"Now it can be revealed that he is separately facing legal action over payments that he and others received as directors of a UK investment firm that managed assets based in Kazakhstan. Court documents show that Evans and the other directors have been accused by a former executive of personally enriching themselves by pocketing millions in alleged illicit payments. Evans and the other directors deny the allegations, which they said were part of meritless lawsuits."
"They are accused of receiving the payments as part of a deal in which they sold the assets of the investment firm for a fraction of their value. Court papers allege David Evans received a $1m bonus specifically for approving the deal as a director, as well as an annual salary of $250,000, and other bonuses worth hundreds of thousands of dollars."
Lord Evans of Watford, an 82-year-old longtime Labour peer, faces allegations that he and fellow directors of a UK investment firm received illicit payments tied to assets based in Kazakhstan. Court documents allege personal enrichment, including a $1m bonus for approving a deal, an annual salary of $250,000, and other sizable bonuses, and claim the firm’s assets were sold for a fraction of their value. Evans and the other directors deny the accusations as meritless and blame a disgruntled former executive. The disputes are being contested in court cases in both the UK and the US. He has been suspended from the House of Lords and lost the Labour whip.
#house-of-lords-suspension #lobbying-cash-for-access #corruption-allegations #kazakhstan-investment-dispute
Read at www.theguardian.com
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