Apologies
for not posting recently, and further apologies in advance as I may not post
much in coming weeks. Daytime reality, sadly, is getting in the way of my other
interests.
But for
now, this (see http://www.gov.im/lib/news/hr/iomcs/isleofmancivilse.xml
) makes amusing reading to anyone who has been around offshore finance long
enough to remember ‘the Sark Lark’.
For those
that don’t, it was a scam, ended around 2003 on ‘advice’ from the OECD
Financial Action Task Force (see http://www.fatf-gafi.org/
), whereby Sark residents were recruited to
act as ‘directors’ and’ trustees’ of shady offshore structures. Not professionals
with business qualifications or experience of, say, banking and trust
management, mind you, but simple souls who could just about spell their own names,
and not much else. To be fair, Sark wasn’t the
only place this happened in the bad old days, and much of the recruiting was
done by Manx outfits whose staff will have now retired – some from senior
government posts and with honours from Her Maj.
Actually,
that isn’t the only reason it makes amusing reading. For some time I’ve been
following the civil war on Sark between the
locals and two unpopular newcomers (who just happen to run a large bank).
Private Eye has carried some of the best stories, but http://www.guardian.co.uk/uk/2012/jun/28/grandees-sarkees-channel-island-feud
will give you a pretty good idea what Mr Kniveton is walking into. However, if
you really want on-the-spot progress reports from a native, keep an eye on http://ebenezerlepage.blogspot.co.uk/
, where, somehow, I feel sure we will soon be reading a somewhat frank
appraisal of his progress. Meanwhile, if you’ve ever had dealings
with Sark, take a read through to find what names behind the illegible
scribbles on many a corporate document are doing since their old ‘business
empires’ collapsed earlier this decade.