Al­leged tax dodger may be be­hind se­cret soc­cer deal

Weekend Argus (Saturday Edition) - - NEWS - KASHIEFA AJAM

IF SARS is wor­ried that al­leged tax dodger Dave King is the se­cret buyer of one of Scot­land’s two big­gest foot­ball teams and that he has made his 78year-old mom Agnes the sole owner of his as­sets, it’s not say­ing.

This week a Scot­tish news­pa­per claimed King had emerged as the pos­si­ble fu­ture owner of Rangers af­ter re­ports that the club was ef­fec­tively be­ing run by bankers Lloyds TSB.

And Agnes, ac­cord­ing to the Sun­day Mail, is the sec­ond-big­gest share­holder at Rangers.

With her £1.5 mil­lion (R18.75m) stake of three mil­lion or­di­nary shares, put into her name by her ty­coon son, she could hold the key to any po­ten­tial takeover of the Ibrox giants, the news­pa­per said.

King is a de­fen­dant in two sep­a­rate court cases with Sars – an action over his al­leged fail­ure to pay tax on for­tunes made through share-inflation schemes, and a crim­i­nal case which claims he sys­tem­at­i­cally hid his for­tune from in­ves­ti­ga­tors.

He faces 322 sep­a­rate charges in­clud­ing tax dodg­ing, vi­o­la­tion of ex­change con­trol mea­sures, ex­tor­tion and money-laun­der­ing and could get up to 15 years in jail if con­victed.

When asked to com­ment on the Scot­tish news­pa­pers’ re­ports, Sars said it had re­ceived a num­ber of me­dia in­quiries from jour­nal­ists re­gard­ing King’s tax af­fairs. Spokesper­son Adrian Lackay re­fused to com­ment in de­tail.

King’s SA at­tor­ney, Dale Co­hen, could not com­ment on the re­ports ei­ther. King’s global as­sets have been frozen by the South African courts at the re­quest of the rev­enue ser­vice. Tax of­fi­cials claim he owes them R1.2 bil­lion. King is stuck in South Africa as au­thor­i­ties have con­fis­cated his pass­port.

ON BALL: Dave King

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