LibVan Calls For PAC Enquiry On EuroManx
Kate Beecroft and Peter Karran have been asking questions in the House of Keys since 2008 when EuroManx ceased trading owning the Manx Taxpayers over a million and a half pounds.
The unusual circumstances of the collapse of EuroManx in 2008 prompted LibVan MHK’s to ask the then Chief Minister and Treasury Minister for a full disclosure of the facts.
In May 2016, the then Minister for the Treasury, Eddie Teare MHK, was questioned by Peter Karran and Kate Beecroft to make a full disclosure of the Treasury’s role in the EuroManx affair.
When asked if he would support the Public Accounts Committee investigating EuroManx and Government’s conduct Treasury Minister Eddie Teare said, “I have no problem with the Public Accounts Committee having a look at it.”
The UK press reported on the 2nd of February 2017 the conviction and jailing for 15 years of a former Director of EuroManx and its associated companies.
The Director, David Mills, was described by the Judge as “a thoroughly corrupt and devious man” who corrupted officials for his own “staggering financial advantage”.
The frauds were reported to have plundered as much as one billion pounds from small businesses and the HBOS Bank.
LibVan calls for the Public Accounts Committee to undertake a full investigation of all the evidence surrounding the EuroManx collapse and its involvement with the Treasury and Government of the Isle of Man as a matter of urgent public interest.