Fox 'request over Werritty company'

 

Liam Fox personally approached a prominent venture capitalist to ask him to help bankroll a company run by his friend Adam Werritty, it was claimed.

Jon Moulton said last night that following last year's general election he was asked by Dr Fox to provide funds to the firm, called Pargav, which he was told was involved in "security policy analysis and research".



According to a report yesterday in The Times, Pargav Ltd was set up as a not-for-profit company by Mr Werritty and was used to fund his jet-set lifestyle following Dr Fox on international engagements around the world.



Other backers were said to include a property investor involved in promoting Israel, and a corporate intelligence company with a close interest in Sri Lanka.



In a statement issued following Dr Fox's resignation, Mr Moulton said: "Before the last election I had made several, on the record, donations to support Dr Fox following a request to do so from a Conservative Party fundraiser.



"After the election I was asked by Dr Fox to provide funds to a non-profit group called Pargav involved in security policy analysis and research and after obtaining written assurances as to its activities I provided personal funding to Pargav.



"Neither I, nor any of my associates, have sought or received a benefit of any form from Pargav. I have not received an account of Pargav's activities, nor have I been involved at all with Pargav, since funding. I will not be doing this again."



It was not clear whether the prospect that the claims that Dr Fox sought funds for Mr Werritty's company were about to surface played any part in his decision to stand down.



According to The Times, £147,000 was paid into Pargav's bank account.



Earlier this week, Dr Fox told the Commons that although Mr Werritty - his best man and former flatmate - had joined him on 18 overseas visits since he became Defence Secretary, he was "not dependent on any transactional behaviour to maintain his income".



A spokesman for one of the reported donors to Pargav - the investment company Tamares Real Estate - confirmed yesterday that it had paid £3,000.



Tamares is owned by Poju Zabludowicz, the chairman of Bicom- an organisation which promotes understanding of Israel in Britain.



The spokesman said that Mr Zabludowicz had made the payments in order to support Pargav's work promoting peace in the Middle East - including arranging round table dialogues.



He said that Pargav appeared to be a continuation of one of Mr Werritty's previous companies, Security Futures, which was dissolved last year.



"Poju made a contribution to Security Futures for its peace promotional work and the latest invoice came in from Pargav. He understood it to be a continuation of that organisation's activities," the spokesman said.



Pargav is listed as having an office in Goswell Road in Clerkenwell, north London, although there appears to be no telephone number listed.



According to The Times, Pargav's sole director is Oliver Hylton - a charity adviser to the CQS hedge fund and a former director of Security Futures.



CQS's chief executive, Michael Hintze, is reported to have given Mr Werritty a desk and telephone line at the firm's London offices to run another organisation, Atlantic Bridge, which was wound up earlier this year after losing its charitable status.



Mr Hylton told The Times that Mr Werritty had asked him to become a director of Pargav in June last year.



"He came into my office and said I want to set up a new company. It sounds ridiculously naive in hindsight but I agreed. I signed the documents and nothing more," he said.



He added that he had regarded Mr Werritty as "an adviser of some sort" to Dr Fox.



"Anything he did was for the good of Liam Fox and supporting his office," he said.

According to the Daily Mail, Mr Moulton bought a British defence company eight months before he paid funds into the not-for-profit company that helped fund Mr Werritty's travels.



In February 2010, Mr Moulton reportedly paid £60 million for Gardner UK, which makes components for aircraft including RAF fighter jets and troop transporters.



He reportedly gave a sum of up to £35,000 to Pargav in October of that year.

PA

Start your day with The Independent, sign up for daily news emails
Have you tried new the Independent Digital Edition apps?
ebooks
ebooksA special investigation by Andy McSmith
2015 General Election
May2015

Poll of Polls

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 General

Ashdown Group: Senior VMware Platform Engineer - VMware / SAN / Tier3 DC

£45000 - £55000 per annum + benefits: Ashdown Group: Senior VMware Platform En...

Recruitment Genius: Purchasing Assistant

£10000 - £16000 per annum: Recruitment Genius: A distributor of specialist ele...

Recruitment Genius: Sales Ledger Assistant

£17000 - £19000 per annum: Recruitment Genius: A distributor of specialist ele...

Ashdown Group: Automated Tester / Test Analyst - .Net / SQL - Cheshire

£32000 per annum + pension, healthcare & 23 days holiday: Ashdown Group: A gro...

Day In a Page

Homeless Veterans campaign: Donations hit record-breaking £1m target after £300,000 gift from Lloyds Bank

Homeless Veterans campaign

Donations hit record-breaking £1m target after huge gift from Lloyds Bank
Flight MH370 a year on: Lost without a trace – but the search goes on

Lost without a trace

But, a year on, the search continues for Flight MH370
Germany's spymasters left red-faced after thieves break into brand new secret service HQ and steal taps

Germany's spy HQ springs a leak

Thieves break into new €1.5bn complex... to steal taps
Mark Zuckerberg’s hiring policy might suit him – but it wouldn’t work for me

Mark Zuckerberg’s hiring policy might suit him – but it wouldn’t work for me

Why would I want to employ someone I’d be happy to have as my boss, asks Simon Kelner
Russia's gulag museum 'makes no mention' of Stalin's atrocities

Russia's gulag museum

Ministry of Culture-run site 'makes no mention' of Stalin's atrocities
Virginia Ironside was my landlady: What is it like to live with an agony aunt on call 24/7?

Virginia Ironside was my landlady

Tim Willis reveals what it's like to live with an agony aunt on call 24/7
8 best workout DVDs

8 best workout DVDs

If your 'New Year new you' regime hasn’t lasted beyond February, why not try working out from home?
War with Isis: Iraq's government fights to win back Tikrit from militants - but then what?

Baghdad fights to win back Tikrit from Isis – but then what?

Patrick Cockburn reports from Kirkuk on a conflict which sectarianism has made intractable
Living with Alzheimer's: What is it really like to be diagnosed with early-onset dementia?

What is it like to live with Alzheimer's?

Depicting early-onset Alzheimer's, the film 'Still Alice' had a profound effect on Joy Watson, who lives with the illness. She tells Kate Hilpern how she's coped with the diagnosis
The Internet of Things: Meet the British salesman who gave real-world items a virtual life

Setting in motion the Internet of Things

British salesman Kevin Ashton gave real-world items a virtual life
Election 2015: Latest polling reveals Tories and Labour on course to win the same number of seats - with the SNP holding the balance of power

Election 2015: A dead heat between Mr Bean and Dick Dastardly!

Lord Ashcroft reveals latest polling – and which character voters associate with each leader
Audiences queue up for 'true stories told live' as cult competition The Moth goes global

Cult competition The Moth goes global

The non-profit 'slam storytelling' competition was founded in 1997 by the novelist George Dawes Green and has seen Malcolm Gladwell, Salman Rushdie and Molly Ringwald all take their turn at the mic
Pakistani women come out fighting: A hard-hitting play focuses on female Muslim boxers

Pakistani women come out fighting

Hard-hitting new play 'No Guts, No Heart, No Glory' focuses on female Muslim boxers
Leonora Carrington transcended her stolid background to become an avant garde star

Surreal deal: Leonora Carrington

The artist transcended her stolid background to become an avant garde star
LGBT History Month: Pupils discuss topics from Sappho to same-sex marriage

Education: LGBT History Month

Pupils have been discussing topics from Sappho to same-sex marriage