Vinod Sekhar

Last updated

Yang Berbahagia Dato'
Vinod Sekhar
Born
Vinod Balachandra Sekhar

6 August 1968
Kuala Lumpur, Malaysia
NationalityMalaysian
SpouseDatin Dr. Winy Sekhar

Vinod Sekhar (born, Vinod Balachandra Sekhar; 6 August 1968) is the Chairman and Chief Executive of the PETRA Group, [1] which is a global conglomerate involved in sustainable industries, with a stated goal of providing "solutions for humanity". PETRA Group's businesses include restaurants, recycling rubber, media and entertainment, agriculture and modular building materials. [2]

Contents

Sekhar is currently being sued by 12 investors and former employees, for alleged fraud, misrepresentation, breach of contract, and acknowledgement of debt. [3] Further, in 2021, the Malaysian Anti-Corruption Commission opened a money laundering and tax evasion investigation into Mr Sekhar's affairs. [4]

Mr Sekhar is the founder of the Vinod Sekhar Foundation that undertakes various initiatives to alleviate poverty, provide healthcare and education, and support the most vulnerable communities including the indigenous, disabled, old folks, children, refugees, and poor. Mr Sekhar has a history of unfulfilled philanthropic commitments including an £8 pledge to Saint Andrews Medical School in 2010 as well as supplying 200,000 COVID vaccines in 2021. In fact, Mr Sekhar has a history of profiting from the sale of medical devices and allegedly purchased a $17.5M yacht with proceeds from the sale of ventilators during the COVID pandemic. [5]


He was named by Forbes magazine as Malaysia's 28th richest man in 2009. [6]

The title of Dato' was given to Sekhar at the age of 26 by Yang di Pertuan Besar of Negeri Sembilan, Tuanku Ja'afar on his 71st birthday, who was at that time the 10th Yang di Pertuan Agong of Malaysia.

Education

He attended Haileybury and Imperial Service College [7] [8] He started a non-partisan multiracial youth organisation, Malaysian Muda. He remained president for two terms. [9]

Businesses

Sekhar was 21 when he started his business career with just US$50 when he put up his own clothing company called Vincent Siefer Clothing Company that sold college embossed shirts to university students in different American universities. He later claimed he sold his clothing company for US$5 million. [10]

In 1990, Sekhar formed Sekhar Tunku Imran (STI) Group together with his friend, Tunku Tan Sri Imran and entered various business ventures. One of the most notable business deals that STI had was a joint venture with Disney-MGM Studios in Florida, USA to produce the movie entitled 'Tarzan, The Epic Adventure'. [11] Tunku Tan Sri Imran was declared bankrupt in 2005. [12]

The Petra Group is a privately held company known for Green Rubber Global, the company's key business which it claims has a cost-effective process that can efficiently recycle used rubber. In 2019, it was reported that an Irish national, John Slattery sued Sekhar to claim the US$108,000 which Slattery had paid in 2017 as an investment into Green Rubber Sdn Bhd. [13] There is currently an ongoing lawsuit against Mr. Sekhar and Green Rubbher Global allegeding fraud. [14] In 2021, Petra Group claimed to have procured 400 million Sinovac vaccines from China for free distribution. Malaysian government dismissed the claim and found no evidence for its basis. [15] A 2008 lawsuit against Sekhar and Green Rubber Global alleged fraud against him. [16]

In September 2020, Sekhar launched The Vibes, an online news publication covering Malaysian news. [17] The news publication was spearheaded by Terence Fernandez, former managing editor of Malay Mail, alongside many former journalists from major publications. However, they have subsequently left the portal. [18]

Film works

In 2013, Sekhar produced the Indian film Liar's Dice [19] which features the story of Kamala, a young woman from Chitkul village and her girl child Manya, who embarks on a journey leaving their native land in search for her missing husband. [20] He has also launched the production company Petra Films which produces the Golden Horse Award-nominated film The Sunny Side of the Street in its debut outing. [21]

