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
The giant banner displayed by Legia Warsaw supporters last night
football
News
news
Voices
The Ukip leader has consistently refused to be drawn on where he would mount an attempt to secure a parliamentary seat
voicesNigel Farage: Those who predicted we would lose momentum heading into the 2015 election are going to have to think again
News
Angelina Jolie with her father Jon Voight
people
PROMOTED VIDEO
Arts and Entertainment
Cara Delevingne made her acting debut in Anna Karenina in 2012
film Cara Delevingne 'in talks' to star in Zoolander sequel
News
i100
News
Melissa and Joan Rivers together at an NBC event in May 2014
peopleDaughter Melissa thanks fans for 'outpouring of support'
Life and Style
life
Life and Style
tech
Life and Style
One in six drivers cannot identify a single one of the main components found under the bonnet of an average car
motoringOne in six drivers can't carry out basic under-bonnet checks
News
ebooksAn evocation of the conflict through the eyes of those who lived through it
News
i100
Voices
Pupils educated at schools like Eton (pictured) are far more likely to succeed in politics and the judiciary, the report found
voices
Arts and Entertainment
Simon Cowell is less than impressed with the Strictly/X Factor scheduling clash
tvSimon Cowell blasts BBC for breaking 'gentlemen's agreement' in scheduling war
News
peopleWrestling veteran drifting in and out of consciousness
Arts and Entertainment
Shady character: Jon Hamm as sports agent JB Bernstein in Million Dollar Arm
filmReview: Jon Hamm finally finds the right role on the big screen in Million Dollar Arm
Latest stories from i100
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

Recruitment Consultants - Banking & Finance

£20000 - £30000 per annum + OTE £40 - £50K first year: SThree: SThree Group an...

Business Analyst,HR,Halifax,£400-450pd

£400 - £450 per day + competitive: Orgtel: My client, a leading bank, is curre...

Recruitment Consultants - IT - Trainee / Experienced

£20000 - £30000 per annum + OTE £40-50K first year: SThree: The SThree group i...

Cost Reporting-MI Packs-Edinburgh-Bank-£350/day

£300 - £350 per day + competitive: Orgtel: Cost Reporting Manager - MI Packs -...

Day In a Page

Ukraine crisis: The phoney war is over as Russian troops and armour pour across the border

The phoney war is over

Russian troops and armour pour into Ukraine
Potatoes could be off the menu as crop pests threaten UK

Potatoes could be off the menu as crop pests threaten UK

The world’s entire food system is under attack - and Britain is most at risk, according to a new study
Gangnam smile: why the Chinese are flocking to South Korea to buy a new face

Gangnam smile: why the Chinese are flocking to South Korea to buy a new face

Seoul's plastic surgery industry is booming thanks to the popularity of the K-Pop look
From Mozart to Orson Welles: Creative geniuses who peaked too soon

Creative geniuses who peaked too soon

After the death of Sandy Wilson, 90, who wrote his only hit musical in his twenties, John Walsh wonders what it's like to peak too soon and go on to live a life more ordinary
Caught in the crossfire of a cyber Cold War

Caught in the crossfire of a cyber Cold War

Fears are mounting that Vladimir Putin has instructed hackers to target banks like JP Morgan
Salomé's feminine wiles have inspired writers, painters and musicians for 2,000 years

Salomé: A head for seduction

Salomé's feminine wiles have inspired writers, painters and musicians for 2,000 years. Now audiences can meet the Biblical femme fatale in two new stage and screen projects
From Bram Stoker to Stanley Kubrick, the British Library's latest exhibition celebrates all things Gothic

British Library celebrates all things Gothic

Forthcoming exhibition Terror and Wonder: The Gothic Imagination will be the UK's largest ever celebration of Gothic literature
The Hard Rock Café's owners are embroiled in a bitter legal dispute - but is the restaurant chain worth fighting for?

Is the Hard Rock Café worth fighting for?

The restaurant chain's owners are currently embroiled in a bitter legal dispute
Caribbean cuisine is becoming increasingly popular in the UK ... and there's more to it than jerk chicken at carnival

In search of Caribbean soul food

Caribbean cuisine is becoming increasingly popular in the UK ... and there's more to it than jerk chicken at carnival
11 best face powders

11 best face powders

Sweep away shiny skin with our pick of the best pressed and loose powder bases
England vs Norway: Roy Hodgson's hands tied by exploding top flight

Roy Hodgson's hands tied by exploding top flight

Lack of Englishmen at leading Premier League clubs leaves manager hamstrung
Angel Di Maria and Cristiano Ronaldo: A tale of two Manchester United No 7s

Di Maria and Ronaldo: A tale of two Manchester United No 7s

They both inherited the iconic shirt at Old Trafford, but the £59.7m new boy is joining a club in a very different state
Israel-Gaza conflict: No victory for Israel despite weeks of death and devastation

Robert Fisk: No victory for Israel despite weeks of devastation

Palestinians have won: they are still in Gaza, and Hamas is still there
Mary Beard writes character reference for Twitter troll who called her a 'slut'

Unlikely friends: Mary Beard and the troll who called her a ‘filthy old slut’

The Cambridge University classicist even wrote the student a character reference
America’s new apartheid: Prosperous white districts are choosing to break away from black cities and go it alone

America’s new apartheid

Prosperous white districts are choosing to break away from black cities and go it alone