THE GRANT THORNTON CONNECTION

In his judgement, Mr. Justice Millett stated that a Grant Thornton partner introduced Jackson & Co. to various schemes and payee companies. This link is now examined.

So how did Roger Humphrey (not an accountant) and Grant Thornton become involved?¹³

Before joining Grant Thornton, Roger Humphrey was employed during 1979/80 by Minet Financial Management Limited in London. This company had a subsidiary in Guernsey, Minet Trust Co. (International) Limited. In common with other off-shore havens, Guernsey legally enables individuals and companies to hold nominee accounts and facilitates secrecy/privacy concerning their financial dealings. Over the years, major finance houses have located in places like Guernsey and offer services to a variety of clients. In common with many other financial intermediaries, part of Minet Trust's business involved the handling of funds through trusts and other arrangements for wealthy clients who wished to keep their monies in secret "off-shore" tax havens, such as Guernsey.

In late 1979/80, Humphrey made a business trip to Guernsey. By chance he met the managing director of Minet Trust who was accompanied by Yves Coulon, a French lawyer. Coulon eventually invited Humphrey to act as an intermediary, an offer which Humphrey accepted as it required him to pass on, rather than execute, the instructions. These instructions were dictated to Humphrey and Coulon did not put them in writing.

During the course of his dealings with Coulon, Humphrey became aware that payments were being received from Tunisia and that the amounts were then placed to the account of various shell-companies created by Minet Trust. The first such company, Humphrey recalls, was Anderfield Limited (incorporated in February 1980). Humphrey was not an officer of this company but became aware that funds received were transmitted onwards to various bank accounts in France, in accordance with Coulon's instructions. He also became aware that the arrangements were being operated for the benefit of Sophie Ben Hassine¹⁴, a prominent Tunisian. Humphrey understood that Ben Hassine had substantial funds which she wished to transfer to France via England and knew that although she lived in France, she did not wish to have her funds in France in her name. There was nothing unusual in these arrangements, as Minet Trust was routinely and quite legally engaged in the handling of funds off-shore for prominent and wealthy European clients.

Humphrey left Minet in November 1981 to join Tyndall Bank in London. In common with other respected businesses, the Bank was also engaged in the provision of off-shore services to clients. Coulon suggested that the existing scheme or arrangements should also move with him. Humphrey suggested the idea to John Botting, a director of Tyndall Trust International (IOM) Limited. Humphrey recalls that Botting and Coulon probably met without his presence; he is not sure what enquiries were made of the links with Coulon or Ben Hassine. Humphrey was not concerned since he was acting as a messenger/intermediary. During his employment at Tyndall, Humphrey also eventually met Ben Hassine.

On 14th December 1981, shortly after Humphrey had moved to Tyndall Trust, Euro-Arabian Jewellery Limited¹⁵ was incorporated (originally under the name Boldford Limited) and Humphrey became an authorised bank signatory to its Bank account held with Midland Bank in London. Humphrey was also a signatory for Lenthorpe Limited and Palmerstone Limited and three further shell-companies (or 'cut-outs') created by Tyndall Bank. In his capacity as a signatory on the account of Lenthorpe Limited, Humphrey became aware, for the first time, that the funds in question were being remitted from AGIP (Africa) Limited.

In November 1982, Humphrey left Tyndalls and joined Thornton Baker (now Grant Thornton). Once again, Coulon suggested that the schemes move with him. Humphrey was not certain whether this would be possible but soon became aware that Grant Thornton had a `correspondent firm', Jackson & Co. in the Isle of Man which engaged in similar operations. In January 1983, Humphrey introduced Coulon to Barry Jackson, but for many months Coulon continued to pass his instructions to Jackson & Co. through Humphrey. Thereafter, Humphrey claims that Coulon dealt directly with Jackson & Co. and that May 1983 was the last time he was actively involved in relation to instructing the Bank to effect transfers through another payee company, Windlist Limited.

The relationship between Grant Thornton and Jackson & Co., however, continued¹⁶ until 1989 when, in the wake of the High Court judgement, Grant Thornton's senior partner announced that

In response to press comments, Grant Thornton's senior partner, Michael Lickiss¹⁷, acknowledged:

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