According to a report in the Observer on Sunday, Jersey-based financial services firm, Mourant has been assisting US investigators with their enquiries regarding disgraced former energy trading giant, Enron.
The newspaper reported at the weekend that: 'Jersey has launched a probe into Mahonia, the offshore company which Congressional investigators in America say was used by JP Morgan Chase to help Enron hide its debts.'
The article continued: 'Investigators from the island's Financial Services Commission have questioned employees and demanded documents from Mourant, the Jersey financial services firm that runs Mahonia.'
The latter company stands accused of acting as a conduit for secret multi-million dollar loans to the energy trader, disguised as trades so as not to appear as debt on Enron's books.
However, all parties involved have denied any accusation of wrongdoing.
JP Morgan Chase has defended the arrangement as legitimate 'pre-pay' deals, and Mourant confirmed to the Independent that some staff members had been assisting Congressional investigators, but observed that: 'We are not aware of any investigation into Mourant itself by the Jersey FSC.'
.
Network Tweets
Network BlogsContent
provided by
|
Archive | Resources | Partners | Site Map | Links | Newsletter Archive | Contact | RSS Feeds | About | Syndication | Advertising & Marketing | Recruitment | Terms & Conditions | Privacy & Cookies
Copyright © 2012 - All Rights Reserved - Tax-News.com
IMPORTANT NOTICE: Tax-News.com has taken reasonable care in sourcing and presenting the information contained on this site, but accepts no responsibility for any financial or other loss or damage that may result from its use. In particular, users of the site are advised to take appropriate professional advice before committing themselves to involvement in offshore jurisdictions, offshore trusts or offshore investments.
Write a comment