Astrologer files RM307m suit
Alam Faizli
Thursday March 15, 2001
Astrologer files RM307m suit
By Hemala Devaraj
hem...@thesundaily.com
KUALA LUMPUR, Wed: A financial astrologer and two companies have filed
a RM307.45 million negligence suit against accounting giant
PricewaterhouseCoopers and two others.
Ramesh Chelliah or "Chiron", Key West Global Ltd and Premier Feature
Sdn Bhd are suing PricewaterhouseCoopers (Public Accountants)
PricewaterhouseCoopers Consulting Sdn Bhd and their managing director
Chin Kwai Fatt for failing to provide them with a memorandum needed to
secure investors for the setting up of a website.
Chelliah, who owns Key West Global Ltd, uses astrological methods to
forecast the movements of global financial markets. Premier Feature is
the registered owner of the financial astrology website
"Monthsahead.com" he intended to set up.
Chelliah's associate M. Sivakumaran and lawyer K. Kulasekar filed the
suit at the Civil Registry in Wisma Denmark this afternoon.
Chelliah, 33, has appeared on Bloomberg Television to introduce the
"Chiron Method" where unique financial techniques and planetary cycles
are used to forecast stock prices listed in financial markets.
O n July 14 last year, for the purposes of securing an investor for
the website, Chelliah signed a deal with PricewaterhouseCoopers to
prepare a business plan, assess the potential business value and
negotiate and structure deals on behalf of the site.
About a month later, Chelliah said he received a "draft valuation
memorandum" prepared by the defendants which among other particulars
stated there was a 80% probability of that website achieving a revenue
of around RM400 million between 2001 and 2003.
Chelliah claims that subsequently Ramesh Rajaratnam, project manager
of PricewaterhouseCoopers tried to get him to sign a "calculation
memorandum" for the purpose of securing investors, which according to
Chelliah, has no commercial value .
Arising from the agreement, Chelliah further claims he handed "Dow
Jones documents" comprising "Dow Jones flow charts" and the "Workings
of the Dow Jones flow charts" to Rajaratnam which have yet to be
returned to him, causing him grievous loss and damage.
He claims that those documents are the only compilation available and
it is the basis of these daily workings in the past that the flow
charts for the Dow Jones Industrial Average for the future can be
forecast.
Besides special damages, Chelliah, is seeking the return of the "Dow
Jones documents", general, aggravated damages and costs.
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