Bank Denies Corruption In Man City Bid

The investment bank that brokered the controversial £81.6m takeover deal by
former Thai Prime Minister Thaksin Shinawatra for Manchester City has
strenuously denied that the money on the table is from a corrupt source.

Keith Harris, executive chairman of Seymour Pierce Investment Bank which
oversaw the finances, stated: ‘The money to buy Manchester City is clean. It has
been legitimately and transparently transferred to the UK.’

Thaksin is currently facing corruption charges in Thailand over a property
deal and has had £830m worth of assets frozen. Thailand’s finance minister has
subsequently questioned the source of Thaksin’s money to buy Manchester City,
stating that the funds were a ‘mystery’.

However, Seymour Pierce’s Harris stated that the situation in Thailand had no
bearing on Thaksin’s dealings with Manchester City.

‘The charges levelled against him are politically motivated by a military
government that is unelected. He was the Prime Minister there and was
exceptionally popular. He was also a successful businessman.

‘A number of bank accounts in Thailand, some personal and some corporate,
have been frozen. But the money that has been used to finance the takeover and
which will then be used to invest in the club is in English bank accounts and
beyond their reach.’