Wednesday 4 June 2008 19:31

By Christopher Story FRSA, Editor and Publisher, International Currency Review, World Reports Limited, London and New York. For earlier reports, press ARCHIVE. Order your subscriptions and our ‘politically incorrect’, hence correct, intelligence books from the Edward Harle segment.

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LONDON, 4th June 2008: Something happened yesterday in connection with the Settlements that may have been associated with the British police raids on premises owned by Safe Deposit Centres Limited in Mayfair, Central London, and in Hampstead and Edgware, to the northwest of the capital.

As we reported yesterday, citing prominent media reports, more than 300 British police officers and staff, including heavily armed police marksmen, were involved in simultaneous raids at three lock box locations. A total of 7,000 safety deposit boxes were seized and are being treated as individual crime scenes. To cite from Tuesday’s report:

Police officers have secured the concrete and steel vaults, and will take several weeks to remove each box, using angle grinders, to a secret location where they will be prized open with diamond-tipped drills. This is an unprecedented blow against UK and global organised criminal operations, and will have decisive implications for the criminalised sectors of intelligence services, especially the vast intelligence criminal underworld associated with the Central Intelligence Agency.

Press reports assert a view that a top tier of criminalist masterminds are believed to have rented out most of the boxes from the firm, Safe Deposit Centres Limited, which has been operating for more than 20 years. Two directors of this firm were arrested yesterday: Jaqueline Swan, 44, who was arrested at the Mayfair address, and Leslie Sieff, aged 60, who was detained in Hampstead. A third director, Milton Woolf, 52, is reported to be abroad, possibly in Israel.

Sieff and Woolf, originally from South Africa, have been residents in Britain since the 1980s.

While not yet knowing how many of the safety deposit boxes are being rented, British police believe that 90% of them may hold criminal assets. Scotland Yard said that the Met’s Specialist Crime Directorate raided seven properties in all: the three safety lock box depositories, an office and three residential addresses. This was the biggest raid of its kind in the Met’s history.

The Assistant Commissioner at Scotland Yard, John Yates, told the press that ‘each box will be treated as a crime scene in its own right’. Named Operation Rize, the police offensive is ‘a money-laundering investigation, one of the biggest ever undertaken in the United Kingdom’, John Yates said. ‘In the past, safety deposit boxes have been searched on an individual basis, often resulting in the recovery of guns, drugs and cash. We believe that this operation has the potential to impact upon many layers of serious crime’.

The police were armed, self-evidently, for a reason: if our assumptions are anywhere near correct, they are dealing with the most dangerous and ruthless bunch of financial criminals in the world.

It is a fact that the intensification of criminalist financial operations perpetrated under the overall direction or ‘Black protection’ of the DVD’s George H. W. Bush Sr. and of his criminal intelligence operatives broadened out from Mayfair in the mid-1980s, via a South African connection. The fact that two of the three cited directors of Safe Deposit Centres Limited (Leslie Sieff and Milton Woolf), are from South Africa, is highly significant, not least since they have been resident in the UK since the 1980s and Safe Deposit Centres Limited has been operating for more than 20 years.

Closing down a huge proportion of the criminal intelligence sector’s fraudulent finance ops would indeed necessitate the seizure of the underlying stolen assets, which are believed to have been stashed inter alia in safety lock boxes in Mayfair, Central London.

Hence we suspect that this immense armed police operation, which involves the physical removal from the three sites of actual complete vaults as well as of the lock boxes, all of which are being transported to a secret, heavily guarded location, represents a decisive coup against the criminal classes and will have shocked certain circles rigid. The raids were a closely guarded secret before they happened, but the Metropolitan Police took care to inform the press on the day (Monday).

The forgoing considerations raise the question as to whether the British police have in fact tackled a huge covert intelligence operation that has been running ‘smoothly’ from the very heart of the British capital since the mid-1980s. Are we dealing with a covert Agency operation, an Israeli cover operation, or a joint CIA-Mossad ‘background’ venture, a.k.a. a ‘Megawatt’ front?

It stands to reason that reliance on bank safety lock boxes alone might pose certain problems. In this connection it is understood from several sources that the actual underlying assets tended to be hidden in commercial safety lock boxes, with secondary assets linked to them, held with the banks. That was by no means the norm, but we have been told that it was quite commonplace.

