Every year, here at work, we all have to complete a set of training excercises to make sure that we are legal and compliant.
I have just completed one on Money Laundering. Under the title of Methods, it gives a description of:-
1. Making use of trusts and holding companies to hide the true ownership of a company or business.
2. Using apparently legitimate organisations as "fronts".
3. Misusing a number of products and services to make it difficult to see what is happening.
This all seems very familiar to me, but for the life of me, I cannot think where I have heard it before. I seem to think it described a certain football chairman, but my mind is a blank.
Can any of you help?
Browse:
I'm Stumped!!!!
comment by Eric the Optimistic (U4604)
posted on 28/10/11
Abramovich?
allegedly!
comment by wildorange1970 (U2058)
posted on 28/10/11
Pretty much every major US, UK and European large business and many SMEs. Oh and Chinese and asian tiger companies are no strangers to special purpose vehicles and 'hidden' companies. And as Eric says, allegedly.
comment by Whiteoutloud (U6458)
posted on 28/10/11
Eric
Strange the tenuous links with a certain London club
comment by Eric the Optimistic (U4604)
posted on 28/10/11
Whiteoutloud
I'll tell you this, Ken Bates (he's 'our' Chairman) was in the paper standing up for the Chelsea fans yesterday p85 The Mail 27/10/11.
It was reported that he stood up to the property developers for twenty one years to secure the future of Stamford Bridge and bought the site after the 1992 stock market crash passing it on to the supporters.
He is reported to have said "Stamford Bridge is the club's heritage. I sacrificed personal profit to make sure Chelsea could continue to play at their home. It is my legacy to Chelsea fans. They own the stadium and the site and they are proud of that"
He's only been with us about a third of thatt time.
The supporters won the day yesterday by the way beating off a bid by Abramovich.
Given 21 years I wonder what his legacy would be at Leeds United
comment by Eric the Optimistic (U4604)
posted on 28/10/11
Oh I forgot 'Allegedly!'
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