsel. | hope you know that we are happy to do things any way that is best for you and the UAE. Ifyou can do me the favor of not forwarding this version of the email that has the email string, I'd be grateful | sent ‘another one that would be fine if you do want to forward, Will send the additional information on the second question as soon as possible.‘Sent: Ficay, Soptembor 9, 2016 4:05 PM ‘os Richard int; Youse! Al taba’ ce: Seth Hertz ‘Subject: RE: UANI Update - Draft Note for Amb | want us to seriously talk about withdrawing. ‘Sent with Good Work (amn-go0d com) From: Fichard te (ce: Seth Hotz ‘Subject: FW: UANI Update - rat Noe for A ‘See Seth rote below. A fw points ohighight: ‘Your pane! fs nom just you and Kaplan, moderated by Mark Wallace, Im no excited about having you up there just with Kaplan ~ considering HEE links and hat he is biggest S behind UANI. Ancther option isto add someone else to panel someone ike Matis or Winfald. I spoke to Jay about t ‘and WSU wasn’ comvortable having him appear consgerng book. Optics not god for WSS. (Considering tis is open even, you shouldbe ready ia MOB quostion comes at you rom & reporter during orate the panel. 1 work with Sion on ths. ‘Their proposed relist for ABZ knch has bunch of journos ~ mos! who we trust 1 deer o you to decide. They want o send inites outon Monday. Seth wil be on ste that morning and wil meet you curse (Cat me it you want to iscuss. ‘Sent: Fray, Soptember 09,2016 3:06 PM ‘To: Richard Mintz (Ge: Fyan Duncan : Fichard Marcus : Matthew Taca ‘Subject: UANI Update - Draft Note for Amb Fichard- we had a helpful call wah UANL. Below is an updated for your review ~ dated in the frm ofan update eral to the Ambassador. Pease letOur Meeting Tobias Prister AB Ope ly T-Yousaf Al Ota lotsa Ohstico Sher Anata habar@amitenete) A cat, “To surmarie or metngin Ab Don 8 Ag 2015. She plese fn eo a B31 Ho sed so oscuro yroin at recor, Wt ros BS quis, he supe osha met persan or corals, ro ara He tas msn maj aes an cuts ay 61th oe resin wiki clsecvansored soon Sl none mast he usten unin a recone “Thassos be aura lj at os eb eno fora best PIC ad tat aets noc n Yadaton. Hook gts conn hares use Nat dat wah ono Eley set we moje ams wih ae os Gal early a Cslov where t soon De seetablypre extn te ‘noipost vantred Fe The cer sue elas OKA ‘ain nse etal et compte obuy bank 2 akg spt is ns. a5 nla Hen iy — and els at Amr Barbados up sl, 70 oh bank {erappe Sis. o wich weds rer sce a esi atarkng gop osised on Mstance ad find maregowet sarees Bascal w have asa ‘tte mons. nakrg gob eny sore at nn ere meen when tesmer paring ne gen ae ames und ru noe ssi han ‘rove, Fer ne monrod athe Boesdoeauhertes ergy ton are ent oD te ptr ona Amcny, ot ny ong ae og! Els borg ofa nna fat Bon Oma, eabsh a of aGPLP rasta wh Els ba ha OP by eT se Farms, be nol he uso con amp ein for a el, hater ral oc pul nh can be aangatin a aston or Single Purpose Company (SPC) ora (GPLP Paine ype une hh aes he quston water Eels webs alowed dos, en al we esl ab. paplay mest mTobe chek Instat bese ese ofa sec vice wns aasdanazes by Equals este However buy aba aud rezenent ran ton. Bankr serene most ‘ltd hats wa ore changes coe espe een Mare So plas ee ates uch mers we wu eet hat ery pete eee ‘rot ot ro an eat a ree ovens ayers ent ti eed abe chced aon o Wander acsnute wich mae a tke Eg {Stine Sate et guy buses Geneve, sre nba taza is ae oy Yas: “Trea, wt sage hap te vei nyse inks dp, and acing bak, fester, ‘eis @ FQUALIS | EasHope that helps and happy to discuss. Sent from my iPhone (On Oct 17, 2015, at 5:02 PM, Yousef Al Otaiba wrote: | imagine IPIC already has its own legal counsel on this, Ths issue has been around fr awhile. The FE angle is one of the more recent developments. Two questions for you: 1. How would US distinguish between IPIC and UAE or abu dhabi govt 2. If this primarily a malaysian-UAE issue, what will the involvement/role of FBI turn out to be IMDB is currently being investigated by Swiss, Singaporean, and Hong Kong authorities as well From: Shapiro, Hal Sent: Saturday, October 17, 2015 4:38 PM To: Otaba ‘Subject: Confidential and PrivilegedRe: Confidential and Privileged Shapiro, Hal -mnoS To Yous Ota abs 7hetmaicon) & Good te hear and good fim. Ifyou want to discuss embassy role happy todo at any time. Many thanks, Sent fom