MANNIN: AFRICAN INVOLVEMENTS - WILL THE FSC AND FCU EVER WAKE UP?

When the Celtic League asked the Isle of Man FSC last year if they had taken any steps "to ascertain what dealings if any there have been via this jurisdiction by BAe or companies or individuals associated with them?" they were less than helpful.

Responding FSC boss, John Aspden, said "The FSC has not undertaken an investigation into the BAe allegations to which you refer". He added tantalisingly "However I cannot speak for other authorities on the Island who might more typically be involved in the type of criminal investigation to which you also refer." This statement we took to be a reference to the Islands Financial Crime Unit. (FCU Mission statement : 'Protecting the Island's financial reputation and guarding its financial community').

Now BAe and its questionable practices are back in the news with allegations that the British arms manufacturer paid at least £20 million to a firm linked to a Zimbabwean arms trader associated with Robert Mugabe's regime. That individual, John Bredenkamp, has had links with the Isle of Man and established companies here and in other offshore jurisdictions.

BAe and its alleged Bredenkamp links aside, it really is past time that both the FSC and FCU stopped 'sitting on their thumbs' and published a full and comprehensive report into all African adventures with links to this country.

At present the general economic rape and despoliation of Africa is in full swing. Periodically, links to arms deals and also corrupt mineral exploitation deals are publicised which link to companies in various offshore territories including the Isle of Man. It would be nice to have the full picture. Both the Financial Supervision Commission and the Financial Crime Unit are in a position to ascertain the extent of Mann's involvement in these 'African adventures' - for some reason they don't want to act!

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J B Moffatt Director of Information Celtic League

02/08/08