Part 2: PricewaterhouseCoopers LLP, owners of the name PricewaterhouseCoopers knew about the fraud in PwC in Malaysia , and did nothing about it, here's the evidence!

This is from documents that we have just received in the past few days. The documents will show how PricewaterhouseCoopers LLP and their Office of the General Counsel in New York, knew about the ongoing fraud by PwC in Malaysia back in 2003, but chose to do nothing about it!


Continued from Part 1

Mr Andrew Plunkett, Assistant General Counsel for PricewaterhouseCoopers LLP, subsequent to your reply in March of 2003 as shown in Part 1, your attention was brought to the contents of two other documents which are pertinent to the questions raised, in a letter in May of 2003.

i) Letter dated 2nd of December,2002, from solicitors of PricewaterhouseCoopers stating as follows:

"...(PricewaterhouseCoopers Consulting Pte Ltd {Sdn Bhd} (464379-U)) is still known and will continue in the foreseeable future to be known as PricewaterhouseCoopers Consulting Pte Ltd {Sdn Bhd} (464379-U)

ii) Letter dated 12th of December, 2002, from PricewaterhouseCoopers Consulting Pte Ltd (464379-U) to its solicitors whereby PricewaterhouseCoopers Consulting Pte Ltd (464379-U) confirmed that it has appointed and will continue to appoint its present solicitors to act on its behalf in respect........

 We are instructed to state that in light of comprehensive information disseminated to the Global public and the quoted sworn evidence of ................. , there is inexplicable inconsistency between the factual matrix of the global sale and the statement issued by your office....... "

And here is your reply:

Mr Andrew Plunkett of the Office of General Counsel for PricewaterhouseCoopers LLP, replies to allegations against PwC in Malaysia with regards to the acquisition of the Global Consulting arm of PricewaterhouseCoopers by IBM Corp.

 At this point in time it will be necessary to address these questions to Mr Paul Boorman and Dr Coenraad Van Beek, the Global Leaders for Operations and Ethics/Business Conduct respectively for PricewaterhouseCoopers.

 

 

Mr Paul Boorman, Global Leader -Operations for PricewaterhouseCoopers

Dr Coenraad Van Beek, Global Leader for Ethics and Business Conduct for PricewaterhouseCoopers

Gentlemen, 7 years ago, PricewaterhouseCoopers LLP, and its Office of General Counsel,  stayed silent on the

1. fraud committed in renaming  a company known as PricewaterhouseCoopers Consulting (East Asia) Sdn Bhd as PwC Consulting Malaysia Sdn Bhd (289801-A) on 20-11-2001  to be sold as the Consulting arm for PricewaterhouseCoopers in Malaysia, 
2. in the appointement of  "Sham Directors"  for the same company,
3. in the appointment of tainted auditors for the liquidation of that same company, 
4. continued existence of PricewaterhouseCoopers Sdn Bhd (464379-U), to defraud its creditors, under the Directorship of current Senior Partners of PwC Malaysia .

are you going to take any action now?

If we look at your report for FY2010 , we see that your revenues of 26.5 Billion US Dollars is for the greater part from your businesses in Europe and North America, and that Asia as a whole is only a small contributor. Is that reason enough to continue to ignore the ongoing fraud by those that represent the name PricewaterhouseCoopers in this small Asian country? 



Why the need for a Global Code of Conduct then, when the Code of Conduct can be neglected with seeming impunity by the Country Manager, Mr Chin Kwai Fatt and his cohorts here?

In fact, should it not also be asked if Andrew Plunkett, the Assistant General Counsel for PricewaterhouseCoopers LLP has violated the Code of Conduct? Does not the Code say thus:


"It is the responsibility of each of us to follow the Code of Conduct and PwC policies consistently and appropriately and help others to do so. When non-compliance with our Code of Conduct is reported or otherwise suspected, steps will be taken to investigate and, if
appropriate, remedy the situation."
When on the one hand PricewaterhouseCoopers gave all manners of assurances to the SEC in America and the EEC in Europe, to get the green light for the sale of its Consulting Business to IBM Corp, how could it on the other hand, just dismiss very clear and pertinent questions of fraud with regards to the same in Malaysia, a small part of Asia?

How can the Global Leaders and the Senior Partners of PricewaterhouseCoopers continue to stay silent in the face of fraud. Or should there be a need for even further evidence of fraud to be brought into light before any action be taken, or the silence broken?