Elizabeth Holmes walks with her partner Billy Evans and her parents, to the federal court to hear the verdict in her fraud trial in San Jose, California, January 3. AFP
Elizabeth Holmes walks with her partner Billy Evans and her parents, to the federal court to hear the verdict in her fraud trial in San Jose, California, January 3. AFP
Elizabeth Holmes walks with her partner Billy Evans and her parents, to the federal court to hear the verdict in her fraud trial in San Jose, California, January 3. AFP
Elizabeth Holmes walks with her partner Billy Evans and her parents, to the federal court to hear the verdict in her fraud trial in San Jose, California, January 3. AFP


Elizabeth Holmes, Ghislaine Maxwell and America's justice system


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December 26, 2021

In the past fortnight week, two women appeared in court in the US on vastly different charges. Ghislaine Maxwell was on trial for sex trafficking – and found guilty; Elizabeth Holmes for fraud – also found guilty, on charges of fraud and conspiracy. Both women come from similar milieus: immense wealth, privilege and access to a glamorous life. Both are white and educated at elite schools. Both were armed to the teeth with the most expensive lawyers money can buy.

Now, consider the case of Anthony J Broadwater, who was recently exonerated for rape charges in 1981 for a crime he never committed. His accuser is another privileged white woman, the author Alice Sebold.

Mr Broadwater spent 16 years in prison after Ms Sebold – who had been raped as a student at Syracuse University in New York – accused him without actually being sure he was the one who attacked her. Supporters of Ms Sebold today say she was only 19 when this happened, and that she was pushed into accusing Mr Broadwater by her over-zealous prosecutor.

Anthony Broadwater breaks down on November 22, in Syracuse, New York, when a judge overturned his 40-year-old rape conviction. AP
Anthony Broadwater breaks down on November 22, in Syracuse, New York, when a judge overturned his 40-year-old rape conviction. AP

I have no doubt that Ms Sebold suffered horribly as a result of the rape at such an early age. Still, the facts remain: Ms Sebold went on to write books using rape as a topic that gained her fame and wealth. Her novel The Lovely Bones was made into a Hollywood film directed by Peter Jackson of the Lord of the Rings fame. Her memoir Lucky, about the rape and details of her trial, sold millions of copies and was about to be made into another film when the case was investigated and Mr Broadwater finally exonerated. Her publishers have ceased to distribute it. In the memoir, she gave Mr Broadwater a fictitious name – but it still meant he was branded a sex offender upon his release in 1998.

Mr Broadwater was only 21 when he was sent to prison. He tried repeatedly to hire lawyers to prove his innocence. Many attorneys turned him down, and he didn’t have the financial means to secure the best defence. Meanwhile, Ms Sebold, who today lives in a $6 million mansion in San Francisco, has been trying to defend herself and has apologised. Mr Broadwater, finally cleared of this heinous miscarriage of justice, is extraordinarily generous towards Ms Sebold’s feckless “mistake”.

“It took a lot of courage,” he said of her apology. “I guess she’s brave and weathering through the storm like I am.”

Anthony Broadwater, after Judge Gordon Cuffy overturned the 40-year-old rape conviction that wrongfully put him in state prison for Alice Sebold's rape. AP
Anthony Broadwater, after Judge Gordon Cuffy overturned the 40-year-old rape conviction that wrongfully put him in state prison for Alice Sebold's rape. AP

I think it is fair to say that even though Ms Sebold writes extensively about her victimisation and her Post-Traumatic Stress Disorder, it is Mr Broadwater’s life that was destroyed. Whatever potential the young man, a former marine, had in front of him was crushed when he was sent to prison. Had he been able to afford the kind of legal representation that Ms Maxwell and Ms Holmes employ – or had he been white – he most likely would have had an entirely different life. He has struggled to work after prison; finding jobs as a janitor and trash collector.

The track record for Black men getting justice in America is deeply flawed and disproportionate compared to white people

Meanwhile, Maxwell – the daughter of an unscrupulous British publishing magnate – was the longtime lover and enabler of the disgraced financier Jeffrey Epstein who committed suicide in his cell. Maxwell pleaded not guilty to six federal counts, including sex trafficking of a minor, enticing a minor to travel to engage in illegal sex acts, transporting a minor with the intent to engage in criminal sexual activity and three related counts of conspiracy.

