Friday, 31 March 2017

RSP open and transparent NOT

Well Riveroak Strategic Partners Ltd have provided a press release concerning their owners M.I.O Investments Limited and typically the ego stroking continues on SMAa however in the real world jaws have dropped and thoughts have turned to the scoring of their own goal. The press release is as follows:

"We share your determination! The creation of RiverOak Strategic Partners meets our long held commitment to have a UK operating company. Our investors are represented on the RSP board by Nick Rothwell, Rico Sykes and Gerard Heusler. M.I.O Investments Limited has been established by our investors as a specific funding vehicle for their financial interests in the Manston project, which is standard practice. M.I.O Investments Limited is a company registered in the Commonwealth territory of Belize.
We have provided all required details of our company ownership structure to Companies House and also informed the Planning Inspectorate of the creation of RSP. Additional, comprehensive details of our funding partners and investment arrangements will be provided to PINS as part of the DCO application, providing solid evidence of our ability to meet all of the financial obligations associated with the acquisition, reopening and operation of the airport"


So why Belize?
To repeat:
Belize offers a high degree of privacy. Belize will not disclose its banking or fiscal information to any foreign party.
No tax at all
No reporting requirements.

Well, Well, Well who owns MIO? Who knows.

What do governments say about Belize as a tax haven?
Link

What do TDC say about this? Well Chris Wells replied to an email by Andy McCulloch as follows:

On 30 Mar 2017, at 19:02, Andrew McCulloch wrote:
In view of the attached are you still willing to go along with the fiction that the DCO is unfunded and that RSP have no money?


Andrew McCulloch


  Dear Andrew

I understand Belize is one of 14 Caribbean nations named by the US as “major money laundering” countries in the 2016 International Narcotics Control Strategy Report (INCSR) released by the US State Department.



According to the report, a major money laundering country is defined as one “whose financial institutions engage in currency transactions involving significant amounts of proceeds from international narcotics trafficking”.
The report notes that Belize is not a major regional financial center but has a substantial offshore financial sector. It also notes that Belize is a transshipment point for marijuana and cocaine, and states that human trafficking is also a concern for the country.”

What else would you like us to note?

Regards

Chris Wells


 Further from the press release

comprehensive details of our funding partners and investment arrangements will be provided to PINS as part of the DCO application
 Logically this is difficult to understand because shrouding the ownership of RSP Ltd in Belize secrecy doesn't make sense if at the same time you are providing  "comprehensive details of our funding partners" to the Planning Authorities.

5 comments:

  1. Freudmann will come unstuck again with this move and could very well end up with one in the nut.

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  2. For years we have been told how RiverOak are fully committed to reopening Manston, and have been told that they would be providing funding for the project. Now, we find out that RiverOak abandoned the project in December. Mr. Freudmann has set up a new company but has used the word RiverOak in the company name to make it look like it has something to do with the original company. Now, we are told that some Swiss financiers are arranging the finance for the new project, but we aren't told where the money is coming from. It's as clear as mud. TDC made a massive mistake when they involved themselves with an offshore company which was supposed to develop the Pleasurama site. To this day the plot remains a building site and nobody has any idea when the people of Ramsgate will get their seafront back. Let's hope local politicians have the sense to see that a DCO funded by secret investors, channelling money through an offshore tax-haven, is another accident waiting to happen. It sounds as though Chris Wells is wise to the dangers of getting tangled up with such an obtuse scheme. Let's hope he can persuade his council colleagues to stick with the more straightforward and transparent scheme being proposed by the owners of Stone Hill Park.

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  3. Anon try telling that to SMAa. They are so blinkered in their thinking

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  4. Anon 22:47,very well put indeed the only remaining problem is the politicians/Gale and his sidekick who really want Tony Freudmann to get a grip on the plot and not so Gale can see a spitefire land,land being the cash ow intrest with all involved.

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  5. Riveroak is a mess and SHP the same: Discovery Park was sold a few weeks ago. So that leaves Colin Hill/BVI at Pleasurama or anyone with $1 to put something around the Parkway rail station with KCC/TDC?

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