Logic suggests that proprietary commercial safety lock box operations controlled by intelligence operatives functioning under Non-Official Cover (NOC) would be needed, and that such obvious arrangements would be replicated in all the main centres around the world, for convenience.

The British press carried no reports on the ongoing police operation on Wednesday, and our US sources inform us that no information about the raids was monitored in the United States, with the exception of our report. There is no way that such a huge story can be buried overnight unless it has been ordered to be closed down.

We think this happened after it was realised that they could not ‘run’ the police operation under cover of it representing a coordinated offensive against organised crime as understood by the general public. As soon as we hinted at this operation being an escalation of the intelligence war, the story was ‘closed down’ on both sides of the Atlantic.

That reporting on this operation may have been, shall we say, ‘discouraged’ is highly probable if, as we suspect, the very core of the financial criminality has now been seized, and is in the process of being evaluated by British corruption police experts and detectives. As John Yates, the Assistant Commissioner at Scotland Yard, told the UK press for the reports that appeared on Tuesday:

‘This is an unprecedented operation, and my officers have worked tirelessly and methodically, advised throughout by leading counsel, to ensure that this is the right action to take’.

‘The right action to take’ and Mr Yates’ stress on the meticulous care that his officers and staff have been taking legally, represent public indications from Scotland Yard that the measures that are being adopted cannot be challenged legally and that there is not a lot that the perpetrators can do in the face of the reality that their underlying assets may have been seized. Furthermore, the quite astonishing statement by Mr Yates that each lock box is being treated as a separate crime scene, sends a clear signal to the holders of the 7,000 lock boxes that the scope of the UK police enquiries is vast, and may be assumed to impact every corner of the globe.

While the timing of any police investigation and seizure operation is a matter entirely for the police, it is to be noted that the raids ‘just happened’ to coincide with the Settlements process and with ongoing crisis developments in the United States which are causing the criminalised intelligence cadres extreme angst and have been associated with intermittent outbreaks of violence.

Any impediments to the overall Settlements process or other untoward developments that may have occurred on Tuesday may well have represented responses to the drastic developments in London. We understand that some arrests were made in Washington, DC, and possibly New York, yesterday, but this has not been confirmed.

But what is quite clear is that IF this huge UK police operation is what we think it is, namely a body blow to the head of the global corruption serpent (more than just a kick in the pants), one would expect the serpent to try to respond as its guts were being ripped out (metaphor for the physical removal of vaults, lock boxes etc., to the heavily guarded police investigation centre).

More to the point, since the intelligence war rages in the background and is not supposed to spill over into the public consciousness, there is nothing that the criminalist intelligence cadres can do to recover from this situation. We believe that the fallout from the raids will be dramatic, that the raids represent a further huge setback for the criminalised intelligence sector, and that one can state without fear of contradiction that the gloves are off as the showdown gathers momentum.



LEGAL TUTORIAL: The Steps of Common Fraud:

Step 1: Fraud in the Inducement: “… is intended to and which does cause one to execute an instrument, or make an agreement… The misrepresentation involved does not mislead one as the paper he signs but rather misleads as to the true facts of a situation, and the false impression it causes is a basis of a decision to sign or render a judgment” Source: Steven H. Gifis, ‘Law Dictionary’, 5th Edition, Happauge: Barron’s Educational Series, Inc., 2003, s.v.: ‘Fraud’.

Step 2: Fraud in Fact by Deceit (Obfuscation and Denial) and Theft:

• “ACTUAL FRAUD. Deceit. Concealing something or making a false representation with an evil intent [scanter] when it causes injury to another…”. Source: Steven H. Gifis, ‘Law Dictionary’, 5th Edition, Happauge: Barron’s Educational Series, Inc., 2003, s.v.: ‘Fraud’.

• “THE TORT OF FRAUDULENT DECEIT… The elements of actionable deceit are: A false representation of a material fact made with knowledge of its falsity, or recklessly, or without reasonable grounds for believing its truth, and with intent to induce reliance thereon, on which plaintiff justifiably relies on his injury…”. Source: Steven H. Gifis, ‘Law Dictionary’, 5th Edition, Happauge: Barron’s Educational Series, Inc., 2003, s.v.: ‘Deceit’.

