Owner of limo company involved in fatal US crash was FBI informant


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The owner of a limousine company in the crash that killed 20 people was someone already familiar to law enforcement, but not in the way you might think.

Prestige Limousine is owned by Pakistani immigrant Shahed Hussain, according to federal transportation records. Before the crash, the authorities knew him best as a paid informant of domestic terrorist threats after the September 11 attacks.

Mr Hussain's company said on Monday it is investigating what caused Saturday's crash in Schoharie, New York, and had met state and federal authorities.

In 2009, the government credited Mr Hussain with rooting out extremists in an elaborate sting at a mosque in Newburgh, a city north of New York. At a trial, the jury heard testimony that Mr Hussain posed as a wealthy representative of a Pakistani terrorist organisation.

He drove a BMW and other luxury vehicles provided by the FBI to maintain his cover. He also made hundreds of hours of video and audio tapes of the defendants picking targets for attacks and ranting against Jews. His co-operation resulted in the conviction of four men in a thwarted plot to attack synagogues and shoot down military planes.

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But Mr Hussain's work was attacked by defence lawyers and civil liberties groups as entrapment. They portrayed him as a master manipulator who entrapped a group of aimless nobodies while earning $96,000 for his work.

Even US District Judge Colleen McMahon said at sentencing that she was not proud of the government's role in the plot.

"I believe beyond a shadow of a doubt that there would have been no crime here except the government instigated it, planned it and brought it to fruition," Judge McMahon said. She added: "That does not mean there was no crime."

According to his own trial testimony, Mr Hussain first entered the US in Texas with his wife and two sons in the 1990s and went to Albany, where he received asylum. In April 2003, he was working as a government translator when he pleaded guilty to a federal fraud charge for helping someone get their driver's license illegally.

He received a sentence that required no more jail time if he worked as an FBI informant.

Mr Hussain was a central player in an FBI sting targeting an Albany pizza shop owner and an imam who were convicted of money laundering and conspiring to aid a terrorist group. Both defendants said they were tricked by Mr Hussain during the sting, which involved a business loan using money from a fictitious missile sale.

More recently, a botched sting involving Mr Hussain in Pittsburgh became the subject of a documentary called (T) error. The target described on Facebook how after meeting the informant he had the "feeling that I had just played out a part in some Hollywood movie where I had just been introduced to the leader of a 'terrorist' sleeper cell".

Asked Monday about Mr Hussain, the FBI would not comment.

A stretch limousine owned by Mr Hussain's company was taking 18 people to a 30th birthday party in New York when it crashed on Saturday killing all the occupants, and two pedestrians.

Day 1, Dubai Test: At a glance

Moment of the day Sadeera Samarawickrama set pulses racing with his strokeplay on his introduction to Test cricket. It reached a feverish peak when he stepped down the wicket and launched Yasir Shah, who many regard as the world’s leading spinner, back over his head for six. No matter that he was out soon after: it felt as though the future had arrived.

Stat of the day - 5 The last time Sri Lanka played a Test in Dubai – they won here in 2013 – they had four players in their XI who were known as wicketkeepers. This time they have gone one better. Each of Dinesh Chandimal, Kaushal Silva, Samarawickrama, Kusal Mendis, and Niroshan Dickwella – the nominated gloveman here – can keep wicket.

The verdict Sri Lanka want to make history by becoming the first team to beat Pakistan in a full Test series in the UAE. They could not have made a better start, first by winning the toss, then by scoring freely on an easy-paced pitch. The fact Yasir Shah found some turn on Day 1, too, will have interested their own spin bowlers.

The National's picks

4.35pm: Tilal Al Khalediah
5.10pm: Continous
5.45pm: Raging Torrent
6.20pm: West Acre
7pm: Flood Zone
7.40pm: Straight No Chaser
8.15pm: Romantic Warrior
8.50pm: Calandogan
9.30pm: Forever Young

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Retirement funds heavily invested in equities at a risky time

Pension funds in growing economies in Asia, Latin America and the Middle East have a sharply higher percentage of assets parked in stocks, just at a time when trade tensions threaten to derail markets.

Retirement money managers in 14 geographies now allocate 40 per cent of their assets to equities, an 8 percentage-point climb over the past five years, according to a Mercer survey released last week that canvassed government, corporate and mandatory pension funds with almost $5 trillion in assets under management. That compares with about 25 per cent for pension funds in Europe.

The escalating trade spat between the US and China has heightened fears that stocks are ripe for a downturn. With tensions mounting and outcomes driven more by politics than economics, the S&P 500 Index will be on course for a “full-scale bear market” without Federal Reserve interest-rate cuts, Citigroup’s global macro strategy team said earlier this week.

The increased allocation to equities by growth-market pension funds has come at the expense of fixed-income investments, which declined 11 percentage points over the five years, according to the survey.

Hong Kong funds have the highest exposure to equities at 66 per cent, although that’s been relatively stable over the period. Japan’s equity allocation jumped 13 percentage points while South Korea’s increased 8 percentage points.

The money managers are also directing a higher portion of their funds to assets outside of their home countries. On average, foreign stocks now account for 49 per cent of respondents’ equity investments, 4 percentage points higher than five years ago, while foreign fixed-income exposure climbed 7 percentage points to 23 per cent. Funds in Japan, South Korea, Malaysia and Taiwan are among those seeking greater diversification in stocks and fixed income.

• Bloomberg

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Uefa Women's Player of the Year: Lucy Bronze (Lyon)

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Goalkeeper: Alisson (Liverpool)

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Midfielder: Frenkie de Jong (Ajax)

Forward: Lionel Messi (Barcelona)

Uefa President's Award: Eric Cantona

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Stoke City v Tottenham

Brentford v Newcastle United

Arsenal v Manchester City

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All ties are to be played the week commencing December 21.

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1. Fasting 

2. Prayer 

3. Hajj 

4. Shahada 

5. Zakat