Lord Moyne probe turns to Barclays accounts

British and Swedish investigators are pressing their investigation into the missing funds at Trustor, the Stockholm-based investment company controlled by Lord Moyne - Jonathan Guinness of the brewing dynasty - by concentrating their attention on a Barclays bank branch in Cheapside, London.

In June, Lord Moyne, 67, paid nearly pounds 20m to buy a 52 per cent voting stake in Trustor. Later pounds 48m was transferred from Trustor's account in Sweden to a Trustor account in London and then allegedly disappeared. Ten days ago, Peter Mattsson, 31, a friend of Lord Moyne, and another Swedish businessman, were arrested in Stockholm. Lord Moyne, blaming his Swedish associates for letting him down, insisted that he and his colleague, Lindsay Smallbone, who resigned as Trustor chief executive, had traced all Trustor's funds.

In a trail of staggering complexity, money moved from the Trustor account in Stockholm to the Barclays account in London. From there, some of it moved to other accounts in the UK and overseas. Some of these accounts were held in the name of the peer and others in a company account linked to Mr Smallbone, a New Zealander.

According to the Swedish state prosecutor, Bo Skarinder, who has yet to talk to Lord Moyne or Mr Smallbone, there is around pounds 10.6m in an account in Barclays Cheapside. "But I am not sure how much money is in the other accounts," said Mr Skarinder. "I am not sure about the information I have been given."

Mr Skarinder is waiting for a full report from Barclays Bank. Mr Smallbone, who at one stage had a pounds 450,000 first mortgage on his Chelsea home, held one of his many bank accounts at the branch. He was also a director of Glotec Mining, a small Welsh mining venture that banked at the branch. According to people familiar with the company's affairs, Mr Smallbone fell out with fellow directors over money.

The Barclays branch also held an account in the name of a company called Introcom. Investigators say they are interested in whether there are links between Introcom International, a Gilbraltar-registered company, and Introcom, a PR company implicated in a separate Department of Trade inquiry into Access to Justice. Lord Moyne was a director of this company, which was shut down by the Government in September after an investigation.

Lord Moyne was a director of Introcom, which was partly owned by Effex International Investment, a UK foreign exchange trading company that went bust in 1995 owing Norwegian and UK clients pounds 18m. Mr Mattsson, who later formed a company with Lord Moyne, resigned as a director of Effex before the company went under. His former partner Birger Oestraat was jailed for fraud.

Introcom used to arrange parties at the Tory Carlton Club for clients, including Mr Oestraat. Introcom was involved with the launch of Tajik Air, an airline that briefly operated from London to Tajikistan. The operation suspended flights in February 1994, and the City of London Fraud Squad was called in after complaints from creditors.

Neither Lord Moyne nor Mr Smallbone responded to phone calls. Ten days ago, Lord Moyne was removed after 40 years as a trustee of The Guinness Trust charitable housing association. According to Al Dankis, finance director of the Trust, he failed to attend a meeting at which each member of the board had to ratify the launch of a pounds 600m bond issue, the charity's first-ever City financing.

Copyright: IOS & Bloomberg

Sport
There were mass celebrations across Argentina as the country's national team reached their first World Cup final for 24 years
transfersOne of the men to suffer cardiac arrest was 16 years old
Life and Style
life“What is it like being a girl?” was the question on the lips of one inquisitive Reddit user this week
News
peopleDave Legeno, the actor who played werewolf Fenrir Greyback in the Harry Potter films, has died
Sport
Mario Balotelli, Divock Origi, Loic Remy, Wilfried Bony and Karim Benzema
transfersBony, Benzema and the other transfer targets
PROMOTED VIDEO
Life and Style
Swimsuit, £245, by Agent Provocateur
fashion

Diving in at the deep end is no excuse for shirking the style stakes

News
Detail of the dress made entirely of loom bands
news
Life and Style
beauty
Arts and Entertainment
Armando Iannucci, the creator of 'The Thick of It' says he has
tvArmando Iannucci to concentrate on US show Veep
Sport
German supporters (left) and Argentina fans
world cup 2014Final gives England fans a choice between to old enemies
Arts and Entertainment
A still from the worldwide Dawn of the Planet of the Apes trailer debut
film
News
peopleMario Balotelli poses with 'shotgun' in controversial Instagram pic
News
A mugshot of Ian Watkins released by South Wales Police following his guilty pleas
peopleBandmates open up about abuse
Sport
Basketball superstar LeBron James gets into his stride for the Cleveland Cavaliers
sportNBA superstar announces decision to return to Cleveland Cavaliers
Sport
Javier Mascherano of Argentina tackles Arjen Robben of the Netherlands as he attempts a shot
world cup 2014
Arts and Entertainment
The successful ITV drama Broadchurch starring David Tenant and Olivia Coleman came to an end tonight
tv
News
ebookA unique anthology of reporting and analysis of a crucial period of history
Sport
Four ski officials in Slovenia have been suspended following allegations of results rigging
sportFour Slovenian officials suspended after allegations they helped violinist get slalom place
News
14 March 2011: George Clooney testifies before the Senate Foreign Relations Committee during a hearing titled 'Sudan and South Sudan: Independence and Insecurity.' Clooney is co-founder of the Satellite Sentinel Project which uses private satellites to collect evidence of crimes against civilian populations in Sudan
people
Arts and Entertainment
Balaban is indirectly responsible for the existence of Downton Abbey, having first discovered Julian Fellowes' talents as a screenwriter
tvCast members told to lose weight after snacking on set
Life and Style
More than half of young adults have engaged in 'unwanted but consensual sexting with a committed partner,' according to research
tech
Life and Style
A binge is classed as four or more alcoholic drinks for women and five or more for men, consumed over a roughly two-hour period
tech
Have you tried new the Independent Digital Edition apps?
Independent Dating
and  

