Excerpts​ ​of​ ​email​ ​statements​ ​from​ ​Wafic​ ​Said
In​ ​the​ ​course​ ​of​ ​researching​ ​a​ ​story​ ​on​ ​Syrian-British​ ​investor​ ​Wafic​ ​Said​ ​and​ ​his​ ​ties​ ​to
former​ ​prime​ ​minister​ ​Brian​ ​Mulroney,​ ​Radio-Canada​ ​reporter​ ​Frédéric​ ​Zalac​ ​—​ ​along
with​ ​CBC​ ​News,​ ​the​ ​Toronto​ ​Star​ ​and​ ​several​ ​other​ ​global​ ​media​ ​organizations​ ​working
with​ ​the​ ​International​ ​Consortium​ ​of​ ​Investigative​ ​Journalists​ ​—​ ​sent​ ​Said​ ​several
emails​ ​with​ ​detailed​ ​questions​ ​about​ ​his​ ​business​ ​dealings,​ ​his​ ​relationship​ ​with
Mulroney​ ​and​ ​his​ ​Canadian​ ​citizenship​ ​status.
Below​ ​are​ ​excerpts​ ​of​ ​the​ ​two​ ​responses​ ​we​ ​received.

Email​ ​from​ ​Wafic​ ​Said,​ ​Nov.​ ​27,​ ​2017
Dear​ ​Mr.​ ​Zalac,
I​ ​have​ ​received​ ​your​ ​list​ ​of​ ​questions​ ​and​ ​whilst​ ​I​ ​find​ ​it​ ​somewhat​ ​distasteful​ ​to​ ​respond
when​ ​I​ ​am​ ​aware​ ​that​ ​your​ ​source​ ​must​ ​have​ ​obtained​ ​information​ ​illicitly​ ​from​ ​our
lawyers,​ ​Appleby,​ ​I​ ​feel​ ​it​ ​right,​ ​on​ ​balance,​ ​that​ ​you​ ​should​ ​have​ ​a​ ​factual​ ​account​ ​of
the​ ​issues​ ​to​ ​put​ ​the​ ​record​ ​straight.
You​ ​cover​ ​three​ ​topics​ ​which​ ​I​ ​shall​ ​address​ ​in​ ​turn:
​Said​ ​Holdings​ ​Limited
At​ ​the​ ​time​ ​I​ ​decided​ ​to​ ​set​ ​up​ ​what​ ​became​ ​Said​ ​Holdings​ ​in​ ​1987,​ ​I​ ​was​ ​working​ ​in
Saudi​ ​Arabia​ ​and​ ​was​ ​free​ ​to​ ​form​ ​such​ ​a​ ​holding​ ​company​ ​wherever​ ​it​ ​was​ ​considered
most​ ​appropriate. My​ ​advisers​ ​initially​ ​recommended​ ​Luxembourg,​ ​and​ ​later​ ​Bermuda,
which​ ​became​ ​the​ ​legal​ ​base​ ​for​ ​the​ ​company. At​ ​that​ ​time,​ ​SHL​ ​had​ ​its​ ​operational
office​ ​in​ ​Monaco.
Whilst​ ​I​ ​have​ ​a​ ​home​ ​in​ ​the​ ​U.K.,​ ​I​ ​am​ ​not​ ​a​ ​U.K.​ ​resident​ ​and​ ​do​ ​not​ ​conduct​ ​business
there.
Regarding​ ​the​ ​management​ ​of​ ​the​ ​Said​ ​Holdings​ ​portfolio,​ ​SHL​ ​has​ ​always​ ​had​ ​a​ ​very
experienced​ ​board​ ​of​ ​directors​ ​and​ ​has​ ​hired​ ​leading​ ​firms​ ​of​ ​investment​ ​managers​ ​to
advise​ ​it​ ​.… ​ ​We​ ​had​ ​board​ ​meetings​ ​in​ ​Bermuda​ ​and​ ​other​ ​convenient​ ​locations. ​ ​SHL
now​ ​has​ ​a​ ​fully​ ​staffed​ ​office​ ​in​ ​Bermuda​ ​with​ ​a​ ​CEO,​ ​COO,​ ​treasurer​ ​and​ ​support​ ​staff.
SHL​ ​has​ ​always​ ​been​ ​run​ ​with​ ​the​ ​rigour​ ​of​ ​a​ ​public​ ​company​ ​…
Regarding​ ​where​ ​the​ ​audit​ ​reports​ ​should​ ​be​ ​signed,​ ​this​ ​would​ ​have​ ​been​ ​a​ ​matter​ ​for
the​ ​responsible​ ​partner​ ​of​ ​the​ ​audit​ ​firm​ ​to​ ​decide.
I​ ​do​ ​not​ ​recall​ ​the​ ​detail,​ ​but​ ​having​ ​inquired,​ ​I​ ​understand​ ​that​ ​SHL​ ​had​ ​subsidiary
companies​ ​in​ ​both​ ​Hungary​ ​and​ ​Cyprus​ ​which​ ​were​ ​used​ ​to​ ​hold​ ​real​ ​estate

