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SURREY, British Columbia, Canada – A director on the board of Khalsa Credit Union (KCU) has been removed for a second time for suspected terrorist activities. The Superintendent of Financial Institutions Commission (FIC) Alan Clark has issued a Summary Order that Ripudaman Singh Malik be removed based on their investigation. In a report the FIC concluded Malik has terrorist connections, had provided false or misleading information before the Supreme Court, had provided false information to a financial institution and had created false information for mortgage applications, making him unfit to serve as a director of KCU. Malik was one of the founders of KCU in February 1986. KCU has since grown to five branches with 16,000 members. It has CND $110(US$94.4) million in assets. KCU provides services to the Sikh community. Malik stayed on the board until October 2000 when he was charged with 331 counts of murder in the bombing of Air India Flight 182. The plane exploded June 23, 1985 some 31,000 feet in the air south of Ireland. The bombing was linked to the Barbbar Khalsa Militant Group. Malik was found not guilty on March 14, 2005. The board of KCU reappointed Malik as a director on May 14, 2005 and sent a letter to FIC’s Superintendent notifying them of their decision and providing the required information. Not happy with the reappointment and based on information that had surfaced during the trial, FIC launched its own investigation into Malik’s suitability to be a credit union director. They concluded that Malik had applied for membership with Babbar Khalsa International (BKI) based on an application to that organization dated June 2, 1985. The Canadian Government designates BKI as a terrorist group. FIC claims Malik gave funds to his brother Talwinder Singh Parmar, a BKI leader. Malik also gave false information at a Supreme Court hearing, according to FIC. They say in December 2000 he listed his and his wife’s joint net worth at CND$11.6 (US$9.9) million. At a subsequent hearing where Malik applied for funding from the Crown for his defense in a document called the Rowbotham Application, he showed no net worth and claimed he was unable to pay for his own defense. His case asking for defense funds was heard before Madame Justice Stromberg-Stein. In September 2003 Madam Justice Stromberg-Stein issued her findings which stated, “the evidence shows that Mr. Malik and his family have tried to arrange his financial and business affairs to minimize the value of his estate to render him insolvent, and thereby limit the amount of his contribution, and/or to eliminate that obligation entirely.” In an interview at the FIC on Sept. 15, 2005 with a person identified only as Parmar, an incident of falsified documentation was revealed. Parmar stated that he was given a mortgage by Vancity Credit Union on property that he already owned. The FIC order reads “.Malik has provided him (Parmar) with a false employment letter to facilitate his obtaining a mortgage.” Parmar also stated according to the FIC order, “the proceeds went directly to Malik and that Malik made the payments on this mortgage.” That Malik contributed CND$1648 (US$1413) in mortgage payments for the Vancity mortgage issued to Malik was confirmed when FIC reviewed Parmar’s accounts. As a result of the findings from their investigation, the FIC superintendent issued the Summary Order to remove Malik from the board. Local newspaper articles have said that Malik tends to contest the Summary Order. -

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