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www.theolivepress.es
G ibraltar October 26th - November 8th 2016 Oct 26th - Nov 8th
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Jolly bad EXCLUSIVE by Joe Duggan
A NOTORIOUS British conman with close links to Gibraltar is thought to be the mastermind behind a huge global investment fraud. Marbella-based Brett Jolly, 56, who is behind a number of companies in Gibraltar, is believed to be the head of Privilege Wealth (PW), exposed this week as an alleged multi-million pound scam.
Fraudster with links to Gibraltar and Marbella suspected of global scam The multi-national operation, which is part-registered in Gibraltar, has allegedly raised hundreds of millions of pounds from investors, including British pension schemes. But David Marchant, a USAbased investigative journalist, has uncovered evidence that the scheme has ‘no substance’ and is simply ‘a vehicle to swin-
MPs don’t care about Gibraltar LORD Ashdown has condemned British politicians who ‘don’t appreciate the gravity of Brexit for Gibraltar’. Describing Westminster as ‘isolationist’, he told the Olive Press he was extremely concerned for the future of the Rock. Speaking after his sold-out Gibunco Gibraltar Literary Festival talk, the former Liberal Democrat leader said the UK had done enormous ‘self harm’ in voting to leave the EU. The firm Remain supporter said: “I don’t think politicians in Westminster appreciate the gravity of Brexit for Britain, but I think in particular they don’t appreciate the gravity for Gibraltar.” The firm Remain supporter added: “I fear there is a huge spirit of isolationism in Britain led by people who should know better. “For most ordinary politicians I don’t think Gibraltar is much concern. Which is a shocking thing because Gibraltar has TOUGH TALKER: served our nation so well and re- Ashdown mains one of the crucial, vital strategic points in the world. “You can’t let Gibraltar suffer without everything we stand for suffering.” He added: “I think Brexit was the most telling example in modern history of a nation doing self harm to itself. I bitterly regret it. “We are a divided nation. The prime minister’s first steps should be to bring the nation together. “I fear what she has done may have more of a tendency to divide it. I don’t believe a hard Brexit is in Britain’s interest. “If we must Brexit, do so maintaining a position as close to Europe as possible.” The veteran politician, who has just released a book on spies during World War II, sparked fury last month when he compared Conservative Leave supporters to Nazi paramilitaries, labelling them ‘Tory Brexit brownshirts’. Prime Minister Theresa May has indicated she will pursue a ‘hard’ Brexit, with no compromise on freedom of movement in return for access to the EU single market. Ashdown said he ‘wanted May to succeed’, but expressed reservations about her opening negotiating stance.
dle investors’, with Jolly at its head. The Olive Press assisted Marchant in his investigations, which the Mail on Sunday also ran this weekend. It’s not the first time Jolly and other PW directors have been suspected of financial skulduggery. In 2013, Jolly’s Gibraltar-registered Green Planet Investment Limited was wound up by the UK High Court after 300 investors lost life savings totalling £14million buying non-existent Brazilian properties. Two years ago, former PW compliance director, Minette Compson, was banned by the
Gibraltar Financial Services Commission (GFSC) after an investigation into a £7.7 million investment fraud. The GFSC described Compson as ‘not a fit and proper person to carry out the aforesaid functions’. In the latest project, PW was offering annual returns of up to 12%, profits it claims are possible because it achieves 50% returns on payday loans to high-risk American borrowers. Members of Jolly’s team are said to include Andrew Sweeney, Mark Munnelly, Simon McGarrigle, Martin Sampson and Robbie Roche, with many of them based in Marbella. When Marchant put it to Jolly that he was in charge of PW he denied all accusations. Jolly said: “I do know the company, and have had dealings with them...I hadn’t heard of them until about three years ago, possibly a little longer. I can assure you I’m not a shareholder, director or employee, although I have invested some cash, as have a few of my associates.”
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Army positions uncovered ROYAL Engineers have uncovered 18th century military positions while cleaning up the Northern Defences. The soldiers made the incredible discovery while clearing debris and vegetation from Queens Line and Forbes Battery. The gun and mortar positions range from the 18th century to World War Two.
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