 investments​ ​in​ ​the​ ​U.S.​ ​They​ ​were​ ​set​ ​up​ ​on​ ​the​ ​basis​ ​of​ ​expert​ ​legal​ ​and​ ​fiscal
advice. Tax​ ​was​ ​paid​ ​on​ ​those​ ​investments​ ​in​ ​all​ ​relevant​ ​jurisdictions ​ ​including​ ​the
U.S. ​ ​Like​ ​most​ ​investors,​ ​we​ ​arrange​ ​our​ ​affairs​ ​to​ ​be​ ​tax​ ​efficient​ ​whilst​ ​complying​ ​with
all​ ​applicable​ ​laws​ ​and​ ​regulations.

Said​ ​Holdings​ ​has​ ​always​ ​taken​ ​appropriate​ ​professional​ ​advice,​ ​and​ ​I​ ​believe​ ​the
company​ ​has​ ​been​ ​well​ ​run,​ ​but​ ​I​ ​don't​ ​think​ ​it​ ​could​ ​ever​ ​be​ ​described​ ​as​ ​a​ ​"military
operation." We​ ​have​ ​regular​ ​board​ ​meetings​ ​with​ ​well​ ​qualified​ ​directors​ ​and​ ​support
staff. The​ ​company​ ​has​ ​a​ ​strict​ ​code​ ​of​ ​governance​ ​and​ ​regular​ ​audits,​ ​going​ ​much
further​ ​than​ ​it​ ​is​ ​required​ ​to​ ​do​ ​as​ ​a​ ​private​ ​company.
I​ ​do​ ​not​ ​recall​ ​the​ ​fees​ ​we​ ​paid​ ​to​ ​Mr.​ ​Mulroney,​ ​but​ ​they​ ​would​ ​have​ ​been​ ​the​ ​same​ ​as
all​ ​of​ ​the​ ​other​ ​non-executive​ ​directors. The​ ​fees​ ​were​ ​(and​ ​still​ ​are)​ ​commensurate​ ​with
the​ ​work​ ​they​ ​carry​ ​out​ ​as​ ​directors​ ​of​ ​an​ ​investment​ ​company​ ​the​ ​size​ ​of​ ​SHL​ ​–​ ​they
are​ ​at​ ​"market"​ ​level.
My​ ​Canadian​ ​citizenship
I​ ​am​ ​a​ ​Canadian​ ​citizen​ ​and​ ​am​ ​proud​ ​to​ ​be​ ​one.​ ​At​ ​the​ ​time​ ​I​ ​applied​ ​for​ ​that​ ​status,​ ​I
did​ ​not​ ​know​ ​Mr.​ ​Mulroney. Indeed,​ ​I​ ​did​ ​not​ ​meet​ ​him​ ​until​ ​several​ ​years​ ​later,​ ​I​ ​think​ ​in
2002. He​ ​had​ ​nothing​ ​to​ ​do​ ​with​ ​my​ ​application. I​ ​sought​ ​advice​ ​from​ ​an​ ​immigration
adviser​ ​in​ ​Montreal​ ​and​ ​applied​ ​under​ ​what​ ​I​ ​recall​ ​was​ ​a​ ​special​ ​programme for​ ​people
who​ ​were​ ​prepared​ ​to​ ​invest​ ​substantial​ ​sums​ ​of​ ​money​ ​in​ ​Canada.
The​ ​small​ ​apartment​ ​in​ ​Montreal​ ​on​ ​Légaré​ ​Street​ ​was​ ​rented​ ​for​ ​me,​ ​but​ ​when​ ​I​ ​was
there​ ​with​ ​my​ ​family,​ ​it​ ​was​ ​easier​ ​to​ ​stay​ ​in​ ​hotels. I​ ​subsequently​ ​purchased​ ​a​ ​larger
apartment​ ​in​ ​Les​ ​Cours​ ​Mont-Royal. I​ ​also​ ​made​ ​what​ ​proved​ ​to​ ​be​ ​a​ ​very​ ​successful
investment​ ​in​ ​Jordan​ ​Petroleum,​ ​a​ ​Canadian​ ​oil​ ​and​ ​gas​ ​company. These​ ​investments
enabled​ ​me​ ​to​ ​qualify​ ​for​ ​permanent​ ​residence​ ​and​ ​then​ ​for​ ​Canadian​ ​citizenship. Said
Holdings​ ​has​ ​continued​ ​to​ ​invest​ ​substantial​ ​sums​ ​in​ ​Canada.
The​ ​purchase​ ​of​ ​the​ ​Cours​ ​Mont-Royal​ ​property​ ​turned​ ​out​ ​to​ ​be​ ​a​ ​poor​ ​investment. I
seem​ ​to​ ​have​ ​bought​ ​it​ ​when​ ​the​ ​market​ ​was​ ​at​ ​its​ ​peak. There​ ​was​ ​then​ ​considerable
uncertainty​ ​in​ ​Quebec​ ​following​ ​the​ ​sovereignty​ ​referendum​ ​there​ ​in​ ​1995​ ​and​ ​house
prices​ ​did​ ​fall. It​ ​took​ ​me​ ​some​ ​time​ ​to​ ​sell​ ​the​ ​apartment,​ ​and​ ​it​ ​is​ ​true​ ​that​ ​I​ ​lost​ ​money
on​ ​it....
I​ ​took​ ​appropriate​ ​professional​ ​advice​ ​about​ ​my​ ​entitlement​ ​to​ ​Canadian​ ​residency​ ​and
citizenship. I​ ​followed​ ​this​ ​advice​ ​to​ ​the​ ​letter,​ ​met​ ​the​ ​relevant​ ​qualifications​ ​and​ ​was
granted​ ​citizenship.

