Why Did Harry Redknapp Use Monaco?
According to the prosecution Harry Redknapp used a bank account in Monaco to evade paying taxes on money he was paid as part of football transfers. The real question is why did he use Monaco and how come the ultra rich country isn’t scoffed at in the UK press in the same way as the Isle of Man, Jersey and Guernsey whenever the notion of offshore crops up?
It’s a serious point, when the UK press gets its knickers in a twist over offshore bank accounts and secrecy jurisdictions Monaco has never got a look in until today. Even then the press has only mentioned Monaco in a passing fashion, there has been none of the micro analysis, “tax haven” bashing that offshore centers closer to home enjoy. Also part of the whole deal was a company based in Miami but again this has only got a passing mention. If this company happened to be setup in the Channel Islands you could be sure we’d have been treated to a double page spread by now.
With so many apparently world class places to hide your money dotted around the UK, one of which the BBC would have you believe you can just set up an untraceable trust willy nilly, why would you choose to deal with Monaco? Maybe it’s because these white listed, well regulated jurisdictions aren’t quite such an easy place to hide money as people would have you believe? If you took the time to look who found themselves in the initial OECD Grey List compared to those White Listed jurisdictions you might just be surprised.
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