HSBC ACCUSED OF LAUNDERING OVER £5M DIRECTLY TO TORY HQ

02/05/17

HSBC ACCUSED OF LAUNDERING OVER £5MILLION DIRECTLY TO TORY HQ 

Roger Mullin, SNP Treasury spokesperson, has sent a shocking letter to Claire Bassett, Chief Executive of Party and Election Finances at The Electioral Commission. 

In the letter Mr Mullin refers to ‘serious allegations’ made at the HSBC bank AGM.

At the AGM Fionn Travers-Smith from Move Your Money, accused HSBC of giving significant ‘loans to a company called IPGL led by the former Treasurer of the Conservative party & current chair of the Conservative party foundation Mr Michael Spencer.’

‘In essence the allegation was not refuted, was that HSBC loaned to IPGL over £200m from 6th October 2008 onwards. The company was in some financial distress. Despite this it is reported that in excess of £5 million of HSBC loans have been laundered directly to Conservative Headquarters.’

Mr Mullin has called for an immediate investigation into the allegations by The Electioral Commission.

Roger Mullin has asked four key questions that need to be answered as soon as possible, especially as the UK is currently holding a snap General Election.

1. Did HSBC and IPGL inform the Electioral Commission of all donations to the Conservative party during the period IPGL was in receipt of a substantial loan from HSBC?

2. What is the Electioral Commission’s policy where banks loans to companies in distresss are then laundered to party political donations?

3. Will the Electioral Commission launch an immediate investigation into whether electioral law has been broken by HSBC and IPGL since 2008?

4. In the Electioral Commission’s view have such loans any implications for full and proper declarations relating to the 2017 General Election?

The serious nature of these allegations should send shockwaves in Conservative HQ and comes on top of the 2015 Tory Election fraud, with the Crown Prosecution Service set to announce in the next few weeks if anyone will face criminal charges.

Theresa May should be very worried!

B heard media

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