Well now, this is news from the Paradise Papers

Angola sovereign wealth fund’s manager used its cash for his own projects
Jean-Claude Bastos de Morais denies conflict of interest as Paradise Papers show he stands to benefit from investments

We are all surprised about that, aren’t we? Dictatorial oil supported country is corrupt?

4 thoughts on “Well now, this is news from the Paradise Papers”

  1. This is the real problem exposed by the Paradise Papers. Had it not been for the leek, nobody anywhere would ever know that a nation’s taxpayers had been fleeced (for that is who put the money into that fund).

    There is a requirement for some transparency in the financial system; these tax havens work by helping crooks to sidestep that.

  2. i’m still waiting for the analysis on why Man City , PSG kind of mega investment by sov wealth funds actually is supposed to make money. Without that i’m forced they are a misappropriation of the nations funds for glamour projects that pique the interest of someone in the rulers’ clan.

  3. Manchester City does make money. Their accounts have been in the black for a few years now and the club is cash rich with no debt. Sheik Mansour has invested his own money in his personal capacity in creating City Football Group which also owns New York City, Melbourne City, Club Atletico Torque (Uruguay) and owns stakes in Yokohama Merinos and Girona.

    I recommend you take a trip to the Etihad campus and have a look at the result of the investment, not only in the club but also the training facilities, the 6th form college on Alan Turing Way and all the local community initiatives.

    Not having a pop at you, HB, but when other fans and pundits criticize City for being funded by “Arab oil money” I have to ask whose money they would rather have then? Some dodgy American who took out a loan to fund the purchase of the club and then transfer the loan to the club leaving it in debt in perpetuity?

  4. Further to the above, it is great fun winding Manchester United fans up telling them that every time they fill up their cars they are paying Sergio Aguero’s wages.

Leave a Reply

Your email address will not be published. Required fields are marked *