Philanthropy

Sekhar is the founder of the Vinod Sekhar Foundation, which was founded to undertake various initiatives to alleviate poverty, provide healthcare and education, and support the most vulnerable communities including the indigenous, disabled, old folks, children, refugees, and poor. [22] However the Foundation has no website so the claims are impossible to verify. Sekhar has a history of unfulfilled philanthropic commitments, including a £2.5 million towards the British charity 'Hopes and Homes for Children' in 2008 and an £8 million pledge to Saint Andrews Medical School in 2010 neither of which materialised. He also pledged to donate 200,000 COVID vaccines in 2021 which never arrived. [23] [24] [25]

Sekhar allegedly purchased a $17.5 million yacht with proceeds from the sale of ventilators during the COVID pandemic. [26] [27]

Personal life

Sekhar is the youngest son of Sukumari Nair and B.C. Sekhar, also known as Mr. Natural Rubber, who, for a time, provided significant inputs in the global natural rubber industry. He has three siblings. He is married to Winy Sekhar with whom he has two daughters, Petra and Tara. [28] [29]

His wife, Winy Yeap Liew Heoh, is the great-granddaughter of the banker Yeap Chor Ee, and is also cited as a co-defendant in the ongoing 2024 lawsuit for alleged fraud. [3]

Sekhar is noted to be a 'close friend' of the Malaysian Prime Minister [30]

He also plays golf with a 22 handicap. [11]

Lawsuits and Malfeasance

In 2024, a group of 12 investors and former employees sued Datuk Vinod Sekhar, for alleged fraud, misrepresentation, breach of contract and an acknowledgement of debt. The plaintiffs are seeking just under MYR30 million, inclusive of interest.

The plaintiffs, who are from across the globe, including the US, Panama, the UK, Dubai and Thailand, allege that Datuk Vinod persuaded them to invest in his Green Rubber business, despite not informing them of his status as a bankrupt at the material times.

In December 2023, an attempt by Datuk Vinod to persuade the court to issue a publicity injunction to prevent the plaintiffs from discussing the case in public, was thrown out by the High Court Judge in Kuala Lumpur. A parallel motion to get the action dismissed was also thrown out, removing the last obstacle that might have prevented the case going for full trial at the High Court.

The plaintiffs decided to launch the legal action after it emerged that the Malaysian Anti-Corruption Commission had opened a money laundering and tax evasion investigation into Datuk Vinod’s affairs in November 2021.

The decision was also taken after reports in February 2022 that Datuk Vinod sold Chinese-made ventilators to the Hungarian government at many times the market price during the onset of the COVID-19 pandemic. It has been reported in the media that British doctors had warned that these ventilators could cause patient deaths.

In papers submitted to the High Court, the plaintiffs allege that Datuk Vinod had provided reassurances that one “Anwar”, understood to be Malaysian Prime Minister Dato’ Seri Anwar bin Ibrahim, would resolve any issue relating to his status as a bankrupt at the material times.

The writ also references Petra Equities Management Sdn Bhd (PEMSB), a company within the Petra Group of businesses operated by Datuk Vinod, which apparently included the Green Rubber business. A director of that company was Tengku Muiniddin Putra.

Another associated company listed in the legal action is Petra Equities Sdn Bhd (PESB). The Chairman of that company was Y.A.M. Tan Sri Tunku Imran Ibni Tuanku Ja’afar. [31]

Awards and honours

RecognitionRecognition Giving BodyYear
Corporate Leader of the YearSJ Grant Thornton2008 [32]
16th Richest Man in MalaysiaForbes magazine2008 [33]
Product/Industrial Design AwardGlobal Green USA2008 [34]
Community Leadership AwardGlobal Organization for People of Indian Origin (GOPIO)2010 [35]
Person of The YearAsiaOne Magazine2020[ citation needed ]

Related Research Articles

<span class="mw-page-title-main">Johnson & Johnson</span> American multinational pharmaceutical and consumer goods corporation

Johnson & Johnson (J&J) is an American multinational pharmaceutical, biotechnology, and medical technologies corporation headquartered in New Brunswick, New Jersey, and publicly traded on the New York Stock Exchange. Its common stock is a component of the Dow Jones Industrial Average, and the company is ranked No. 40 on the 2023 Fortune 500 list of the largest United States corporations. In 2023, the company was ranked 40th in the Forbes Global 2000. Johnson & Johnson has a global workforce of approximately 130,000 employees who are led by the company's current chairman and chief executive officer, Joaquin Duato.

