Remember the Libor scandal? It seems Boris Johnson is connected to it

Boris Johnson: The more we find out about his corrupt friends, the less suitable he seems as prime minister.

Here’s an interesting snippet from Private Eye, highlighted by Beastrabban:

Private Eye in their edition for 12th-25th July 2019 carried an article revealing that two of BoJob’s donors were also responsible for Libor fiddling. The article, ‘Dough Nuts’ on page 5 ran

The latest register of MPs’ interests reveals Boris Johnson’s earnings from speaking engagements in the past six months alone came to £356,267.36. It also identifies the moneybags sponsoring his leadership bid.

One such is Alex Wilmot-Sitwell, who was co-chief executive of UBS’s investment banking division during the era of the Libor scandal. Here is what Andrew Tyrie MP, chairman of the parliamentary commission on banking standards, said in January 2013 of Wilmot-Sitwell and three of his UBS colleagues: “Since they’ve just acknowledged in front of us that they were ignorant and grossly incompetent… it strikes one they shouldn’t be on an approved persons list.” A month later, the bank was fined £940m by US and UK regulators for Libor rigging. 

Another of the new donors to the Johnson cause is IPGL Ltd, which gave £20,000 on 28 May. The majority shareholder in IPGL is former Tory party treasurer Michael Spencer, whose firm Icap (run by Spencer and owned by IPGL) was also fined for its role in Libor-rigging. Three years later, the Cabinet Office’s head of ethics blocked David Cameron’s recommendation that Spencer receive a peerage.

Johnson isn’t the only leadership candidate to benefit from Spencer’s largesse. In April he offered a member of staff at a cost of £28,980 to work for Dominic Raab. On 28 May he handed £20,000 to Michael Gove. A week later Jeremy Hunt got the same amount. One thing’s for sure: Spencer has backed the winner.

Which is just another little piece of information showing how corrupt BoJob’s business connections and sponsors are.

The scandal over LIBOR (the London InterBank Offered Rate of interest, calculated through submissions of rates by major banks across the world) broke out when it was discovered in 2012 that banks had been falsely inflating or deflating their interest rates to profit from trades, or to give the impression that they were more creditworthy than they were.

The Beastrabban piece links also to a Zelo Street article connecting Jennifer Arcuri – to whom Mr Johnson is alleged to have shown inappropriate favouritism during his time as London Mayor – with convicted LIBOR fiddler Tom Hayes.

So it seems people with connections to the LIBOR scandal added their support to Mr Johnson’s Tory leadership campaign – and we’re hearing that people who supported him are trying to rig Brexit in order to make billions of pounds from the damage “no deal” would cause (plummeting pound, skyrocketing inflation).

It seems Mr Johnson’s connection with all these alleged fiddlers is so strong that, when he retires from politics, he should probably join them in a string ensemble.

Have YOU donated to my crowdfunding appeal, raising funds to fight false libel claims by TV celebrities who should know better? These court cases cost a lot of money so every penny will help ensure that wealth doesn’t beat justice.

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No Comments

  1. timfrom September 30, 2019 at 2:58 pm - Reply

    Nice reference to The Ladykillers at the end there, Mike!

  2. lini2 September 30, 2019 at 4:22 pm - Reply

    As I’ve never known you to lie in the the years of supporting you wit & I have a question to ask..for all supporters too… Is he involved with next coming crash that’s is going to happen quite soon if the stock market crashes. A great opportunity for moving to digital cash & more control of us, the people.

  3. Gary September 30, 2019 at 7:03 pm - Reply

    There’s not much that ISN’T rigged; Libor, precious metals, toxic debt, short trading on the pound by those close to government. We’ve had a husband of a previous PM using a company to asset strip businesses that his wife, the PM, shut down and both went on to offshore their money assets and pay less tax than their cleaner. Cash for honours, dodgy donors, donors buying juicy contracts and being allowed ‘sweetheart deals’ by the head of HMRC. On and on it goes..

    We need several things in this country. A written constitution with fixed rules about how parliament acts, the PM acts and the Lords to be democratically elected for a fixed term – we STILL have hereditary peers and Church of England Bishops. The Queen should have NO political role whatever, not even ceremonial. And THEN we need the parliament to enact what they promised to do lest they break the trust of an entire country.

    There IS no democratic route to overturn Brexit, all parties have been looking for a way for the past three years and have not found one. They will have to let this happen eventually.

    There is now an additional problem. Having a majority of MPs in their own country (they were told this would be all that was necessary by Thatcher to achieve independence) having a majority in favour of a second referendum in Holyrood (Now is not the time – T May) and the Edinburgh Act said that another referendum could be held (paraphrasing) ‘if there was a material change in the relationship of Scotland and the UK’ and the example given (by SNP) at the time was “if Scotland was dragged out of the EU against her will” Currently the polling for support of independence is over 50% consistently. Most want independence, there’s a majority of MPs and MSPs and it HAS been requested. It meets the terms of the existing legislation and yet IS BEING IGNORED. Scotland has run out of democracy as Tories, LibDems AND Labour all seek to deny them their ability to have a democratic vote as set out in the Edinburgh Act.

    Democracy is being denied by politicians across the spectrum, what can people do when their elected representatives no longer respect THEM, DEMOCRACY or even the legislation that they themselves have voted to enact??

    • Mike Sivier October 1, 2019 at 10:40 pm - Reply

      Er, Jeremy Corbyn has said he would support another Scottish independence referendum.

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