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Offshore Scandal – The British sovereign wealth manager is among the investors involved       Finance United Kingdom 

Offshore Scandal – The British sovereign wealth manager is among the investors involved    

An ancient faith agency serving the British Crown’s property portfolio, an independent source of income as a prevailing ruler, has also been affected by the recent offshore offshore scandal on Sunday. Nevertheless, there has been no suspicion of any violation of law against a royal trustee dating back several centuries.

A total of 96 press and media companies worldwide, including the BBC’s British media service company Panorama, and The Guardian, the left-wing UK daily newspaper, have been downloaded for Paradise Papers, a leaked file of 13.4 million files.
According to the first reports published on Sunday by the BBC and the British newspaper, after the ancient estate, a wealthy man who had been in charge of the Duchy of Lancaster in 1265 and has been in various forms since 1399, – today invested 1.8 billion forints in the Jubilee Absolute Return Fund Limited, whose headquarters are based in the Bermuda of the British Crown.
This investment was discontinued in 2010.
According to the documents, the Duchy of Lancaster made a $ 7.5 million nominal value in 2005 in the Dover Street VI Cayman Fund LP, a Cayman Islands.
Investments by Duchy of Lancaster also came from an American retailer, BrightHouse’s UK business. BrightHouse offers consumer loans mainly to low-income customers, from which buyers can buy household appliances from the company.
However, BrightHouse was fined the Financial Conduct Authority (FCA), the UK Financial Sector Authority (CAF), which received consumer announcements due to the extremely high interest charged by the company. At the end of last month, FCA has mandated BrightHouse to provide a total of 14.8 million pounds – over 5 billion forints – to nearly a quarter of its customers.

 

 
The finance director of Duchy of Lancaster, who manages almost 500 million asset portfolios, reported on Sunday to the BBC that the investment strategy of the stock of credit is determined by the recommendations of its own investment advisors and the Duchy of Lancaster invests only in “highly respected” private equity funds.
II. Queen Elizabeth does not personally participate in the investment decisions of the Duchy of Lancaster in any way, and since 1993 she has been subject to personal income tax since her income from the bourgeoisie, although she would not be obliged to do so under the emperor’s exemption.
The BBC and The Guardian stressed in Sunday evening reports that it was not suspected of any breach of law in the leaked mass of the crown’s trustee.
However, according to experts and commentators from BBC television, the 91st year II. Queen Elizabeth is certainly quite embarrassed to have the monarchy’s ancient private property management agency become involved in offshore investment transactions.
Last year, a similar offshore scandal broke out – in which Mossy Fonseca Panamanian law firm broke offshore company transactions – millions of confidential documents – David Cameron, then British Prime Minister, was also involved. It was apparent from the documents that the late father of the former head of government, Ian Cameron, co-founder, co-owner and co-director of an offshore investment company, established with Baha’i and Swiss headquarters with the participation of Mossack Fonseca.
According to The Guardian, a research firm at the time, Blairmore Holdings, in the early 1980s, did not pay a single penny tax in Great Britain for three decades. David Cameron acknowledged that he had shares with his father’s offshore investment company but sold them when he became prime minister in 2010.

Source: MTI / Image: alamy.com /

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