Tuesday, May 17, 2005

Robert Maxwell, Mossad, Pension theft, Pensions


"Robert Maxwell was born Jan Ludvik Hoch, in the Czech Republic, into a Jewish family.

"By the 1980s Maxwell's various companies owned the Daily Mirror, the Sunday Mirror, the Scottish Daily Record and Sunday Mail and several other newspapers, Pergamon Press....

"Evidence suggests that Maxwell's business empire was built on debt and deception. He had 'borrowed' millions of pounds of his employees' money from his companies' pension funds to prop up his financial position.

"On November 5, 1991 Maxwell disappeared from his luxury yacht, Lady Ghislane, which was cruising off the Canary Islands.

"Shortly before Maxwell 'died', a self-proclaimed former Mossad officer named Ari Ben-Menashe approached a number of news organizations in Britain and America with the allegation that Maxwell and the Daily Mirror's foreign editor, Nick Davies, were both long-time agents for the Israeli intelligence service, Mossad. Ben-Menashe also claimed that, in 1986, Maxwell had tipped off the Israeli Embassy in London that Mordechai Vanunu had given information about Israel's nuclear capability to the Sunday Times, then to the Daily Mirror.

"His death triggered a flood of revelations about his controversial business dealings and activities. It emerged that, without adequate prior authorization, he had used hundreds of millions of pounds from his companies' pension funds to finance his corporate debt, his frantic takeovers and his lavish lifestyle. Thousands of Maxwell employees lost their pensions."



Courts director's pension scandal.

From The Times

"HOWARD COHEN, a former director of Courts, transferred £3.9m out of the company’s pension fund and into a personal scheme just eight months before the furniture retailer collapsed into administration. The Courts pension fund has a deficit of at least £14m and the company’s pensioners face an uncertain future."



Today there is a pensions crisis....

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