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U.S. v. Joo Hyun Bahn, Ban Ki Sang, and Malcolm Harris

 
:
Malcolm Harris
:
DOJ Criminal
:
January 10, 2017
:
U.S. v. Joo Hyun Bahn, Ban Ki Sang, and Malcolm Harris
:
U.S. v. Malcolm Harris, No. 1:16-cr-831 (S.D.N.Y. 2016).
:
Real Estate-Other/Multi
:
South Korea, United States, Viet Nam
:
2013; 2014; 2015.
:
Unnamed foreign official.
:
According to the DOJ, Malcolm Harris is a U.S. citizen and self-described “arts and fasion consultant and blogger” residing in New York. Joo Hyun Bahn (“Bahn”), also known as Dennis Bahn, was a commercial real estate broker in New York, New York. Ban Ki Sang (“Ban”), Bahn’s father, was a senior executive at a South Korean construction company, Keangnam Enterprises Co., Ltd. Keangnam built and owned Landmark 72, a commercial building in Hanoi, Vietnam.

The DOJ claims that beginning in 2013, Keangnam began searching for an investor to buy or refinance Landmark 72 for approximately $800 million to ease liquidity problems it was facing at the time. Ban allegedly convinced his company to enter an exclusive broker agreement with his son and his realty firm that offered a multi-million dollar commission upon completion.

In his search for investors, Bahn allegedly initiated discussions with Harris, who claimed to have connections to the royal family of a Middle Eastern country. According to the DOJ, Harris offered to use his connections to secure the investment of the country’s sovereign wealth fund in Landmark 72 in exchange for a portion of Bahn’s commission from the sale. As part of the scheme, Bahn and his father allegedly arranged for Keangnam to pay a $500,000 commission-advance to Bahn’s firm, which Bahn then passed to Harris to be ostensibly used as a bribe in hopes of finalizing the investment in Landmark 72. According to the DOJ, upon receipt of the $500,000, Harris pocketed the funds for himself, never having intended to complete the bribery scheme.

On January 10, 2017, the DOJ unsealed its charges filed against Bahn, Ban, and Harris in the Southern District of New York. Harris was charged with wire fraud, money laundering, and aggravated identify theft.
:
Money Laundering, Wire Fraud
:
Not stated.
:
0
:
U.S.
:
United States
:
Other Business Advantage
:
Not stated.
:
Cash, Wire/check
:
Sales Agent/Consultant
:
2,500,000
:
United States
:
No
:
No