THE ROT OF GIBRALTAR’S “GOLDEN SA-TURD-AY AWARD”

What a wag that Michael Howard was on Saturday.  But his timing is brilliant as we do have one little “mess” which needs sorting out urgently, and a bit of a hole – about the size of Howard’s mouth – in regulation and financial crime prevention in Gibraltar: the STM Fidecs/Trafalgar Multi-Asset Fund pension scam.

Known for many years as a haven for crooks, tax evaders, swindlers, fraudsters, money launderers, drug traffickers and assorted rascally turds, Gibraltar is also home to STM Fidecs.  Allegedly a pension “trustee” firm.  So, this blog is addressed directly and unashamedly to STM Fidec’s Alan Kentish and David Easton.

“Alan and David, the word “trustee” has got the “trust” bit in it for a reason.  Members are supposed to be able to trust a pension trustee to ensure that investors are not advised by a two-bit, unregulated, serial scammer.  And further, that they are not advised by a two-bit, unregulated, serial scammer who is also the investment manager of the very UCIS scam he is promoting to UK residents who should never have been put in a QROPS in the first place.  And further still, that the investors’ pensions are not 100% invested in that high-risk, toxic rubbish which is illegal to be promoted to UK residents.

Talking of words, I was curious as to what “Fidecs” actually means and when I Googled it, I got “fighting infectious diseases in emerging countries”.  Well, that’s about right if you ask me.  And who asked me?  Victims of the Trafalgar Multi-Asset Fraud (£21 million suspended and arguably worthless).  And a dying elderly man to whom you caused immense anguish by refusing to release a portion of his pension so he could have life-saving cancer treatment – and whom you gagged when eventually you did relent (although he had told me all about before you gagged him).

And talking of gagging, what about the woman you gagged because she worked for you and objected strongly to the amount of business you were signing off which was non-compliant and would put investors at risk?  She happened to know what she was talking about because she had been a victim of the scammers at Holborn Assets in Dubai who came close to losing her all of her pension – so she knew her stuff.  So you gagged her too – but not before she had told me every detail – as she is a member of the Pension Life Group Action.

So, Al and Dave, I am sure it goes without saying that you won’t be gagging me, and a detailed report is being prepared for Messrs. Coles, Crossman, Tricker, Ashton, Barrass and Garner.  It would be nice if you came forward, admitted your negligence like men and put your professional indemnity insurers on notice without squirming and slithering around.

Let’s see if you are men; whether you can put the “trust” back in “trustee”, take the turd out of Saturday and kick the rot out of Gibraltar.  Then Lord Howard can take his foot out of his mouth and Gib might have a chance of rescuing its tarnished imagine as the harbourer of financial crime.”