 I​ ​made​ ​donations​ ​to​ ​St.​ ​Francis​ ​Xavier​ ​University​ ​for​ ​...​ ​philanthropic​ ​reasons​ ​…​ ​I​ ​felt
privileged​ ​to​ ​have​ ​been​ ​awarded​ ​an​ ​honorary​ ​doctorate​ ​by​ ​St.​ ​Francis​ ​Xavier​ ​for​ ​my
philanthropic​ ​achievements​ ​throughout​ ​the​ ​world.
Saudi​ ​Arabia
I​ ​played​ ​a​ ​small​ ​role​ ​in​ ​what​ ​became​ ​known​ ​as​ ​the​ ​Al​ ​Yamamah​ ​program. I​ ​did​ ​so
following​ ​an​ ​approach​ ​from​ ​the​ ​U.K.​ ​government. I​ ​am​ ​proud​ ​of​ ​the​ ​part​ ​I​ ​played​ ​and
believe​ ​that​ ​it​ ​helped​ ​to​ ​secure​ ​many​ ​thousands​ ​of​ ​valuable​ ​jobs​ ​for​ ​workers​ ​in​ ​the​ ​UK.
It​ ​is​ ​a​ ​matter​ ​of​ ​public​ ​record​ ​that​ ​the​ ​SFO​ ​conducted​ ​an​ ​investigation​ ​into​ ​matters
relating​ ​to​ ​Al​ ​Yamamah​ ​and​ ​that​ ​BAE​ ​settled​ ​certain​ ​claims​ ​and​ ​paid​ ​fines​ ​in​ ​the​ ​U.K.
and​ ​the​ ​U.S. I​ ​was​ ​not​ ​involved​ ​in​ ​those​ ​cases​ ​although​ ​I​ ​did​ ​offer​ ​to​ ​meet​ ​the​ ​SFO
investigators​ ​to​ ​assist​ ​them​ ​in​ ​their​ ​inquiries. They​ ​did​ ​not​ ​take​ ​up​ ​my​ ​offer. I​ ​was​ ​never
questioned​ ​or​ ​charged​ ​with​ ​any​ ​wrongdoing​ ​in​ ​the​ ​U.K.​ ​or​ ​any​ ​other​ ​jurisdiction​ ​then​ ​or
subsequently.

