web counter
LEXO PA REKLAMA!

SHKARKO APP

App Store
Google Play

E fundit!

x

The businessman deceives the council / Receives 655 million pounds for investment and buys a yacht and a private jet

2023-08-01 16:57:00, Kosova & Bota CNA
The businessman deceives the council / Receives 655 million pounds for
Businessman Liam Kavanagh

Businessman Liam Kavanagh defrauded Thurrock council in Essex, England and took tens of millions of pounds.

He applied for funding claiming he wanted to invest in his own solar farm and the council would then receive interest from the business's profits.

But instead of investing in his solar farm, Kavanagh used the money he received from Thurrock council to buy luxury goods, including a yacht and a private jet.

The BBC and Bureau of Investigative Journalism investigation has revealed how the value of Liam Kavanagh's solar farms was inflated to convince the council to invest more money.

The businessman deceives the council / Receives 655 million pounds for

By 2018, Thurrock had invested more than half a billion pounds in the farm business, but the businessman convinced the council to invest a further £130 million.

The documents revealed that Kavanagh spent council money on himself. The latter has sent 12 million pounds to a company to buy a private jet. He spent 2 million pounds on his car "Bugatti Chiron", 16 million on his yacht "Heureka" and another 40 million pounds were deposited in a bank account.

The businessman's lawyers say that all the payments were regular, as they were approved by the financial team and the auditor of his company.

This is sending the council into bankruptcy, having invested £655 million in Kavanagh's solar farm business. The council has been forced to cut services and impose a levy.

Meanwhile, Kavanagh no longer lives in the United Kingdom./ CNA.al





Lajmet e fundit nga