The Emerging Accounts Mystery

The Times allegations against Adam Werritty and his funders are so explosive because they are so detailed. Not only do they have the £147,000 coming in, but they also have the breakdown of account spending across the world which would imply the paper has seen all of the bank details. Clues to who might have leaked those are littered throughout the story:

“Oliver Hylton, a charity adviser to the head of CQS, a multibillion-pound hedge fund, befriended Mr Werritty through mutual Tory contacts. He became a director of Security Futures, the now defunct defence and energy consultancy that was also established by Mr Werritty, and agreed to become the sole director of Pargav in June last year — a move he acknowledged was “naive”. He came into my office and said I want to set up a new company. It sounds ridiculously naive in hindsight, but I agreed. I signed the documents and nothing more,” Mr Hylton said.”

As Guido reported yesterday CQS have bought in the spinners in order to handle this story and a quick glance over the list of other donors does not point to anyone who would have had the same access to the books. Given that he had a desk there, Werritty would have been in and out of the CQS offices, but it’s the “naive” Mr Hylton who, as the sole director, would have had to sign off said accounts…

UPDATE: Since publishing this post Guido has more and more reason to believe in a collusion between CQS/Hintze/Bell and this Times story. The other explanation is someone blagged the bank accounts of course. Lots of private spooks about…

UPDATE II: Oliver Hylton has been suspended suggesting he was the source of the leak.




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