Alleged tax dodger may be behind secret soccer deal
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