Lingerie tycoon looks set to make IOM her new home

[NoTailT]

14 minutes ago, Wake Up Call said:

Any IOM acquisitions using the dodgy cash?

Only a yacht, a jet and a few properties.

[NoTailT]

28 minutes ago, John Wright said:

No. If you read the Twitter link it’s clearly a company incorporated and registered in England 

The ultimate ownership of which is trusts based in the Isle of Man, however. We already know this from previous reports.

[Wake Up Call]

1 hour ago, NoTailT said:

Only a yacht, a jet and a few properties.

Oh right. IOM Gov are on the case then to restore this dirty money. 

[Beyond Belief]

Nothing will change until the Isle of Man Financial Services Authority (the “IoM FSA”) has the intelligence/backbone to peruse and prosecute wealthy individuals/company directors/business owners who breach regulatory obligations. Corrupt individual/company directors/business owners should not be permitted to conduct business in or on the Isle of Man (“IoM”).

The IoM FSA concentrates on prosecuting low-hanging fruit for minor regulatory breaches to show MONEYVAL that they are doing their job, if you want to call it that. It is worth noting that the IoM FSA has historically discouraged companies/individuals from liaising directly with MONEYVAL anonymously. The question is, why? 

Furthermore, there is no Regulatory Whistleblowing protection on the IoM. A previous thread mentions Sutton V Creechurch. How often was that passed around someone’s desk before action was taken? Who protected that young man? No one, the only people to benefit were lawyers. How many cases are there like that, guilty until proven innocent? How many people would come forward with information that would lead to successful prosecutions without fearing persecution and financial ruin?  

Equally, those who have made false and malicious allegations should be held accountable.  

[Blade Runner]

13 minutes ago, Beyond Belief said:

Nothing will change until the Isle of Man Financial Services Authority (the “IoM FSA”) has the intelligence/backbone to peruse and prosecute wealthy individuals/company directors/business owners who breach regulatory obligations. Corrupt individual/company directors/business owners should not be permitted to conduct business in or on the Isle of Man (“IoM”).

The IoM FSA concentrates on prosecuting low-hanging fruit for minor regulatory breaches to show MONEYVAL that they are doing their job, if you want to call it that. It is worth noting that the IoM FSA has historically discouraged companies/individuals from liaising directly with MONEYVAL anonymously. The question is, why? 

Furthermore, there is no Regulatory Whistleblowing protection on the IoM. A previous thread mentions Sutton V Creechurch. How often was that passed around someone’s desk before action was taken? Who protected that young man? No one, the only people to benefit were lawyers. How many cases are there like that, guilty until proven innocent? How many people would come forward with information that would lead to successful prosecutions without fearing persecution and financial ruin?  

Equally, those who have made false and malicious allegations should be held accountable.  

THIS

Like all other IOM gov "regulators" they tie the SMEs up in stupid form filling but let the proper crooks away.

[Banker]

5 hours ago, Wake Up Call said:

Oh right. IOM Gov are on the case then to restore this dirty money. 

Well no wrongdoing are fraud has actually been proven so there’s nothing that can be done unless they’ve had a request from UK courts to seize IOM assets 

[Kopek]

You cant, on one hand, say that the FSA is too invasive and then, that they let miscreants slip though the net???

There must be some good investigators in the FSA, if some slip through the net it must be that the Leg. doesn't cover that situation???

Not as though England has been quick to crack down on PPE fraud!!!

[The Phantom]

13 hours ago, Banker said:

Well no wrongdoing are fraud has actually been proven so there’s nothing that can be done unless they’ve had a request from UK courts to seize IOM assets 

Exactly. No powers (yet) against the morally dubious acquisition of funds.

[Roxanne]

Dismissed director takes case to tribunal  

It will be interesting to see how this plays out...

 

Quote

 

A former director of island-based Knox Financial Group is taking a claim for unfair dismissal to tribunal.

Fudiciary services specialist Anthony Page, of Glen Vine, lodged his complaint to the employment tribunal on August 3.

He is claiming unfair dismissal/unfair redundancy including constructive dismissal.

His claim is against Knox Financial Group Ltd, Knox Private Office Ltd and Knox House Trust Ltd, all based at Samuel Harris House, St George’s Street, Douglas. No date has yet been set for the hearing

Mr Page was appointed diretor of Knox Financial on August 31, 2019. He was director of Knox Private Office from December 19, 2017 to June 28 this year and director of Knox House Trust from April 27, 2011 to May 5 this year.

