Saturday, 9 July 2016

What's a million between friends

For those who have not followed the twists and turns of this saga a brief resume of the shenanigans in 2009 under leader Ezekiel.

The former legal eagle at TDC concluded in 2014 that TDC did little "due diligence" on SFP Ventures (UK) Ltd and even though they paid TDC £1M surety in September 2009 the risk to TDC was too great and the Chief Finance officer was right to recommend not to agree the 2009 amendments.

So where did this £1Million come from. According to the Finance Officer it was via the UK clearing banking system however when pressed she said they had NEVER identified the source of the funds. However it is clear from the letters in TDC's possession this money had arrived via Tortola, one of the British Virgin Islands. A tax haven in anyone else's eyes, however sadly not in TDCs.
SFP Services Ltd is really SFP Services Inc based in Tortola and run by Colin Hill the money man behind Shaun Keegan.
Now where is this money now?
It seems TDC doesn't want to answer this question although it seems likely this is the same £1M referred to by Lin Fairbrass in her answer to "What's happening with the Cardy build"
It seems the money has already been partially spent however the money seems to have passed through many hands so identifying the true source seems to be a moot point as it has effectively been well washed.

4 comments:

Richard Card said...

Sherlock Barry well researched

Anonymous said...

Isn't current Legal Eagle Tim Howes in deep water for not raising this as possible corruption? Shouldn't he be struck off as a lawyer and sacked? How much are we paying him for this so-called legal expertise

Anonymous said...

Would this be the same Mr Howes who gave his two bobs worth on some manston equation?

Anonymous said...

Absolutely unacceptable. We have to pay HMRC an annual fee to be registered as complying with Money Laundering. If we do it wrong we will be before the Courts over much smaller sums. What sets a Council aside. Why can't they prove where the money came from. Heads should roll.