Exaro News Archive Exposed: Cayman payments linked to Saudi defence deal

Exposed: Cayman payments linked to Saudi defence deal

-

Exposed: Cayman payments linked to Saudi defence deal

By Mark Watts and Andrew Bousfield | 15 May 2012

Exposed: Cayman payments linked to Saudi defence dealExaro today publishes details of secret payments linked to a Saudi defence deal that went to two offshore accounts. Our exposure of the payments revives allegations of massive bribes to secure defence sales to Saudi Arabia.

GPT Special Project Management, a British subsidiary of EADS, Europe’s biggest defence company, is the prime contractor to supply high-tech communications equipment to the Saudi Arabian national guard in a 10-year programme reportedly worth £2 billion.

A financial officer working at GPT Special Project Management compiled the schedule of payments, valued in Saudi riyals, pounds sterling and euros.

The first section of the schedule, drawn from invoices and bank documents, shows payments made by GPT Special Project Management – between July 10, 2007 and April 24, 2009 – to Simec International, a company in the Cayman Islands.

The second and third sections of the schedule shows further payments between the same companies, drawn in all but two cases from bank documents, on December 9, 2009 and July 4, 2010.

This brings the total paid to Simec International, to just under £14.4 million.

The fourth section shows a single payment of just under £141,000, again based solely on bank records, by GPT Special Project Management on July 4, 2010 to Duranton International, another company in the Cayman Islands. Simec International and Duranton International, both registered in the Cayman Islands, are not to be confused with companies of the same or similar names registered elsewhere.

The payments shown in the first two sections pre-date the time when another executive at the company reported his concerns to officials working for the UK Ministry of Defence about the transfers. The third and fourth sections post-date that report.

Click on the link below to download the full document. Exaro has slightly edited the schedule for legal reasons and for clarity.

Meanwhile, Exaro also today reveals a letter that Richard Alderman wrote in January, as director of the Serious Fraud Office, to Ian Foxley, a former GPT executive who reported “irregular” payments linked to the Saudi deal.

Sarah Davies
Sarah Davieshttps://www.exaronews.com/
Exaro News investigates matters of public interest and seeks to uncover the truth.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Latest news

EXARO NEWS – WEBSITE FOR SALE

CLICK HERE - BUY AT GODADDY        

Man shot in the head on his way home from work, then victimized by Monroe County Sheriffs

In this episode Shawn Ryan sits down with Don Bradley A.K.A. Head Shot Don, who is a former Green...

Huge spike in coronavirus infections and deaths

There was a huge spike in confirmed coronavirus infections today, along with a significant spike in deaths. Total Confirmed Cases:...

Six-year-old kids armed and trained to fight Mexican drug cartels

A child militia in Mexico’s southwestern state of Guerrero is training boys, some as young as 6, to serve...

Canadians Targeted in Debit Card Fraud, Check Your Bank Statements

A number of Canadians have been affected by debit card fraud in the past 30-days despite never having used...

Marshall County Man Convicted of Federal Cyberstalking and Gun Crime

A Marshall County man was convicted Thursday afternoon of cyberstalking as well as a federal gun violation following a...

Must read

You might also likeRELATED
Recommended to you