He was also director and secretary of UK-based PPE Medpro, the company at the centre of a PPE contract inquiry, until his resignation on May 11 this year. The investigation into the procurement of contracts worth £200m to PPE Medpro has made numerous headlines in the UK media.

On his LinkedIn page, Mr Page said: ‘I am looking for a new role and would appreciate your support. Thank you in advance for any connections, advice or opportunities you can offer.

‘I am very concerned to see disputed matters that are pending judicial determination being aired in the media. I emphatically and totally deny the various allegations. I consider it inappropriate to comment further pending the outcome of my legal action.’

Mr Page was appointed director of PPE Medpro when the company was first set up on May 12, 2020.

The following month PPE Medpro was awarded two contracts by the UK’s Department of Health and Social Care during the Covid pandemic – the first an £81m one to supply masks and the second, worth £122m to supply surgical gowns – having been referred by Baroness Michelle Mone.

Michelle Mone and her husband Doug Barrowman, who own the Ballakew estate in St Mark’s, both strenuously deny any involvement with PPE Medpro.

A National Crime Agency investigation into PPE Medpro was launched in May 2021.

 

Meanwhile, a House of Lords Commissioners for Standards inquiry into Baroness Mone’s alleged involvement in the procurement of contracts for the company has been put on hold pending the conclusion of the criminal investigation.

The DHSC has also launched a civil case against the company seeking to recover taxpayers’ money in relation to the £122m surgical gowns contract.

A report by the the UK’s public accounts committee has concluded there were ‘serious defects’ in the Westminster government’s stewardship of public money during a time when the DHSC was ‘panic-buying’ PPE during the initial stages of the Covid crisis.

But it adds: ‘However, from the evidence in the materials made available to us we cannot comprehensively conclude whether emails from Baroness Mone and the route through the High Priority Lane led to the PPE Medpro offer being treated differently by government than other offers made in the same way during those abnormal times.’

In 2018 a whistleblower was awarded recorded damages of more than £685,000 after winning a tribunal case against the company that was part of the Knox group.

Robert Sutton was employed as a portfolio manager by Creechurch Capital Ltd from 2013 until February 2016 when he lost his £42,000-a-year job.

CCL, part of the Knox Group of Companies founded by multi-millionaire Doug Barrowman, claimed Mr Sutton was dismissed for gross misconduct for using the social media platform WhatsApp to talk to clients.

But the employment tribunal found he was sacked for discussing concerns about the company with the regulator, the Financial Services Authority.

 

 

 

 

 

 

 

[La Colombe]

Crikey. What a surprising acknowledgment. I expect it is all above board. 

[Non-Believer]

Lying jock mare. Much more to come, methinks.

[Cueey Lewis And The News]

2 hours ago, La Colombe said:

Crikey. What a surprising acknowledgment. I expect it is all above board. 

Probably because she’s been told to admit it, and pay back a big chunk of it, or they’ll take her peerage off her in an even more embarrassing way. 

[Shake me up Judy]

So, something fishy in her knickers after all...

[Omobono]

2 hours ago, Cueey Lewis And The News said:

Probably because she’s been told to admit it, and pay back a big chunk of it, or they’ll take her peerage off her in an even more embarrassing way. 

the peerage should go automatically  if there is any whiff of wrong doing ,  its the reputation   to the isle of man ,  damage  to the credibility of the finance  sector ,and at at time when the island is trying to rid itself of  shady dealings 

[jackwhite]

18 minutes ago, Omobono said:

the peerage should go automatically  if there is any whiff of wrong doing ,  its the reputation   to the isle of man ,  damage  to the credibility of the finance  sector ,and at at time when the island is trying to rid itself of  shady dealings 

Yeah, because all of those Lords are squeaky clean, aren't they?

I'm not sure it causes any more damage to the Isle of Man. Most in the UK don't know enough about us and still think of it as a 'tax haven'. Maybe it enhances that a smidgen, but I doubt most people would even register it much. 

I doubt there's anything the Isle of Man can do to keep her out unless she's breaching some sort of law here directly. Currently I don't think she is. 

Edited November 6, 2023 by jackwhite