12 Oct 2015
Reproduced with permission
27 Ladbroke Square
“It seems to me that this course has a high risk of challenge …. disclosure effectively would mean risking liability….
From my perspective, I would be concerned that were you to do so there would be a significant risk of discovery and of greater liability on your part and of that of the trust…. I am also conscious that GT had a liability cap of £2 million… I know the Income Tax liability exceeds that as it is but further costs on enquiry would compound the issue. … the advice GT [Grant Thornton London Accountants] were providing was in relation to a SDLT [Stamp Duty Land Tax] scheme to save some £250000 whereas their actions have given rise to a potential liability of £2.5 million.” [Advice to Mahony from his Jersey accountant at Rawlinson-Hunter]
“the property I own on Ladbroke Square belongs to a company, which in turn belongs to a trust. I am the beneficiary of that trust but I am not the direct owner of the property for reasons I’m sure you’ll be familiar with” [Patrick Mahony]
Money trail – how US$33m from 1MDB went to Patrick Mahony
Criminalising Justo – PetroSaudi’s plan for getting off the hook
Scotland Yard Detectives!