I can’t understand how something as scandalous as the King affair even happened? The biggest IoM financial scandal since 1982.
According to a Senior Civil Servant we were watertight and the Government examines and understands the type of business that it brings into the island. They “really” understood what they were sponsoring, a Pig Butchering operation and, considered the risk they posed to the Islands reputation so, they must have thought that this type of business fitted into Alf’s plan, that it posed no reputational risk and they subsequently approved it and I quote a certain Lyle Wraxall, CEO of Digital Isle of Man who created an application process and a panel to deal with such a situation. It would be interesting to know who comprised this approval panel? That might give a firmer indication as to whether or not we have a two tier process. In the meantime and until the investigation is complete we surely have to remain open minded. See quote and link below
“Well, we’ve got a really good reputation in financial services and in e-gaming so we needed to make sure that we weren’t going to invite businesses in that were going to damage that reputation. I created an application process and a panel which first and foremost really looks at businesses, understands what they’re trying to achieve and make sure there’s not going to be any reputation risk to the island.”
https://thefintechtimes.com/lyle-wraxall/