Ahsan Ali Syed, the shadowy man behind Western Gulf Advisory, is the subject of an extensive article in the Spanish edition of Vanity Fair cataloging his bizarre claims and denials that a New (� Copyright Protected - The National Business Review 86) Zealand businessman has frozen his Swiss assets.
The eight-page, glossy article catches Mr Ali in numerous misrepresentations - including his purported �8 billion wealth and the ownership of (� Copyright Protected - The National Business Review 55) racehorses - but the WGA founder and chairman is still claiming to be �best friends� with Terry Serepisos and says he will deliver his promised $US100 million loan to the embattled (� Copyright Protected - The National Business Review 81) Wellington developer.
The introduction to the article asks the question of whether criticism of Mr Ali is due to "millionaires envy" or the fact that Mr Ali is an "international (� Copyright Protected - The National Business Review 65) crook".
Mr Ali denied being a fraud, and deployed a variation of the Tall Poppy defence in invoking Formula One boss Bernie Ecclestone and Chelsea football club owner Roman (� Copyright Protected - The National Business Review 92) Abramovich.
�Why do they always attack the rich? Why do they attack me and people like Ecclestone and Abramovich?�
Pain in Spain
Mr Ali and WGA came to prominence in Spain in January (� Copyright Protected - The National Business Review 82) with the purchase of La Liga football team Racing Santander. WGA had been active in Australiasia earlier, convincing New Zealand businessmen like Terry Serepisos and Gary McNabb to pay large upfront (� Copyright Protected - The National Business Review 90) for loans that were never delivered.
The article details Mr Ali�s arrival in Spain, including the booking of an entire floor of a five-star hotel and the hiring of five Mercedes cars driven (� Copyright Protected - The National Business Review 38) with disregard for red-lights and speed limits. Over time, Mr Ali's entourage thinned, and he has not been seen in the country since May.
Vanity Fair spoke to local government officials in Spain (� Copyright Protected - The National Business Review 72) who recounted that Mr Ali claimed he was rich from producing Bollywood films promising to spent 50 million signing new players, including David Beckham.
�I do not recall that (� Copyright Protected - The National Business Review 66) conversation,� Mr Ali said when questioned over the Bollywood and Beckham boasts.
After repeated bounced cheques and threats by players to sue over unpaid wages, Racing Santander entered (� Copyright Protected - The National Business Review 30) bankruptcy protection and Spanish authorities are engaged in legal action to strip Mr Ali of ownership.
Denies wealth and asset freeze
Mr Ali also resiled from claims he made to the Guardian (� Copyright Protected - The National Business Review 33) newspaper that he was worth �8 billion. �I do not know where it comes from. I do not know who wrote it,� Mr Al said of the article.
Mr Ali also denied reports in the National (� Copyright Protected - The National Business Review 8) Business Review that New Zealand businessman Gary McNabb has successfully frozen the Swiss assets of WGA following a refusal of the company to refund $US750,000 paid in upfront fees.
�Look (� Copyright Protected - The National Business Review 7) around you, do you think I have been repossessed?� Mr Ali told Vanity Fair, gesturing to his lavish 27th floor offices in Bahrain.
Mr Ali also took journalist David Lopez to his stables in (� Copyright Protected - The National Business Review 54) Bahrain where he praised his horses as �strong animals, honest and loyal�. The journalist later returned to the stables to discover the horses being complimented were in fact not owned by (� Copyright Protected - The National Business Review 17) Mr Ali at all, but rather were only renting stable space from the WGA owner.
After a shouting match where Mr Ali accused the Mr Lopez of being on a mission to destroy him and threatened to sue, the (� Copyright Protected - The National Business Review 27) Indian businessman promised he would commit suicide if he were a fraud: �If there are ten cases of entrepreneurs who complain I will cut my throat,� he said, pulling his index finger (� Copyright Protected - The National Business Review 7) across his jugular.
�Best friend� of Serepisos
Mr Lopez, whose prior article for the magazine was an interview with Charles Manson, told the National Business Review that Mr Ali had (� Copyright Protected - The National Business Review 88) made much of his relationship with Terry Serepisos during his interview in late July.
�He is finally giving Serepisos money to avoid bankruptcy. Ali says that Serepisos is his best (� Copyright Protected - The National Business Review 22) friend,� Mr Lopez says.
