Disgraced finance manager Neil Woodford can set up new venture in notorious tax haven of Cayman Islands
Disgraced finance manager Neil Woodford is poised to set up his new venture in notorious tax haven, the Cayman Islands.
Woodford, whose Equity Income Fund was at the middle of a scandal a couple of decades back ,’d previously indicated his company can possibly be established in Jersey.
But following the summit dependency regulator cautioned it would not be able to be utilised as a’backdoor’ to re start the 61-year-old’s livelihood, he’s switched to that the Caribbean, based to financial internet site Citywire.
Life’s a beach: Neil Woodford is said to have enrolled WCM Partners Healthcare about April 16 in that the Caymans
He’s said to have enrolled WCM Partners Healthcare on April 16 in that the Caymans, a British foreign land.
The islands were termed’certainly one of the planet’s most notorious tax havens’ from Oxfam this past calendar year, thanks to that their light touch regulatory regimen and taxation exemptions.
It comes afterwards Woodford’s decision to take up a new fund motivated dismay among politicians and acquaintances that lost under the stock-picker.
Some #200-million is owed to investors.
The finance’s meltdown is being researched by City authorities, while a legal conflict can be penalized over reimbursement for Investors.