interesting offshore accounts irt Bolton

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I think it makes sense, though uncomfortable reading

confusing (to me anyway ) and makes my blood boil Manda.

Chairmanda wrote:[You must be registered and logged in to see this link.]

I think it makes sense, though uncomfortable reading

It makes total sense. Fildraw is an offshore tax vehicle i.e. a trust. A Private Trust is just a fund that makes money through investments - basically the same as a pension scheme. - common practice as you can see from the "offshore league table" page. Moonshift is the local vehicle and that is a company that makes investments on behalf of investors - investors like Fildraw. We can't see who the Directors of Fildraw are but I would be amazed if they are not the Directors of Moonshift. 
ED sticks his dosh in the Caymans under the Fildraw banner and the more he lends to Moonshift/BWFC which remains unpaid the more Fildraw loses. The £124 million lost in 2013 may well have been bad debt from Moonshift already written off. 
So ED (Fildraw) lend the money to ED (Moonshift) who then lend it ED (BWFC.)
But ED (Moonshift) owes money to ED (Fildraw) but is owed money by ED (BWFC). 

In order to get 3% interest on my current account I put £20k in a Santander 123 account and transfer £500 every month into it by DD from another account. I then transfer £500 back by DD. It's a load of bollocks but it does make me around £540 a year after account fees and once the DDs are set up it happens automatically.
What ED has done here is just another tax efficiency measure and it's standard practice.

I'm sick of reading millions of posts trying to figure out what the fuck has been going on behind the scenes at our club over the last few years. It shouldn't be like this. Whatever else happens if we get new ownership it's going to be such a massive relief to finally get shut of Davies and Gartside and all the financial chicanery that they have presided over.
I have every confidence Holdsworth and Disley can lead us to the promised land.

Hip Priest wrote:
I have every confidence Holdsworth and Disley can lead us to the promised land.  

As I understand it they're in different consortia mate. 

But even if they weren't I'm afraid I wouldn't share your confidence in either man. Holdsworth is just a front man for guys who probably think an ex-player will make them palatable no matter what they plan to do and Disley's a greedy asset stripping scumbag. Sure he got off on appeal but I still wouldn't trust him as far as I could throw him. 

Of the two I'd probably lean towards the Holdsworth group (SSI) but frankly it's the lesser of two evils imo. I know someone has to buy us if we are to survive but I really hope it's not either of these groups because I suspect we'll wind up in a Portsmouth style situation if they get it.

The facepalm at the end means he's being sarcastic, Pete.

Don't take any more of those pills.

Breadman wrote:The facepalm at the end means he's being sarcastic, Pete.

Don't take any more of those pills.

Bread I am aware of that. Honestly. 

Would I tell you porkies?