Former Barings chief comes out of the closet


So Andrew Tuckey has not been demoted to a broom cupboard in the basement of the new Barings building. That story now appears to have been put about for the benefit of the Bank of England.

The former deputy chairman of Britain's oldest bank - who resigned "as a matter of honour" after failing to spot a pounds 900m loss - is in fact enjoying a spacious office on the executive floor. This in spite of promises from the Bank of England Governor, Eddie George, that he would need his approval to work again in the City.

"It may look like a large office but he is sharing it with someone,'' says a Barings man who appears embarrassed by the presence of the man known as Teflon. Now a consultant to the bank's corporate finance arm Mr Tuckey is still the subject of a Securities and Futures Association investigation.

"You should not be on this floor and you should not be looking in that direction,'' says the banker. Sorry.

Forte makes a second strategic blunder in its bid to stay out of Gerry Robinson's clutches. The recruitment of Cazenove to the phalanx of Forte advisers has given the Granada boss another opportunity for espionage. Much like the executive dining rooms at fellow advisers SBC Warburg, the Caz refectories are also supplied by Sutcliffe, Granada's contract catering division.

Mr Robinson might consider the purchase of a waiter's uniform and a silver platter a sensible investment.

The more one thinks about it the more lenient Nick Leeson's sentence looks. Six and a half years in Singapore's Changi jail is a day at the beach compared with the penalties being handed down in the Far East for other forms of financial crime. China, for example, has imposed the death penalty for fiddling the VAT man.

To the Western mind (Customs & Excise excepted) this might appear a little harsh. But the Singapore press notes that VAT fraud is widespread in China, with 943 cases reported last year at a cost of 24.78bn yuan (a lot of wonga). The death penalty takes effect from next April and applies to those "making and selling fake VAT invoices''. Any tax officials implicated in VAT fraud will also be executed.

But that is not an end to the matter. The authorities have also cut VAT export rebates, claiming that it would take China two years to pay the 55bn yuan it owes exporters in unpaid rebates.

"I want to say I am sorry,'' said Xiang Huaicheng, deputy director of the national taxation administration. "The Ministry of Finance does not have the money.''

Michael Green, the cigar-chomping chairman of Carlton Communications, is suitably underwhelmed by the news that the Independent Television Commission is to give a total of pounds 800,000 back to the 16 ITV companies in the form of licence fee rebates. "It will pay for my children's school fees,'' sniffs the media mogul, "but it's not going to double the share price.''

One wonders which lofty establishment Mr Green's children go to.

Suggested Topics
Life and Style
A teenager boy wakes up.
Life and Style
Researchers have said it could take only two questions to identify a problem with alcohol
food + drink
Arts and Entertainment
Critics say Kipling showed loathing for India's primitive villagers in The Jungle Book
filmChristopher Walken, Bill Murray, Scarlett Johanssen Idris Elba, Andy Serkis, Benedict Cumberbatch, Cate Blanchett and Christian Bale
Life and Style
Playing to win: for Tanith Carey, pictured with Lily, right, and Clio, even simple games had to have an educational purpose
lifeTanith Carey explains what made her take her foot off the gas
Life and Style
Arts and Entertainment
A still from Duncan Campbell's hour-long film 'It for Others'
Turner Prize 2014
Life and Style
food + drink
Arts and Entertainment
Tony Hadley in a scene from ‘Soul Boys Of The Western World’
musicSpandau Ballet are back together - on stage and screen
Arts and Entertainment
From left to right: Ed Stoppard as Brian Epstein, Sheridan Smith as Cilla Black and Elliott Cowan as George Martin in 'Cilla'
tvCilla review: A poignant ending to mini-series
Life and Style
Bearing up: Sebastian Flyte with his teddy Aloysius in Brideshead Revisited
lifePhilippa Perry explains why a third of students take a bear to uni
Arts and Entertainment
Sir Alan Sugar appearing in a shot from Apprentice which was used in a Cassette Boy mashup
artsA judge will rule if pieces are funny enough to be classed as parodies
ebooksAn unforgettable anthology of contemporary reportage
Latest stories from i100
Have you tried new the Independent Digital Edition apps?
Independent Dating

By clicking 'Search' you
are agreeing to our
Terms of Use.

iJobs Job Widget
iJobs Money & Business

Trust Accountant - Kent

NEGOTIABLE: Austen Lloyd: TRUST ACCOUNTANT - KENTIf you are a Chartered Accou...

Graduate Recruitment Consultant - 2013/14 Grads - No Exp Needed

£18000 - £20000 per annum + OTE £30000: SThree: SThree are a global FTSE 250 b...

Law Costs

Highly Competitive Salary: Austen Lloyd: CITY - Law Costs Draftsperson - NICHE...

SQL Developer (Stored Procedures) - Hertfordshire/Middlesex

£300 - £330 per day: Ashdown Group: SQL Developer (Stored Procedures) Watford...

Day In a Page

Isis is an hour from Baghdad, the Iraq army has little chance against it, and air strikes won't help

Isis an hour away from Baghdad -

and with no sign of Iraq army being able to make a successful counter-attack
Turner Prize 2014 is frustratingly timid

Turner Prize 2014 is frustratingly timid

The exhibition nods to rich and potentially brilliant ideas, but steps back
Last chance to see: Half the world’s animals have disappeared over the last 40 years

Last chance to see...

The Earth’s animal wildlife population has halved in 40 years
So here's why teenagers are always grumpy - and it's not what you think

Truth behind teens' grumpiness

Early school hours mess with their biological clocks
Why can no one stop hackers putting celebrities' private photos online?

Hacked photos: the third wave

Why can no one stop hackers putting celebrities' private photos online?
Royal Ballet star dubbed 'Charlize Theron in pointe shoes' takes on Manon

Homegrown ballerina is on the rise

Royal Ballet star Melissa Hamilton is about to tackle the role of Manon
Education, eduction, education? Our growing fascination with what really goes on in school

Education, education, education

TV documentaries filmed in classrooms are now a genre in their own right
It’s reasonable to negotiate with the likes of Isis, so why don’t we do it and save lives?

It’s perfectly reasonable to negotiate with villains like Isis

So why don’t we do it and save some lives?
This man just ran a marathon in under 2 hours 3 minutes. Is a 2-hour race in sight?

Is a sub-2-hour race now within sight?

Dennis Kimetto breaks marathon record
We shall not be moved, say Stratford's single parents fighting eviction

Inside the E15 'occupation'

We shall not be moved, say Stratford single parents
Air strikes alone will fail to stop Isis

Air strikes alone will fail to stop Isis

Talks between all touched by the crisis in Syria and Iraq can achieve as much as the Tornadoes, says Patrick Cockburn
Nadhim Zahawi: From a refugee on welfare to the heart of No 10

Nadhim Zahawi: From a refugee on welfare to the heart of No 10

The Tory MP speaks for the first time about the devastating effect of his father's bankruptcy
Witches: A history of misogyny

Witches: A history of misogyny

The sexist abuse that haunts modern life is nothing new: women have been 'trolled' in art for 500 years
Shona Rhimes interview: Meet the most powerful woman in US television

Meet the most powerful woman in US television

Writer and producer of shows like Grey's Anatomy, Shonda Rhimes now has her own evening of primetime TV – but she’s taking it in her stride
'Before They Pass Away': Endangered communities photographed 'like Kate Moss'

Endangered communities photographed 'like Kate Moss'

Jimmy Nelson travelled the world to photograph 35 threatened tribes in an unashamedly glamorous style