US Navy commander accepted paid travel, prostitutes and Lady Gaga tickets

SAN DIEGO // A US Navy commander charged with accepting paid travel, prostitutes and Lady Gaga concert tickets from a Malaysian defence contractor in exchange for classified information pleaded guilty on Thursday to federal corruption charges.

Commander Michael Vannak Khem Misiewicz appeared in US District Court in San Diego to answer to charges of conspiracy to commit bribery and bribery of a public official stemming from his involvement in a scandal surrounding a contractor who serviced ships in the Navy’s Pacific Fleet.

Cmr Misiewicz admitted to providing Malaysian businessman Leonard Francis, known to friends as “Fat Leonard”, classified information worth millions of dollars. He was born in Cambodia during the Vietnam War and gained media attention for his rise to captain of a US Navy destroyer.

The information he gave to Francis included ship movements and helping arrange visits by US Navy vessels to ports where Francis’ company, the Singapore-based Glenn Davis Marine Asia Ltd, had contracts to provide tugboats, security, fuel, waste removal and other services, prosecutors said.

In exchange, Francis furnished Misiewicz with such gifts as travel, entertainment, luxury hotel stays and five tickets to a Lady Gaga concert in Thailand in May 2012, the complaint said.

“In exchange for luxury holidays, gifts and other expenses, Commander Misiewicz betrayed his oath, the men and women of the US Navy, and American taxpayers by directing lucrative government contracts to his financial patron,” Assistant Attorney General Leslie Caldwell said in a statement.

Francis pleaded guilty to bribery in January 2015 and agreed to forfeit US$35 million in ill-gotten gains. According to that plea agreement, Francis paid about $500,000 in bribes to Navy officials.

The complaint against Misiewicz described the two men as developing a close friendship in which Misiewicz referred to Francis by such terms as “Big Brother,” “Big Bro” or “BB” and the defence contractor called him “Little Brother,” “Little Bro” or “LB”.

Misiewicz was formerly a deputy operations officer for the US commander of the Seventh Fleet, which oversees operations over some 48 million square miles extending from Japan to Diego Garcia in the Indian Ocean and from Vladivostok, Russia, to Australia.

He had been commanding officer of the USS Mustin, a forward-deployed guided-missile destroyer, before that assignment.

According to a 2010 US Navy release, Misiewicz grew up near Phnom Penh during the Vietnam War and was adopted by an American woman shortly before the Khmer Rouge came to power in 1975.

* Reuters

Real estate tokenisation project

Dubai launched the pilot phase of its real estate tokenisation project last month.

The initiative focuses on converting real estate assets into digital tokens recorded on blockchain technology and helps in streamlining the process of buying, selling and investing, the Dubai Land Department said.

Dubai’s real estate tokenisation market is projected to reach Dh60 billion ($16.33 billion) by 2033, representing 7 per cent of the emirate’s total property transactions, according to the DLD.

UAE currency

Credit Score explained

What is a credit score?

In the UAE your credit score is a number generated by the Al Etihad Credit Bureau (AECB), which represents your credit worthiness – in other words, your risk of defaulting on any debt repayments. In this country, the number is between 300 and 900. A low score indicates a higher risk of default, while a high score indicates you are a lower risk.

Why is it important?

Financial institutions will use it to decide whether or not you are a credit risk. Those with better scores may also receive preferential interest rates or terms on products such as loans, credit cards and mortgages.

How is it calculated?

The AECB collects information on your payment behaviour from banks as well as utilitiy and telecoms providers.

How can I improve my score?

By paying your bills on time and not missing any repayments, particularly your loan, credit card and mortgage payments. It is also wise to limit the number of credit card and loan applications you make and to reduce your outstanding balances.

How do I know if my score is low or high?

By checking it. Visit one of AECB’s Customer Happiness Centres with an original and valid Emirates ID, passport copy and valid email address. Liv. customers can also access the score directly from the banking app.

How much does it cost?

A credit report costs Dh100 while a report with the score included costs Dh150. Those only wanting the credit score pay Dh60. VAT is payable on top.

WHAT IS A BLACK HOLE?

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2. They can be created when massive stars collapse under their own weight

3. Large black holes can also be formed when smaller ones collide and merge

4. The biggest black holes lurk at the centre of many galaxies, including our own

5. Astronomers believe that when the universe was very young, black holes affected how galaxies formed

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