KPMG and a load of scrap


KPMG and a load of scrap

South African brothers Marshall and Richard Cooper lived the high life in Canada, funded by ‘gifts’ from a Jersey company established by their father – and KPMG.

He was once the uncontested king of scrap. So large was Marshall Cooper snr empire that Chicks Scrap Metal became a household name. As is customary in that trade most of his scrap was sent abroad.  And, as likely, most of the profits were kept abroad too, well away from the predatory eyes of the South African Revenue Service. 

While few will disagree that death and taxes are best avoided as long as possible, it is less widely accepted that both are ultimately inevitable.

Marshall Cooper appears to have succeeded in keeping the South African taxman in the dark to the end; it is the tax authorities in Canada – to which country he and his family emigrated in the early 1990s – who cottoned on to the elaborate offshore “sham trust” setup where Cooper had hidden his vast untaxed fortune.  And those authorities are now demanding their cruel cut.

Right now, there is another reason why South Africans will be interested in the unhappy unravelling of Cooper’s offshore tax-evasion schemes: they were set up and operated for him by KPMG.

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Keywords:
Kpmg
KPMG Jersey
KPMG Canada
Marshall Cooper
Richard Cooper
Chicks Scrap Metal
tax evasion
offshore banking
Robin James
Africa Foundation
Croycam Ltd
Isle Of Man
limited guarantee companies
KPMG Overseas Company Structure Plan
Ogral Company Limited
Canadian tax law
Canadian Revenue Authority
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Submitted by : Barry Midgley of DURBAN on 2017-10-03 12:44:16
At the outset let me state that I believe taxing ones labour is immoral and anyone who dreams up a scheme that evades tax deserves the thumbs up. PAYE is a misnomer, in reality it is pay to work and any law based on an immoral code is bound to attract attention. I would support hypothecated tax schemes if they were for inter alia a national health care system and a pension – here you contribute the same amount and get the same service or benefit.
The article above makes you wonder about professional status and no sooner have the accountants been sprung along comes the South African Reserve Bank (a private bank I might add) to the rescue and KPMG are too big to fail. The large corporate organisations must not ditch their Dutch Uncles.
When plunder becomes a way of life for a group of men living together in society, they create for themselves in the course of time, a legal system that authorizes it and a moral code that glorifies it.” – Economic Sophisms, Frederic Bastiat 1801-1850
What does the Reserve Bank know and what are they attempting to brush under the carpet? Perhaps another quotation might help.
“The few who understand the system, will either be so interested from its profits or so dependent on its favors, that there will be no opposition from that class.” . . . “Let me issue and control a nation’s money and I care not who writes the laws.” – Mayer Amschel Bauer Rothschild, 1744-1812
Does history teach us nothing?

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