Swiss Adviser Denies Blame In Fraud Row With UAE Bank

By Christopher Crosby (January 4, 2022, 4:07 PM GMT) -- A Swiss financial adviser embroiled in a £19 million ($26 million) fraud claim has defended its role in transferring upscale London property for a Lebanese businessman, saying the sale was part of a "legitimate" tax plan. 

Virtue Trustees (Switzerland) AG denied, in a Dec. 20 filing at the High Court, having helped a businessman transfer a property near Hyde Park in central London beyond the reach of a lender seeking to recover unpaid debts.

The financial services firm, whose directors work for the Swiss adviser Kendris AG, said that the real estate was not held in the name of businessman Ahmad Mohammad...

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