<span class="mw-page-title-main">Vinod Khosla</span> Indian-American businessman (born 1955)

Vinod Khosla is an Indian-American billionaire businessman and venture capitalist. He is a co-founder of Sun Microsystems and the founder of Khosla Ventures. Khosla made his wealth from early venture capital investments in areas such as networking, software, and alternative energy technologies. He is considered one of the most successful and influential venture capitalists.

<span class="mw-page-title-main">Tengku Razaleigh Hamzah</span> Malaysian politician (born 1937)

Tan Sri Dato' Sri Tengku Razaleigh bin Tengku Mohd Hamzah is a Malaysian politician who served as the Member of Parliament (MP) for Gua Musang from August 1986 to November 2022 and for Ulu Kelantan from August 1974 to August 1986. He is the longest-serving MP to date, serving from 1974 until 2022, for 48 years in a row. He is sometimes referred to as the Father of Malaysian Economic Development for playing a pivotal role in establishing and implementing key foundations and policies in Malaysian economy. A descendant of Malay royalty, he is a great-uncle of the current Sultan of Kelantan, Sultan Muhammad V.

McKesson Corporation is a publicly-traded American company that distributes pharmaceuticals and provides health information technology, medical supplies, and health management tools. The company delivers a third of all pharmaceuticals used in North America and employs over 51,000 employees. With $308.9 billion in 2024 revenue, it is the ninth-largest company by revenue in the United States and the nation's largest health care company. The company is headquartered in Irving, Texas. It is a member of the S&P 500 and New York Stock Exchange, where it is traded under the ticker symbol NYSE: MCK.

<span class="mw-page-title-main">Sime Darby</span> Malaysian trading conglomerate

Sime Darby Berhad is a Malaysian trading conglomerate. Its core businesses operate and serve in the industrial, motors and logistics sectors as well as the healthcare, and insurance segments.

<span class="mw-page-title-main">Wangsa Maju</span> Township in Federal Territory of Kuala Lumpur, Malaysia

Wangsa Maju is a township and a constituency in Kuala Lumpur, Malaysia. This area is surrounded by Setapak, Taman Melati and Gombak district in Selangor. Wangsa Maju is one of the major suburbs in Kuala Lumpur.

<span class="mw-page-title-main">2007 in Malaysia</span> List of events

This article lists important figures and events in Malaysian public affairs during the year 2007, together with births and deaths of notable Malaysians. 2007 marked 50 years of Malaysian independence.

<span class="mw-page-title-main">Arif Naqvi</span> British Pakistani businessman (born 1960)

Arif Masood Naqvi is a Pakistani-Kittian businessman, who was the founder and chief executive of the Dubai-based private equity firm, The Abraaj Group and Aman Foundation. The Abraaj Group was founded in 2002 and operated in Africa, Asia, Latin America, Middle East, Turkey and Central Asia, and is currently in liquidation due to accusations of fraud.

<span class="mw-page-title-main">Andrew Witty</span> British business executive (born 1964)

Sir Andrew Philip Witty is a British business executive, who is the chief executive officer (CEO) of UnitedHealth Group. He was the CEO of GlaxoSmithKline between 2008 and 2017. He formerly held the role of chancellor of the University of Nottingham.

<i>The Malaysian Insider</i> Malaysian bilingual news site

The Malaysian Insider was a Malaysian bilingual news site. During its peak, it ranked consistently as one of the country's 100 most popular websites. In June 2009, Alexa ranked it as Malaysia's 57th most popular website. Compete.com estimated that it had almost 19,000 unique visitors in April 2009.

<span class="mw-page-title-main">Ismail Sabri Yaakob</span> Prime Minister of Malaysia from 2021 to 2022

Dato' Sri Ismail Sabri bin Yaakob is a Malaysian lawyer and politician who served as the ninth Prime Minister of Malaysia from 2021 to 2022. He is both the shortest-serving prime minister, and shortest-serving deputy prime minister. He is also the first prime minister born after the independence of Malaya, the first former Leader of the Opposition to become prime minister, the only prime minister who did not hold the highest position of the governing party or coalition, and the only prime minister to serve without a deputy.

