Jim Mellon

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  • Mar.02.2018: "We didn't really appreciate the machinations" - Andy Wigmore: The Brexit Interview. “I'll tell you where Arron got his money from. About a year before, we sold a law firm called New Law for £43m and that money sat in an account and we used it to finance Brexit,” he said, adding that the Electoral Commission were aware of this and that financial records existed proving it. This prompted a discussion about confusion over Arron Banks' fortunes, which have been subject to media coverage including in relation to the Panama and Paradise papers, and the Isle of Man's Jim Mellon. "Most of that's bollocks," he told me. "It's not that," he paused. "I can tell you each of these. He's known Jim Mellon for years. They have the only bank on the Isle of Man which is privately owned – Conister Bank – and if you have a look it doesn't really set the world alight. It's tiny. I think it made something like £8m last year. When the Wall fell in Berlin, Jim borrowed a whole load of money from the West German govt and went and bought up all the East German properties. He's the largest landlord in Berlin and that's how he made his money. And he's made some very clever investments in other things". I asked if Banks's £6m loans to the Brexit camapaign had been repaid. "I don't know actually. I'll tell you what's happened though. There's the ongoing investigations. Then he got hit with a £2.5m tax bill for his donation to Brexit, and then he's been hit by HMRC for inheritance tax for £1m he gave to UKIP. That's ongoing at the moment. As for the rest of Arron's stuff, he's got business interests in Bermuda, business interests in Gibraltar... you have these little things called MGA's, like marketing companies, partnered with big re-insurance companies in Bermuda... He's probably one of the biggest underwriters of legal expense insurance in this country." ... ... Lesotho, Cambridge Analytica, J.J. Patrick, ByLine.