Extract from end of business adjournment debate on British Justice System and International Corruption Cases - Feb 28

Sir David Davis (Haltemprice and Howden) (Con):...A report by the highly respected legal firm Norton Rose Fulbright  commissioned by TeliaSonera in the wake of its corruption scandal, noted that the

“nature of the services and the relationships provided”

by Amersi were

“not transparent, it appears often deliberately so.”

It stated that, in his dealings with TeliaSonera, Amersi

“was taking no obvious risk”,

and did not have the kind of overheads associated with an investment bank, yet was being paid like one. Throughout the report, Amersi was referred to as Mr “XY”, if Members care to read it. The report noted that in some cases he was apparently paid twice for providing the same service, at one point receiving a fee of $30 million. It also highlighted back-to-back payment arrangements—a classic laundering exercise—whereby TeliaSonera would pay his company, and his company would then pay the third party in question the same amount...

To read the whole debate, OPEN HERE