60 people were employed in "product development" which was an industry within the Bank. Overall, 100 people shared £100 million.
Complex footwork involving Luxembourg, The Cayman Islands, Abu-
Money stemming from the Gulf carrid an interest rate of 14% (credit card rates). But are they not not Moslems?
The Bank told the shareholders a project investment had been made for £3 billion. All very transparent would you say?
The "product development" department has gone! It brought in the bacon -
Even dividends not bad.
Sample year -
Risk covered by shareholders/underwritten.
Diamond's pay? Quizzed for months with no success. Then the Bank's annual report (statutory) was sure to have the information required by law. It was there but it was wrapped in 36 different places and took several weeks to fully uncover -
Tax avoidance schemes on an enormous scale.