UK REFUSED TO RAID A COMPANY SUSPECTED OF MONEY LAUNDERING

Buzz Feed on 19th April, as part of an investigation into the case, claimed that the UK refused to assist a French investigation into suspected money laundering and tax fraud by the UK telecoms giant Lycamobile.  The article claims that the fact that the company is the “biggest corporate donor to the Conservative party” and gives money to a trust founded by Prince Charles were factors.  It goes on to say that HMRC had said that Lycamobile would be likely to challenge any raids on its properties in court and may succeed because the French request did not contain enough “solid information”.  The request stalled, and Lycamobile’s UK offices were never searched.  The article details the case against Lycamobile.

https://www.buzzfeed.com/heidiblake/uk-refused-to-raid-lycamobile-citing-its-tory-donations?utm_term=.jhAll6D5d#.pnLQQ8x2W

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s