WGA have still not delivered on their promised $US100 million loan to Mr Serepisos, who faces another bankruptcy hearing this morning in the High Court in Wellington.
https://www.nbr.co.nz/article/bizarre-claims-serepisos-best-friend-mn-p-99145
Ahsan Ali Syed, the shadowy man behind Western Gulf Advisory, is the subject of an extensive article in the Spanish edition of Vanity Fair cataloging his bizarre claims and denials that a New (� Copyright Protected - The National Business Review 86) Zealand businessman has frozen his Swiss assets.
The eight-page, glossy article catches Mr Ali in numerous misrepresentations - including his purported �8 billion wealth and the ownership of (� Copyright Protected - The National Business Review 55) racehorses - but the WGA founder and chairman is still claiming to be �best friends� with Terry Serepisos and says he will deliver his promised $US100 million loan to the embattled (� Copyright Protected - The National Business Review 81) Wellington developer.
The introduction to the article asks the question of whether criticism of Mr Ali is due to "millionaires envy" or the fact that Mr Ali is an "international (� Copyright Protected - The National Business Review 65) crook".
Mr Ali denied being a fraud, and deployed a variation of the Tall Poppy defence in invoking Formula One boss Bernie Ecclestone and Chelsea football club owner Roman (� Copyright Protected - The National Business Review 92) Abramovich.
�Why do they always attack the rich? Why do they attack me and people like Ecclestone and Abramovich?�
Pain in Spain
Mr Ali and WGA came to prominence in Spain in January (� Copyright Protected - The National Business Review 82) with the purchase of La Liga football team Racing Santander. WGA had been active in Australiasia earlier, convincing New Zealand businessmen like Terry Serepisos and Gary McNabb to pay large upfront (� Copyright Protected - The National Business Review 90) for loans that were never delivered.
The article details Mr Ali�s arrival in Spain, including the booking of an entire floor of a five-star hotel and the hiring of five Mercedes cars driven (� Copyright Protected - The National Business Review 38) with disregard for red-lights and speed limits. Over time, Mr Ali's entourage thinned, and he has not been seen in the country since May.
Vanity Fair spoke to local government officials in Spain (� Copyright Protected - The National Business Review 72) who recounted that Mr Ali claimed he was rich from producing Bollywood films promising to spent 50 million signing new players, including David Beckham.
�I do not recall that (� Copyright Protected - The National Business Review 66) conversation,� Mr Ali said when questioned over the Bollywood and Beckham boasts.
After repeated bounced cheques and threats by players to sue over unpaid wages, Racing Santander entered (� Copyright Protected - The National Business Review 30) bankruptcy protection and Spanish authorities are engaged in legal action to strip Mr Ali of ownership.
Denies wealth and asset freeze
Mr Ali also resiled from claims he made to the Guardian (� Copyright Protected - The National Business Review 33) newspaper that he was worth �8 billion. �I do not know where it comes from. I do not know who wrote it,� Mr Al said of the article.
Mr Ali also denied reports in the National (� Copyright Protected - The National Business Review 8) Business Review that New Zealand businessman Gary McNabb has successfully frozen the Swiss assets of WGA following a refusal of the company to refund $US750,000 paid in upfront fees.
�Look (� Copyright Protected - The National Business Review 7) around you, do you think I have been repossessed?� Mr Ali told Vanity Fair, gesturing to his lavish 27th floor offices in Bahrain.
Mr Ali also took journalist David Lopez to his stables in (� Copyright Protected - The National Business Review 54) Bahrain where he praised his horses as �strong animals, honest and loyal�. The journalist later returned to the stables to discover the horses being complimented were in fact not owned by (� Copyright Protected - The National Business Review 17) Mr Ali at all, but rather were only renting stable space from the WGA owner.
After a shouting match where Mr Ali accused the Mr Lopez of being on a mission to destroy him and threatened to sue, the (� Copyright Protected - The National Business Review 27) Indian businessman promised he would commit suicide if he were a fraud: �If there are ten cases of entrepreneurs who complain I will cut my throat,� he said, pulling his index finger (� Copyright Protected - The National Business Review 7) across his jugular.
�Best friend� of Serepisos
Mr Lopez, whose prior article for the magazine was an interview with Charles Manson, told the National Business Review that Mr Ali had (� Copyright Protected - The National Business Review 88) made much of his relationship with Terry Serepisos during his interview in late July.
�He is finally giving Serepisos money to avoid bankruptcy. Ali says that Serepisos is his best (� Copyright Protected - The National Business Review 22) friend,� Mr Lopez says.
WGA have still not delivered on their promised $US100 million loan to Mr Serepisos, who faces another bankruptcy hearing this morning in the High Court in Wellington.
http://www.nbr.co.nz/article/bizarre-claims-serepisos-best-friend-mn-p-99145