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

iJobs Job Widget
iJobs Money & Business

Biztalk - outstanding opportunity

£75000 - £85000 per annum + ex bens: Deerfoot IT Resources Limited: Biztalk Te...

Trade Desk Specialist (FIX, Linux, Windows, Network Security)

£60000 per annum: Harrington Starr: Trade Desk Specialist (FIX, Linux, Windows...

Service Desk Analyst (Windows, Active Directory, ITIL, Reuter)

£35000 per annum: Harrington Starr: Service Desk Analyst (Windows, Active Dire...

Network Engineer (CCNA, CCNP, Linux, OSPF, BGP, Multicast, WAN)

£40000 per annum: Harrington Starr: Network Engineer (CCNA, CCNP, Linux, OSPF,...

Day In a Page

A History of the First World War in 100 Moments: Peace without magnanimity - the summit in a railway siding that ended the fighting

A History of the First World War in 100 Moments

Peace without magnanimity - the summit in a railway siding that ended the fighting
Scottish independence: How the Commonwealth Games could swing the vote

Scottish independence: How the Commonwealth Games could swing the vote

In the final part of our series, Chris Green arrives in Glasgow - a host city struggling to keep the politics out of its celebration of sport
Out in the cold: A writer spends a night on the streets and hears the stories of the homeless

A writer spends a night on the streets

Rough sleepers - the homeless, the destitute and the drunk - exist in every city. Will Nicoll meets those whose luck has run out
Striking new stations, high-speed links and (whisper it) better services - the UK's railways are entering a new golden age

UK's railways are entering a new golden age

New stations are opening across the country and our railways appear to be entering an era not seen in Britain since the early 1950s
Conchita Wurst becomes a 'bride' on the Paris catwalk - and proves there is life after Eurovision

Conchita becomes a 'bride' on Paris catwalk

Alexander Fury salutes the Eurovision Song Contest winner's latest triumph
Pétanque World Championship in Marseilles hit by

Pétanque 'world cup' hit by death threats

This year's most acrimonious sporting event took place in France, not Brazil. How did pétanque get so passionate?
Whelks are healthy, versatile and sustainable - so why did we stop eating them in the UK?

Why did we stop eating whelks?

Whelks were the Victorian equivalent of the donor kebab and our stocks are abundant. So why do we now export them all to the Far East?
10 best women's sunglasses

In the shade: 10 best women's sunglasses

From luxury bespoke eyewear to fun festival sunnies, we round up the shades to be seen in this summer
Germany vs Argentina World Cup 2014: Lionel Messi? Javier Mascherano is key for Argentina...

World Cup final: Messi? Mascherano is key for Argentina...

No 10 is always centre of attention but Barça team-mate is just as crucial to finalists’ hopes
Siobhan-Marie O’Connor: Swimmer knows she needs Glasgow joy on road to Rio

Siobhan-Marie O’Connor: Swimmer needs Glasgow joy on road to Rio

18-year-old says this month’s Commonwealth Games are a key staging post in her career before time slips away
The true Gaza back-story that the Israelis aren’t telling this week

The true Gaza back-story that the Israelis aren’t telling this week

A future Palestine state will have no borders and be an enclave within Israel, surrounded on all sides by Israeli-held territory, says Robert Fisk
A History of the First World War in 100 Moments: The German people demand an end to the fighting

A History of the First World War in 100 Moments

The German people demand an end to the fighting
New play by Oscar Wilde's grandson reveals what the Irish wit said at his trials

New play reveals what Oscar Wilde said at trials

For a century, what Wilde actually said at his trials was a mystery. But the recent discovery of shorthand notes changed that. Now his grandson Merlin Holland has turned them into a play
Can scientists save the world's sea life from

Can scientists save our sea life?

By the end of the century, the only living things left in our oceans could be plankton and jellyfish. Alex Renton meets the scientists who are trying to turn the tide
Richard III, Trafalgar Studios, review: Martin Freeman gives highly intelligent performance

Richard III review

Martin Freeman’s psychotic monarch is big on mockery but wanting in malice