my Phone ‘On ct 19,2015, at 10.29 AM, Yousef Al Otiba wrote: ‘Apparently IPI is working with firm called Cliford Chance mainly because that’s the fim that worked on the term sheet andthe ‘original transaction with TIMDB in 2012 "Not sue how good they are but atleast they are working with someone an the new IPC CEO is aware Akins ready to step in if needed. From: shape @akinguma com ‘To: otaiba7@hotmailcom Subject RE: Cofdental and Prvleged De Sun 18 Oct 2015 1615.16 +0000 ‘Tharks very much. I you need anything om us, jut say the Word,RE: Note of Appreciation and Prime Minister's Office statement Ore” helonjwegmailcom> Ame Smwyiv oc A ae cn ARMA Bongo) & LB) mosstementon mo. [Arrows ei Dear Your Excellency, rust als wel |. As mentioned in our last meeting we expected these few month to be filed with noise, innuendo, and misinformation fam certain politcal ‘quarters. We are not concerned about our e-mails, 2s the purported e-mail leak had ciginate from the Saudis (which they had confirmed frm UK authorities investigating this mater) which was then partial fabricated for politcal spin. 2. Weare ofcourse ro-acivaly engaging proper frst er medi to ensure accurate reporting, as we have always been with transparency 3. Please find attached and below the statement which confirms that all account have been audited by Deloitte and allin order and these fake allegations made ae completely untrue. “4 You may be also pleased to know that the Prime Minister received a unanimous vote of confidence tay from his Cabinet on his handling ofthe economy, 5.The government has acknowledged that its inital funding of RMT millon (and resin debt and goversment guarantees) or IB nsuicient {given te cutent economic climate (exacerbated by ieresponsibe inaccurate media reporting) and thus wil proceed to implement the svategc reviow plan to shore up its capital base and ensure that al Lables are met, 6.The 3 Vice Presients ofthe ruling party are expected 1o make a statement tomorrow in suppor of the rime Ministers poston and IMDB, hich wll be the fist time this has taken place in Malaysia to dpel the negative perceptions, 7. Lastly we wish to reéterate our appreciation for your patience, understanding and friendship and aways being there for us. 8. Wewil of course reciprocate this wth a demonstration of cur unconditional long-term commitment to not only Mubadal, but Abu Ohabl as 2 ‘whole‘Thank you for your support and look forward to meeting with you during my nex vst to Abu Dhabi Yours sincerely, sho Frome sia News sno» Date Mach 208 164825 HET Suet Pine Miners fr staterenon IMDB ‘Statement by the Prime Minister's Office on IMDB Following recent media reports on MDB, the Prime Minister today called AMDB. and ther audtors Deloitte before Cabinet MDB proved a reing on MBA's cure siuaton and responded toa seis of questions osed by Cabinet Mister including the Prime Minister and Deputy Prime Minister. ov with SteLcoted tat ni id aud an verde omen’ assouia, ‘committed within MDB, and ther des for tho company tobe alowed to implement the proposed autoomes cls statogie review. As a futher step, the Prime Minister informed Cabinet that he has instructed the Aucltor General to independenty very IMDB's accounts. The Auditor General's report will be passed for transparent inspection to the Public Accounts Committee, ‘whichis fully bipartisan and reflects Parliaments composition. Prime Minister Najb Razak said: “if any wrongdoing is proven, the law wil be enforced without exception."RE: Various Youset A Otaiba A MB ORE ly very good Date Mon. 16 Dec 2013123625 +0400, Subject: Vorous From: shaher@omcates tae Te ctabaT@hotmallcom Soh Kir Yous ‘Metvith no ast igh {Les expecting to dose the Helnsay deal toa the Teh, However he theks that the terms and conions might not beso atvactve 2.6 toGonthe strateic agreements on ack Huge consructin and logistics opportuni or us 4. Seategic ci torage agreement sata tant between Khaldoon and ADNOC He wl puch Khaldoon in is mesg today wth him and wil ofr forthe PE to waite direct othe Boss. 4 vifed no sbout Ham. Hi group boleh onthe US. Hei eager tomas Hs sometime in nuary. 5. IMDB PO delayed to end of Ifthe Hensley deal oss today we expect tobe pid, in cash, by yea end. The gues yet tobe alized as MDs ony coming in with 1SDUS nt 2503s cial anticipated Best