Maxwell, 59, is nearly the same age as Mr Broadwater. But unlike him – whose mother died when he was a small boy, and who lived a marginal existence with a loving father and siblings and whose father tried desperately to clear his son’s name before dying – she has lived the high life since the day she was born. Yachts were named after her by her father. She received an Oxford University education. With Epstein, she parachuted to Palm Beach, the Hamptons, the Upper East Side, Paris, London, the Caribbean. For whatever reason, both Holmes and Maxwell followed the creed that the more money people have, the more they feel above the law.

When Maxwell is convicted, she could be sentenced to go to prison for 70 years.

Author Alice Sebold apologised to Anthony Broadwater, 61, the man who was exonerated in the 1981 rape that was the basis for her memoir "Lucky". AP
Author Alice Sebold apologised to Anthony Broadwater, 61, the man who was exonerated in the 1981 rape that was the basis for her memoir "Lucky". AP

Meanwhile, Holmes lied and scammed her way through Silicon Valley cheating investors and backers with her “fake it until you make it” approach to life. Her defence is to blame everything on her former partner, saying she was emotionally bullied. Again, clever, and expensive lawyers are working overtime to help her beat the rap.

If I sound bitter, it’s because the track record for black men getting justice in America is deeply flawed and disproportionate compared to white people. Without decent lawyers, they don’t stand a chance.

In October, a report by The Sentencing Project, a Washington-based advocacy group, found that black people in America are incarcerated at nearly five times the rate of whites. The report found – shockingly – that one in 81 black adults per 100,000 people in the US is serving time in a state prison. In Wisconsin, one in every 36 black adult Wisconsinites is in prison.

Many of these men are not given proper legal advice or representation, and some of the crimes include prosecution for low-level amounts of marijuana or loitering. Some “cop a plea”, that is, strike a plea bargain with the prosecutors. This means they often plead guilty to a lesser offence to avoid standing trial for a greater offence. Some plead guilty to a crime they did not do because they are afraid to go on trial – people who go on trial often get convicted and get much heavier sentences than those who plea bargain.

If you want to know about justice in America, and you have the stomach, watch the television miniseries When They See Us by Ava DuVernay about the so-called Central Park Five. This is the true story of five boys who were accused of raping a white jogger in April 1989. Their accusation was based on police-coerced confessions. The five teenagers – some as young as 14 – all claimed their innocence. Yet, they spent between six and 13-plus years in prison for attempted murder, rape and assault. They were only cleared of charges when a serial rapist finally confessed to the crime in 2002. Meanwhile, their youth was spent behind bars.

There are many good people in America committed to changing the system. The Innocence Project is a non-profit legal organisation working towards criminal reform. Founded in 1992, it works using DNA testing to prevent future injustice. Their mission is to free the “staggering number of innocent people who remain incarcerated”.

It is a start, but America needs much more. We need to pass laws and implement policy that prevent wrongful conviction. We need to lessen sentences for first-time offenders and provide support for exonerees so they can rebuild their lives post-release. And we need to ensure that the law is the same for the Maxwells and the Holmeses, despite their wealth and influence, as it is for those who cannot speak or defend themselves.

A version of this article was first published on December 26, 2021

Other simple ideas for sushi rice dishes

Cheat’s nigiri 
This is easier to make than sushi rolls. With damp hands, form the cooled rice into small tablet shapes. Place slices of fresh, raw salmon, mackerel or trout (or smoked salmon) lightly touched with wasabi, then press, wasabi side-down, onto the rice. Serve with soy sauce and pickled ginger.

Easy omurice
This fusion dish combines Asian fried rice with a western omelette. To make, fry cooked and cooled sushi rice with chopped vegetables such as carrot and onion and lashings of sweet-tangy ketchup, then wrap in a soft egg omelette.

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This makes a great, fuss-free sharing meal. Arrange sushi rice on a platter or board, then fill the space with all your favourite sushi ingredients (edamame beans, cooked prawns or tuna, tempura veggies, pickled ginger and chilli tofu), with a dressing or dipping sauce on the side.

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Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.

Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.

Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.

Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.

“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.

Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.

“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.

“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”

The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”

Updated: January 04, 2022, 12:39 PM