Investec's Panamania

Investec's Panamania

Shady offshore ventures were veiled in bland corporate spin. 

If a man is sufficiently unimaginative to produce evidence in support of a lie, he might just as well speak the truth at once”. – Oscar Wilde

So why then did Investec bother (finally) to issue a haughty statement early in June, trashing the notion that it is active in offshore tax havens? Investec had, once upon a time, the statement suggested, briefly entered the offshore banking world by accident (in 1998 it bought a UK bank which made it something of a speciality), but – as soon as possible (in 2013) – had got shot of all that shady stuff. You have to do some arithmetic to work out that this “briefly” lasted 15 years – and that’s on the unlikely assumption that  Investec hadn’t been doing its own offshore business before that.

Come to think of it, why would Investec have bought a bank called Guinness Flight Trust Services if it didn’t want to get into the offshore “Trust” business.

 A great deal has happened since the year 2000.

Like to see more ?

Subscribe to our on-line edition !

For a mere R305.00 per year you get the convenience of our online version including:
  • Twelve monthly issues of Noseweek delivered to your browser
  • A searchable archive
  • Access to every back issue since 1993 !
  • A downloadable PDF version

If it’s just the article you are after, you can purchase it by clicking here.

Tempted ?

For a taste of what awaits you, you are welcome to browse this free issue.

Share this article:

Reader's comments

Like to add your own comment ? Please click here to subscribe - OR -


While every reasonable effort is taken to ensure the accuracy and soundness of the contents of this publication, neither the authors nor the publishers of this website bear any responsibility for the consequences of any actions based on the information contained therein.