<span class="mw-page-title-main">Rosmah Mansor</span> Wife of Malaysian politician Najib Razak

Rosmah binti Mansor is the second wife of former Prime Minister of Malaysia, Najib Razak. Like her husband, she was implicated in the 1Malaysia Development Berhad scandal (1MDB). On 1 September 2022, she was found guilty of corruption in relation to a school electricity project, fined $303m and sentenced to ten years imprisonment.

<span class="mw-page-title-main">Tunku Imran</span> Negeri Sembilanian Royal and Olympian

Tunku Tan Sri Imran ibni Almarhum Tuanku Ja’afar is a member of Negeri Sembilan royal family who is the Tunku Muda Serting. He is the grandson of the first King of Malaysia, the late Tuanku Abdul Rahman. His father the late Tuanku Ja'afar, was also the 10th King of Malaysia. He was born as the second son of Tuanku Ja’afar, the 10th Yang di-Pertuan Besar of Negeri Sembilan, Malaysia. He is often unofficially known in English as Prince Tunku Imran.

<span class="mw-page-title-main">Ong Kean Swan</span> Malaysian-Chinese businessman (born 1982)

Peter Ong Kean Swan is a Malaysian-Chinese businessman. His companies were essentially pyramid schemes, and have been banned in China, Malaysia and Taiwan due to alleged fraud.

A securities class action (SCA), or securities fraud class action, is a lawsuit filed by investors who bought or sold a company's publicly traded securities within a specific period of time and suffered economic injury as a result of violations of the securities laws.

Robbins Geller Rudman & Dowd LLP is an American law firm headquartered in San Diego, California. It is a plaintiffs law firm specializing in securities litigation and shareholder rights cases.

<span class="mw-page-title-main">Jared Woodfill</span> American lawyer

Jared Ryker Woodfill V is a Texas lawyer and political figure who was chairman of the Harris County Republican Party from 2002 to 2014. He was elected chairman of the county party for six two-year terms. After being ousted from the chairmanship of the county party in 2014, Woodfill launched two unsuccessful campaigns for the chairmanship of the Texas Republican Party. Woodfill is known for his socially conservative views and activism, including his opposition to the Houston Equal Rights Ordinance, which was repealed in a 2015 referendum.

Children's Health Defense (CHD) is an American 501(c)(3) nonprofit activist group mainly known for anti-vaccine disinformation, and which has been called one of the main sources of misinformation on vaccines. Founded under the name World Mercury Project in 2007, it is chaired by Robert F. Kennedy Jr. The group has been campaigning against various public health programs, such as vaccination and fluoridation of drinking water. The group has been contributing to vaccine hesitancy in the United States, encouraging citizens and legislators to support anti-vaccine regulations and legislation. Arguments against vaccination are contradicted by overwhelming scientific consensus about the safety and effectiveness of vaccines. Its $15-million budget is funded through donations from individuals and affiliate marketing revenues.

<span class="mw-page-title-main">International aid related to the COVID-19 pandemic</span>

Due to its severity, the COVID-19 pandemic has caused countries to send aid, as part of the international responses and management regarding the pandemic. Types of materials aided includes masks, medical supplies, personal protective equipment, money, and test kits. It started with aid to China as the virus spreads primarily there, and then internationally as it spreads globally. The destination of the aid ranges from hospitals, COVID-19 healthcare workers, research on the vaccine, to societies vulnerable. People donating includes the government of said country, notable people, organizations and institutions, charities, as well as regular people.