His​ ​Royal​ ​Highness​ ​Prince​ ​Bandar​ ​bin​ ​Sultan​ ​is​ ​a​ ​childhood​ ​friend,​ ​and​ ​I​ ​have​ ​made
one​ ​or​ ​two​ ​investments​ ​with​ ​him. We​ ​also​ ​owned​ ​a​ ​helicopter​ ​together....
Yours​ ​sincerely,
Wafic​ ​Rida​ ​Said

Email​ ​from​ ​Ann-Marie​ ​Bennett,​ ​a​ ​representative​ ​for​ ​Wafic​ ​Said,​ ​Nov.
29,​ ​2017
Dear​ ​Mr.​ ​Zalac,
I​ ​have​ ​now​ ​had​ ​chance​ ​to​ ​discuss​ ​your​ ​email​ ​with​ ​Mr.​ ​Said,​ ​and​ ​he​ ​asked​ ​me​ ​to​ ​reply
as​ ​follows:
Canadian​ ​citizenship:
1. Mr.​ ​Said​ ​lived​ ​in​ ​Canada​ ​for​ ​three​ ​years​ ​thus​ ​complying​ ​with​ ​the
immigration​ ​residency​ ​requirements.​ ​The​ ​times​ ​he​ ​recalls​ ​being​ ​"absent"
from​ ​Canada​ ​were​ ​for​ ​several​ ​weeks​ ​in​ ​1989/90​ ​when​ ​he​ ​had​ ​open​ ​heart
surgery​ ​for​ ​a​ ​valve​ ​replacement​ ​in​ ​Houston,​ ​Texas,​ ​when​ ​he​ ​was​ ​visiting
his​ ​children​ ​at​ ​boarding​ ​school​ ​or​ ​when​ ​attending​ ​to​ ​his​ ​contracting
business​ ​in​ ​Saudi​ ​Arabia.

 2. Mr.​ ​Said​ ​paid​ ​rent​ ​under​ ​the​ ​terms​ ​of​ ​the​ ​lease​ ​for​ ​the​ ​apartment​ ​at
Legare​ ​Street ​ ​and​ ​used​ ​it​ ​often.
3. The​ ​business​ ​purpose​ ​of​ ​incorporating​ ​162081​ ​Canada​ ​Inc​ ​(later
Safingest​ ​Canada)​ ​was​ ​to​ ​hold​ ​Mr.​ ​Said’s​ ​Canadian​ ​investments,
including​ ​the​ ​shares​ ​in​ ​Jordan​ ​Petroleum.
4​.​ Mr.​ ​Said​ ​was​ ​interviewed​ ​by​ ​a​ ​judge​ ​prior​ ​to​ ​gaining​ ​citizenship.
5. Jordan​ ​Petroleum​ ​is​ ​a​ ​public​ ​company​ ​which​ ​Mr​ ​Said​ ​invested​ ​in​ ​…​ ​on
the​ ​advice​ ​of​ ​his​ ​investment​ ​bankers​ ​...​ ​There​ ​were​ ​no​ ​"intra-company
transferees."
Said​ ​Holdings:
6. Mr.​ ​Said​ ​had​ ​a​ ​service​ ​office​ ​at​ ​49​ ​Park​ ​Lane,​ ​London. The​ ​office​ ​had​ ​no
connection​ ​with​ ​SHL​ ​and​ ​no​ ​SHL​ ​business​ ​was​ ​conducted​ ​from​ ​there.
7. ...​ ​The​ ​board​ ​of​ ​directors​ ​were​ ​satisfied​ ​that​ ​SHL​ ​had​ ​no​ ​tax​ ​liabilities​ ​in
Switzerland​ ​and​ ​throughout​ ​remained​ ​fiscally​ ​resident​ ​in​ ​Bermuda,​ ​where
the​ ​company​ ​complied​ ​with​ ​all​ ​applicable​ ​rules​ ​and​ ​regulations.
8. Mr.​ ​Said​ ​believes​ ​that​ ​Mr.​ ​Mulroney​ ​is​ ​mistaken​ ​[when​ ​he​ ​says​ ​he​ ​has
known​ ​Mr.​ ​Said​ ​and​ ​his​ ​family​ ​for​ ​over​ ​20​ ​years]​ ​and​ ​that​ ​they​ ​first​ ​met​ ​in
2002. He​ ​was​ ​introduced​ ​to​ ​Mr. Mulroney,​ ​in​ ​Quebec,​ ​by​ ​their​ ​mutual
friend,​ ​the​ ​late​ ​Paul​ ​Desmarais.