CONFIDENTIAL
UK COMMS ONLY
FM HONG KONG
TO IMMEDIATE FCO
CONFIDENTIAL UK COMMS ONLY
340/1 HKD
17 OCT 1990
RECEIVED IN
RY
TELNO 2997
DESK OFFICER
TRY
OF 1111OOZ OCTOBER 90
INDEX
PA
on lakec
INFO IMMEDIATE GIBRALTAR
Int.sup.
130174
MDHIAN 3679
TOP COPY Q DIST 2/
382
SIC
PERSONAL FOR PAUL, HKD FROM GOVERNOR
GIBRALTAR PERSONAL FOR GOVERNOR
(381)
YRTELNO 1880: ALLEGED ASSET TRANSFER FROM HONG KONG TO UK
1. I TOO AM EXTREMELY SCEPTICAL. IT IS HIGHLY UNLIKELY THAT ANYONE COULD HAVE BROUGHT TOGETHER ASSETS OF THE ORDER OF U.S. DOLLARS 30 BILLION WITHOUT ATTRACTING ATTENTION. THE FIGURE IS SO LARGE THAT IT IS WELL BEYOND THE MEANS OF ANY INDIVIDUAL THAT WE CAN THINK OF. THE IDEA OF LENDING ON TO HMG AT NOMINAL INTEREST THROUGH SEVERAL THIRD PARTIES DOES NOTHING TO ENHANCE THE CREDIBILITY OF THE STORY.
2. EVEN IF THERE IS SUCH A PERSON, IT IS HIGHLY UNLIKELY THAT THE MONEY HAS BEEN BOOKED IN HONG KONG. IT IS EQUIVALENT TO ABOUT 20 PER CENT OF ALL DEPOSITS IN HONG KONG. IT IS BIGGER THAN THE SIZE OF THE BALANCE SHEET OF THE MAJORITY OF BANKS OPERATING IN HONG KONG. OUR RECORDS SHOW THAT IT IS ABOUT 15 TIMES THE TOTAL ASSETS OF THE NAT WEST BRANCH IN HONG KONG.
3. I SEE NO POINT IN RAISING HARES HERE BY TRYING TO ELICIT ANY INFORMATION FROM NAT WEST IN HONG KONG. IF YOU WISH TO CHECK THAT PART OF THE STORY, WOULD IT NOT BE AS EASY TO ASK NAT WEST IN LONDON?
WILSON
YYYY
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CONFIDENTIAL UK COMMS ONLY