References

  1. ↑ "About | Social Capitalism Company Malaysia". PETRA Group. Retrieved 9 August 2022.
  2. ↑ Staff Reporter (9 July 2020). "Green Rubber Global - the next generation business by Vinod Sekhar". Olive Press News Spain. Retrieved 9 August 2022.
  3. 1 2 Khairulrijal, Rahmat (5 February 2024). "[Updated] Vinod Sekhar sued by investors, ex-employees for fraud | New Straits Times". NST Online.
  4. ↑ "Businessman's Bangsar offices raided in major money laundering, tax evasion probe". MalaysiaNow. 29 November 2021.
  5. ↑ https://www.malaysianow.com/news/2021/05/20/man-behind-free-vaccines-offer-has-history-of-unfulfilled-pledges
  6. ↑ "Malaysia's 40 Richest". Forbes. Retrieved 9 August 2022.
  7. ↑ "Malaysian work experience offer for six pupils". Haileybury and Imperial Service College. Retrieved 15 August 2010.
  8. ↑ "Malaysia in the Asian Century: The Challenges we all face", in: Frank-Jürgen Richter and Thang D. Nguyen: The Malaysian Journey, Marshall Cavendish 2004.
  9. ↑ "Vinod Sekhar". Green Leaders Summit.
  10. ↑ "VinodSekhar.com". VinodSekhar.com. Retrieved 25 October 2021.
  11. 1 2 Roop, Sharma. "Vinod Sekhar : Malaysia's most prominent businessmen, philanthropists". NRI Internet. Retrieved 30 May 2007.
  12. ↑ https://www.thestar.com.my/news/nation/2005/09/15/court-declares-tunku-imran-bankrupt
  13. ↑ Har (13 September 2019). "Petra Group boss not home, bailiff fails to execute arrest warrant". Malaysiakini. Retrieved 2 February 2022.
  14. ↑ https://malaysiansmustknowthetruth.blogspot.com/2024/02/petra-group-boss-sued-plaintiffs-eye.html#
  15. ↑ Adam, Ashman (19 May 2021). "After Khairy reveals 'bogus' Covid-19 vaccine contribution, Petra Group says unaffiliated with other donors | Malay Mail". malaymail.com. Retrieved 5 February 2022.
  16. ↑ https://www.reuters.com/article/lifestyle/bruce-willis-sues-over-green-rubber-investment-idUSTRE4AL0E3/ [ bare URL ]
  17. ↑ "Vinod Sekhar launches The Vibes, a new site covering Malaysian news". BEAMSTART - Uplifting Lives Through Entrepreneurship. Retrieved 1 December 2020.
  18. ↑ "Vibes news portal launched". dailyexpress.com.my. 22 September 2020. Retrieved 1 December 2020.
  19. ↑ "Vinod Sekhar". IMDb. Retrieved 16 June 2020.
  20. ↑ Liar's Dice (2013) - IMDb , retrieved 16 June 2020
  21. ↑ Wong, Silvia. "How 'Borrowed Time' and 'The Sunny Side of the Street' rose through the HAF ranks". Screen. Retrieved 27 September 2022.
  22. ↑ "SMEs, traders to benefit under foundation program". Borneo Post Online. 21 September 2020. Retrieved 9 August 2022.
  23. ↑ "Medical school in £8m pledge wait". BBC News. 17 February 2010.
  24. ↑ MacDonald, James Ashton and Stuart (12 March 2024). "University of St Andrews' £8m donor fails to deliver". The Times. London.
  25. ↑ "Man behind free vaccines offer has history of unfulfilled pledges". MalaysiaNow. 20 May 2021.
  26. ↑ "Revealed: Warning by medical experts over ventilators sold to Hungary by Malaysian businessman". MalaysiaNow. 4 February 2022.
  27. ↑ "Hungarian COVID-19 ventilator procurement mired in corruption". intellinews.com. 30 August 2023.
  28. ↑ "Malaysian Rubber Industry Pioneer B.C. Sekhar Dies". One India News. Retrieved 7 September 2006.
  29. ↑ "47m Admiral motor yacht PetraTara sold". boatinternational.com.
  30. ↑ "The return of Vinod Sekhar (Part 2): Friends with everyone - Focus Malaysia". focusmalaysia.my. 18 June 2021.
  31. ↑ https://www.nst.com.my/news/crime-courts/2024/02/1010019/updated-vinod-sekhar-sued-investors-ex-employees-fraud https://focusmalaysia.my/investors-former-employees-suing-vinod-sekhar-rm30m-for-alleged-fraud-potential-witnesses-include-pm-anwar/
  32. ↑ "SJ Grant Thornton Awards its inaugural Corporate Leader of the Year".
  33. ↑ "Malaysia's Richest No. 16 Vinod Sekhar". Forbes.com. Retrieved 21 May 2008.
  34. ↑ "Global Green and the Sustainable Development Goals". Global Green. 8 October 2020.
  35. ↑ "7 Indian-origin persons to get GOPIO award". Rediff News. Retrieved 28 December 2009.
This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.