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14 theSun | WEDNESDAY DECEMBER 17 2008

news without borders

Sikhs take turban rights case to United Nations


NEW YORK: A Sikh rights group asked in 2004 for refusing to remove his to do is to find that the French state Shingara Mann Singh, 52, a French being brought to the UN committee
a UN human rights committee on Mon- turban, according to a group called has violated Bikramjit Singh’s rights national, lost a series of appeals in under the terms of the International
day to declare that France violated a United Sikhs, which held a civil rights and to recommend that measures be France against the refusal by authori- Covenant on Civil and Political Rights,
student’s rights by expelling him for Conference in New York near the taken to rectify the decision,” Grosz ties to issue a new driving licence with to which France is a signatory.
wearing a turban and to recommend United Nations on Monday. said in a conference call from London. a photograph of him wearing a turban, She said the appeal to the commit-
repealing the law that led to it. Stephen Grosz, a lawyer for the “That effectively would mean a before taking his case to the Stras- tee was not about the three men in
France passed a law in 2004 group, said United Sikhs had filed an repeal of the law and its replacement bourg-based court. question but about “25 million Sikhs’
banning children in state primary official communication with a General by something else,” he said. In the third case, pensioner Ranjit right to wear a turban.”
and secondary schools from wear- Assembly committee dealing with hu- The rights committee passes only Singh was unable to access health care Kaur said it was unclear how long
ing conspicuous religious symbols, man rights about Singh and two other non-binding motions or recommenda- since 2002 because French authorities it might take for the committee to
including Muslim headscarves, Jewish Sikhs who have been unable to renew tions which carry only moral weight. would not renew his residence card decide whether to discuss the cases
yarmulkes, large Christian crosses and French identity documents because One of the other cases was already unless he removed his turban for a or to reach a conclusion.
Sikh turbans. they refused to remove their turbans brought to the European Court of Hu- photograph, United Sikhs said. A spokesman for the French mis-
Bikramjit Singh was 18 when he for photographs. man Rights, where it was dismissed Mejindarpal Kaur, legal director sion to the United Nations said he had
was expelled from school in France “What we’re asking the committee last month. of the group, said the cases were no comment on the issue. – Reuters

NEW YORK: Investors around the world former chairman


are counting the spiralling cost of the biggest
fraud in history, a US$50billion (RM180
billion) scam that has ensnared billionaire
businessmen and tiny charities alike and
whose tentacles have stretched further and
deeper than anyone imagined.
The man who Investors around the world are
calculating how much they might

was a $50 billion Ponzi scheme by


Wall Street trader Bernard Madoff
of the Nasdaq stock
exchange.
His arrest has
further shaken
have lost in what prosecutors allege confidence in the
barely regulated
hedge fund

conned the world


The fall-out from the arrest of the
Wall Street grandee Bernard Madoff was to defraud investors industry, which is
continuing to grow last night, as institution already suffering
after institution detailed the extent of their some of the worst
possible losses, and the victims in the UK times in its short
were headlined by HSBC and the Royal Bank history. Madoff
of Scotland (RBS), which is majority-owned – who is now on
by the British Government. a US$10 million
A charity set up by Hollywood director and from banks around the world. They US$1 billion (RM3.6 (RM36 million)
Steven Spielberg was among those also now have poured billions of dollars into Madoff’s billion) in Madoff’s bail and under
revealed among the victims, along with a too-good-to-be-true investment fund, which funds. orders not to leave
foundation set up by Mort Zuckerman, one appeared to post double-digit annual returns The Spanish bank the New York
of the richest media and real estate magnates come rain or shine. Santander, which owns area – was able to
in the United States, dozens of Jewish RBS said that it could take a hit of £400m Abbey and the savings operate his fraud
organisations, sports team owners and a New (RM2.1 billion) if American authorities find business of Bradford Bernard L. Madoff (left), Charles under the noses of
Jersey senator. there is nothing left of the money Madoff had & Bingley in the UK, Ponzi (right). In 1920s Ponzi devised regulators for many
But the biggest confessions were coming pretended to be investing for many years. could be on the hook for scam offering abnormally high profits years.
from Wall Street, from the City of London and HSBC, Britain’s largest bank, said a small US$3.1 billion (RM11.2 to investors out of money paid in by Mort
from the headquarters of European banks number of its clients had exposure totalling billion). Zuckerman, the
Japan’s Nomura
subsequent investors owner of the New
said it has hundreds of Estimated exposure York Daily News
millions of dollars at risk. Santander $3.1 billion and one of the 200
City analysts said that richest Americans,
even banks who invested HSBC $1.0 billion said that one of
only on behalf of clients Union Bancaire Privée $1.0 billion the managers of
could end up on the his charitable trust
hook, because clients are Natixis $605 million had been so taken
almost certain to sue for Royal Bank of Scotland $595 million by Madoff that
bad advice. he invested US$9
Madoff confessed last BNP Paribas $467 million billion (RM32.4
week that his business Reichmuth $325 million billion) with him,
was “all one great big including all
lie”. The investment Nomura Holdings $302 million the money from
returns were fake, and Banque Bénédict Hentsch $47 million Zuckermanis trust.
he had been paying “These are
old clients with money
Bramdean Alternatives $30 million astonishing
from new ones. In its Pictures: Associated Press, numbers to be
Boston Public Library © GRAPHIC NEWS placed with one
conception, the scam is
a classic. In its size, it fund manager,”
is breathtaking, eclipsing he said. “I think
anything seen before. He personally we have another break in whatever
estimated the losses at US$50 billion, level confidence needs to exist in money
according to the FBI, and as investors markets.”
owned up to their exposure on Monday that Nicola Horlick, the British fund manager
did not seem impossible. known as Superwoman for juggling her
For 48 years, until Thursday morning, high-flying City career with bringing up five
Madoff was one of Wall Street’s best- children, turned her fire on US regulators.
respected investment managers, able to Her Bramdean Alternatives investment
harvest money from a vast network of fund had put 9% – about £10 million (RM36
contacts and to trade on his name as a million) – with Madoff. – The Independent

AP reporters, photographers stage


‘byline strike’ over contract talks
WASHINGTON: Journalists and photographers at Nov 30. Besides withholding bylines from stories
the US news agency the Associated Press (AP) and photographs, the Guild said some employ-
are withholding their bylines to protest manage- ees “planned to withhold use of their personal
ment’s stance in contract talks, their union said vehicles, cellphones, and other equipment, while
on Monday. others were ‘working to rule.’”
“Staffers recognize the tough times, but they The Guild said the protest began on Sunday
also understand that quality journalism at AP and is “set to end later this week.”
means attracting and retaining the best employ- AP president and chief executive Tom Curley
ees,” Tony Winton, president of the News Media said last month that the New York-based AP, a
Guild, said in a statement. cooperative owned by 1,500 daily US newspa-
The Guild said AP reporters and photogra- pers, plans to reduce its staff by 10% over the
phers were withholding bylines and personal next year, mostly through attrition.
equipment “in protest over the news agency’s The move, which would amount to more than
proposals that would threaten job security, 400 jobs, was necessary because of a reduction
dramatically raise medical costs, and freeze in fees paid by member newspapers, many of
wages.” which are facing financial difficulties, and the
The Guild, which represents 1,400 editorial, declining economy, Curley said.
technology and support workers at AP, has been AP is one of the world’s three major news
bargaining with management since Oct 21 on a agencies, along with Agence France-Presse and
new contract to replace the one that expired on Reuters. – AFP

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