The Prime Minister and the King of Fraud

According to the Times, Glen Moreno, the man Alistair and Gordon appointed as Chairman of UK Financial Investments (the government body that is to manage the taxpayer stake of 37 thousand million quid in the banks) is a wee bit dodgy.

He apparently spent 9 years working as a trustee for corrupt as fuck private bank, the Liechtenstein Global Trust (LGT). One of his jobs was making decisions on staff bonuses- something he will now be doing at UKFI in relation to the benefits being claimed by bankers at RBS and Lloyds

Last year LGT secretive practices were upset when a disgruntled employee sold the lowdown on its clients and tax dodging services, offered to firms and various mafias involved in money laundering, drug dealing and people traficking clients, to a number of European governments.

"Heinrich Kieber was paid €4.2 million by the Federal Ministry of Finance for the data on which the investigation is based. Facing death threats, the informant is currently in hiding and has asked for police protection"
On 2008-02-24 it became apparent that secret bank information had also been sold to the British tax authorities and that about 100 individuals in the UK are at risk for investigations for tax evasion."
 http://en.wikipedia.org/wiki/2008_Liechtenstein_tax_affair

"Moreno quit as a trustee last April, two months after it was first reported that financial details of thousands of clients had been passed to the German tax authorities by Heinrich Kieber, a bank technician
Moreno, 65, was appointed last month by Alistair Darling, the chancellor, as acting chairman of UK Financial Investments (UKFI), which manages the government’s stakes in Royal Bank of Scotland and Lloyds Banking Group, which includes HBOS
“If this had been the US, he would not have survived the scrutiny process for senior figures who are given public appointments,” said Cable. “It speaks volumes about this government’s priorities when it seems happy to give a major post to somebody whose CV suggests a high degree of cynicism about the operation of tax havens.”
The Treasury press release announcing his appointment detailed his past achievements but found no room to mention his post in the tax haven.
The senate committee hearings last summer revealed extraordinary covert practices at LGT. One witness alleged that to avoid detection by the tax authorities, LGT recommended that clients tell no one about their dealings with the bank, not even family members. It was claimed clients were advised never to call the LGT Group from their home or work and were told to use public pay phones instead. "

 http://www.timesonline.co.uk/tol/news/politics/article5683675.ece

But our Glen said he didn´t spot anything wrong. As far as he was concerned everything at LGT was above board.

To cap it all Glen and his mates at UKFI are all going to get wopping great bonuses themselves for their sterling work giving out bonus to their other banker mates.