Credit Crunch Over Hain’s £5,000 from Loan Company CEOHe Gave Ringing Commercial Endorsement to Backer

Carol Vorderman charges a fortune to advertise debt consolidation company FirstPlus. Peter Hain got a donation of £5,000 from rival debt consolidaton company boss, Neville Allport, his Picture Financial Services plc offers easy credit – “You can even borrow up to 125% of the value of your home” says the website “something that traditional lenders won’t consider.” They won’t consider such gearing because it is financially reckless.

Prominently displayed all over the company website is Hain’s ringing commerical endorsement. Guido can’t recall a serving minister’s endorsement ever being used to advertise a company in this way. Guido is sure that Hain’s endorsements and the £5,000 donation are entirely coincidental.

The 10.9% APR charged to credit maxed out debtors is very profitable, which probably explains why Ronnie Cohen’s Apax Private Equity is the biggest investor in Picture Financial Services plc. Remind Guido again where Hain stood on the Private Equity issue during the deputy-leadership campaign…

UPDATE : Looks like Hencke and Wintour on the Guardian are joining the chase this morning, with a front-page splash on Hain’s missing declarations. They are (rightly) fingering sleazy lobbyist Steven Morgan, identified by Guido in May 2007 as responsible for raising the cash.

The story points vaguely to an undeclared circa £10,000 from “City or business people”. Hain is said to be personally auditing the figures. Don’t forget the benefits-in-kind Peter…



Tip offs: 0709 284 0531
team@Order-order.com

GuidoFawkes Quote of the Day

Mary Creagh’s coded attack on Ed Miliband…

‘I want the country to be united behind a single vision, we aren’t going to do it by sort of having a Rubik’s Cube approach to politics’. 

Top Posts This Week

Guidogram: Sign up

Subscribe to the most succinct 7 days a week daily email read by thousands of Westminster insiders.

Facebook

UN WARNS THERESA MAY OVER SNAPCHAT UN WARNS THERESA MAY OVER SNAPCHAT
Environment Minister Totty Watch: Double Trouble Edition Environment Minister Totty Watch: Double Trouble Edition
PPS Reshuffle in Full PPS Reshuffle in Full
Irish billionaire injuncting media Irish billionaire injuncting media
GIANT JUMPING ROBOT CHEETAHS GIANT JUMPING ROBOT CHEETAHS
Carswell: It Was Ugly Carswell: It Was Ugly

Tom Watson’s Militant Money Tom Watson’s Militant Money
CLIMATE CHANGE COULD TRANSFORM HULL INTO ‘VENICE OF THE NORTH’ CLIMATE CHANGE COULD TRANSFORM HULL INTO ‘VENICE OF THE NORTH’
TAXPAYERS’ DE-RISKING VENTURE CAPITALISM TAXPAYERS’ DE-RISKING VENTURE CAPITALISM
It’s Not Easy Being A Green Tesla Driver It’s Not Easy Being A Green Tesla Driver
Investors Dumping Mirror Shares Investors Dumping Mirror Shares
BBC Conditioning Public to Back UN Climate Agreement BBC Conditioning Public to Back UN Climate Agreement
The Queen: Psychoactive Drugs The Queen: Psychoactive Drugs
Fifa Was Doooooomed! Fifa Was Doooooomed!
Mary Creagh’s Leadership Bid Crashes and Burns Mary Creagh’s Leadership Bid Crashes and Burns
Top LibDem: All MPs Lie Top LibDem: All MPs Lie
Awkward Ed Bercow Moment Awkward Ed Bercow Moment
Algenol: Fuel of the Future Algenol: Fuel of the Future
ENCRYPTION COMPANY HEADS TO SWITZERLAND TO FLEE NSA ENCRYPTION COMPANY HEADS TO SWITZERLAND TO FLEE NSA