The madness of Jacob Rees-Mogg – he has cash invested in a blacklisted RUSSIAN bank
The Conservatives are heading for another embarrassing public relations disaster after it was revealed that Jacob Rees-Mogg has invested millions of pounds in a blacklisted Russian bank.
Sberbank, based in Russia, is currently under EU and US sanctions, imposed over the annexation of the Crimea by Russia in 2014.
Mr Rees-Mogg’s company, Somerset Capital Management Ltd, has £58 million invested in it.
Note also that the bank extended a huge line of credit to the Trump Tower developer. All in it together?
Jacob Rees-Mogg's firm invested in a blacklisted Russian bank. Sberbank is subject to sanctions by the US and EU (Reg. 833/2014.) The sanctions are for bombing civilians in Syria, hacking elections, murdering people aboard holiday jets or on our streets is unacceptable. pic.twitter.com/fXKWmwjQqO
— George Smiley (@georgescircus) March 18, 2018
It is being reported that the firm of Jacob Rees-Mogg manages nearly £100 million invested in Russia. I can't see much about it in the old mainstream media. Somehow I don't think they'd be so reluctant to report this if it was Jeremy Corbyn, rather than Rees-Mogg.
— Rachael Swindon (@Rachael_Swindon) March 19, 2018
Somerset Capital Management is also involved in tax-dodging, it appears:
Rees-Mogg's Somerset Capital Management LLC paid his limited company over £7m last year for "management charges". The LLC has a subsidiary in the Caymans and manages funds based in tax haven Delaware. pic.twitter.com/XLSmeZNQ9n
— Mr Ethical (@nw_nicholas) March 18, 2018
Meanwhile, two-faced Mr Rees-Mogg is sabre-rattling against his Russian business partners, claiming the UK should have a permanent base in the Baltics “to show Vladimir Putin that the West will not be ‘bullied’ by the Kremlin”.
Not only that, but he has said Britain should call on the Republic of Ireland to leave the EU single market and customs union as a way of avoiding a hard border with Northern Ireland.
Man who set fire to his house suggests best way to rebuild it is to get neighbours to set fire to theirs.https://t.co/3WQS9IJc3H
— David Schneider (@davidschneider) March 19, 2018
There is a reason this man has never held any position of responsibility. Long may it last. https://t.co/SG2r0yibhB
— Keir Starmer (@Keir_Starmer) March 18, 2018
Thing is Keir – Rees Mogg Hon Member for the 18th Century – now has a *platform* as Chair of ERG. !
A natural magnet for the MSM. https://t.co/NIxrzqqxym— Clare Hepworth OBE (@Hepworthclare) March 19, 2018
Clare Hepworth is correct. Mr Rees-Mogg is indeed in the chair of the large Conservative Party organisation which is, basically, conspiring to force the UK government into the hardest of hard Brexits (and succeeding, it seems).
Jacob Rees Mogg worries me more than Putin ever does, the man lives in an altered universe of yesteryear, can someone please tell him there is no empire anymore Ireland is NOT part of the UK… and we don.t need RW fascism in this country… don.t think much of his friends either https://t.co/KG2LwXximB
— Isobel_Waby we NEED a COALITION (@Isobel_waby) March 19, 2018
His friends in the ERG? His friends in tax havens? Or his friends in Russia?
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Rees-Moog, the thoroughly dishonest and odious Tory hypocrite. It would be interesting to see the results of a thorough Fraud Squad investigation into this man’s personal and business financial affairs.
This is one of the two (or more) faces of the ‘conservative’ party. Some of them are uglier than others: but they are all ugly!
If Rees-Mogg was changing the investment strategy of his firm to suit his political agenda there would be an outcry, and, indeed, it would be illegal for him to do so. His firm invests its customers’ money according to the criteria set out in their investment strategy. If I put money into a ‘green’ fund, then found out that the fund put money into oil, or refused to invest in electric vehicles due to their political views I would be justifiably outraged and would have a legal case against the firm.
This story is a shameful mud slinging exercise.