Ashcroft’s donations under new scrutiny
Money channelled through a Belize-based company raises new questions about Conservative vice chairman
Lord Ashcroft has sparked new controversy, as it emerged he used several
companies to move money from the tax-haven of Belize to fund the Conservative
Party.
A Belize-based company, Stargate, bought shares in a small British company
which then bought shares in another company, Bearwood Corporate Services. This
led to money being moved from Belize to Britain.
All the companies are thought to be connected to Lord Ashcroft, and the
donations were attributed to him by Tory officials. Bearwood Corporate Services
is one of the Conservatives’ biggest benefactors, donating more than £5m during
the past six years, reports
the
Telegraph.
The arrangement was ruled legal yesterday by the Electoral Commission, which
regulates political donations. However, its ethical basis has been questioned.
The Conservative peer, and deputy chairman, caused controversy earlier this
week by admitting he was non-domiciled and therefore only paid tax on his
British assets.
Further reading:
Ashcroft
admits non-dom status
