Richard Caring

From Powerbase
Revision as of 10:56, 13 February 2015 by Josh Leeson (talk | contribs)
Jump to: navigation, search

Richard Caring is a British retail magnate who owns a string of restaurants including The Ivy and the nightclub Annabel's in London.

HSBC Swiss leaks

In 2015 a a major investigation by the International Consortium of Journalists into leaked records from HSBC's Swiss banking arm revealed Caring as holding offshore assets in a tax-free Geneva account.

Clinton Foundation donor

Leaked HSBC bank’s internal records show Caring used his tax-free Geneva account to transfer $1m into the New York-based foundation.

Caring was legitimately permitted to keep his assets offshore by a hereditary quirk of UK tax law, under which he is registered as “non-domiciled”, courtesy of his Italian-American father. The HSBC records suggest Caring’s $1m donation was paid in return for former president Bill Clinton’s attendance at a lavish costume charity ball organised by Caring in St Petersburg, Russia. [1]

Political donations

It was revealed in 2006, after pressure was put on the Labour Party to name their secret donors, that Caring had loaned them £2million. Soon after Labour revealed their list, new laws were put into place to ban secret loans to parties.[2]

Date Amount Type of donation Party donated to Subsidiary of party
31/03/2010 £28,993.82 Sponsorship Conservative Party Central party
31/03/2010 £140,000.00 Auction prizes Conservative Party Central party
23/07/2012 £45,506.93 Sponsorship Conservative Party Central party
23/07/2012 £7,500.00 Cash Conservative Party Central party

[3]

The Black and White Ball 2015

On 9 February 2015, the Conservative Party held their 'Black and White ball' election fundraiser at the Grosvenor Hotel in London. The event was attended by almost the entire Cabinet, except for Boris Johnson and George Osborne who were at the G20 in Istanbul.

Party donors at the ball included: hedge fund boss Stanley Fink (Lord Fink), who wants Britain to rival offshore tax havens with an equally generous tax regime; Subaskaran Allirajah, the founder of Lycamobile, who paid no corporation tax between 2007 and 2014 despite generating millions in revenue; jewellery tycoon Ranbir Singh Suri; and lap dancing club owner Peter Stringfellow.

To raise funds the Party also auctioned one-off prizes, including events with ministers. Richard Caring donated a night's exclusive use of his private members' club 'Annabel's', which sold for £110,000.[4][5]

Affiliations

External resources

Notes

  1. Paul Lewis in New York and James Ball in London, Clinton foundation received up to $81m from clients of controversial HSBC bank, The Guardian, 10 February 2015 06.00 EST, accessed same day
  2. BBC News, Labour reveals secret loans list, 20 March 2006, accessed 13 February 2015
  3. Electoral Commission, Donation Search, accessed 11 February 2015
  4. Rajeev Syal and Rowena Mason Conservative donors pay up to £15,000 for table at election fundraiser The Guardian, 9 February 2015, accessed 11 February 2015
  5. Rajeev Syal, Rowena Mason and Robert Booth Right bids? Tory auction offers shoe spree with May or 10km run with IDS The Guardian, 10 February 2015, accessed 11 February 2015