Step 3: Theft by Deception and Fraudulent Conveyance:


• “FRAUDULENT CONCEALMENT… The hiding or suppression of a material fact or circumstance which the party is legally or morally bound to disclose…”.

• “The test of whether failure to disclose material facts constitutes fraud is the existence of a duty, legal or equitable, arising from the relation of the parties: failure to disclose a material fact with intent to mislead or defraud under such circumstances being equivalent to an actual ‘fraudulent concealment’…”.

• To suspend running of limitations, it means the employment of artifice, planned to prevent inquiry or escape investigation and mislead or hinder acquirement of information disclosing a right of action, and acts relied on must be of an affirmative character and fraudulent…”.

Source: Black, Henry Campbell, M.A., Black’s Law Dictionary’, Revised 4th Edition, St Paul: West Publishing Company, 1968, s.v. ‘Fraudulent Concealment’.


• ‘FRAUDULENT CONVEYANCE… A conveyance or transfer of property, the object of which is to defraud a creditor, or hinder or delay him, or to put such property beyond his reach…”.

• “Conveyance made with intent to avoid some duty or debt due by or incumbent on person (entity) making transfer…”.

Source: Black, Henry Campbell, M.A., ‘Black’s Law Dictionary, Revised 4th Edition, St Paul: West Publishing Company, 1968, s.v. ‘Fraudulent Conveyance’.


• NASD Rule 3120, et al.
• NASD Rule 2330, et al
• NASD Conduct Rules 2110 and 3040
• NASD Conduct Rules 2110 and IM-2110-1
• NASD Conduct Rules 2110 and SEC Rule 15c3-1
• NASD Conduct Rules 2110 and 3110
• SEC Rules 17a-3 and 17a-4
• NASD Conduct Rules 2110 and Procedural Rule 8210
• NASD Conduct Rules 2110 and 2330 and IM-2330
• NASD Conduct Rules 2110 and IM-2110-5
• NASD Systems and Programme Rules 6950 through 6957

In addition to which Bank of New York Mellon is/was in violation of:
• 97-13 Bank Secrecy Act, Recordkeeping Rule for funds transfers and transmittals of funds, et al.


• Annunzio-Wylie Anti-Money Laundering Act
• Anti-Drug Abuse Act
• Applicable international money laundering restrictions
• Bank Secrecy Act
• Conspiracy to commit and cover up murder.
• Crimes, General Provisions, Accessory After the Fact [Title 18, USC]
• Currency and Foreign Transactions Reporting Act
• Economic Espionage Act
• Hobbs Act
• Imparting or Conveying False Information [Title 18, USC]
• Maloney Act
• Misprision of Felony [Title 18, USC] (1)
• Money-Laundering Control Act
• Money-Laundering Suppression Act
• Organized Crime Control Act of 1970
• Perpetration of repeated egregious felonies by State and Federal public employees and their Departments and agencies, which are co-responsible with the said employees for ONGOING illegal and criminal actions, to sustain fraudulent operations and crimes in order to cover up criminalist activities and High Crimes and Misdemeanours by present and former holders of high office under the United States
• Provisions pertaining to private business transactions being protected under both private and criminal penalties [H.R. 3723]
• Provisions prohibiting the bribing of foreign officials [F.I.S.A.]
• Racketeer Influenced and Corrupt Organizations Act [R.I.C.O.]
• Securities Act 1933
• Securities Act 1934
• Terrorism Prevention Act
• Treason legislation, especially in time of war.

• Please be advised that the Editor of International Currency Review cannot enter into email correspondence related to this or to any of the earlier reports.

We are a private intelligence publishing house and have no connections to any outside parties including intelligence agencies. The word ‘intelligence’ on this website and in all our marketing material is used for marketing/sales purposes only and has no other connotations whatsoever: see ‘About Us’ on the red panels under the Notes on the Editor, Christopher Story FRSA, who has been solely and exclusively engaged as an investigative journalist, Editor, Author and private financial and current affairs Publisher since 1963 and is not and never has been an agent for a foreign power, suggestions to the contrary being actionable for libel in the English Court.


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