Sunday Times: UKFI chair's Liechtenstein links - Spear's Magazine

Sunday Times: UKFI chair’s Liechtenstein links

The financier who has been appointed to protect taxpayers’ money in Britain’s bailed-out banks is a former trustee of a secretive Liechtenstein bank accused of facilitating massive tax evasion.

From the Sunday Times:

The financier who has been appointed to protect taxpayers’ money in Britain’s bailed-out banks is a former trustee of a secretive Liechtenstein bank accused of facilitating massive tax evasion.

Glen Moreno, who chairs the powerful body that oversees the government’s £37 billion shareholding in the banks (UK Financial Investments), was paid hundreds of thousands of pounds during a nine-year association with Liechtenstein Global Trust (LGT), a private bank based in the tax haven.

The disclosures are an embarrassment for Gordon Brown, who last week criticised offshore tax havens and called for international action to stamp out tax evasion.

“Advising the rich to exploit tax loopholes is unpatriotic,” the prime minister has said in the past. The bank was strongly criticised by name by President Barack Obama when he was a senator.

To read the full article, visit timesonline.co.uk



 

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