Thursday, 4 July 2013

UBS Pension Scandal In London Borough of Havering

Despite plenty of press coverage (see below) of council "negligence" we still do not have any effective scrutiny of the Havering Conservatives by the local paper the Romford Recorder who have always been friendly to them.  The local police are also very friendly with senior members of the council including Council Leader Michael White who used to work for PITO (Police Information Technology Organisation).

When do these people accept responsiblity ? The Evening Standard reports that several members of Havering Council are paid £100,000 plus expenses.  It is also said locally that attendance payments for other external council connected agency work including, of course, property development opportunites have provided substantial further income as well as fortunes made from council homes sales and dealings.

£10 million skimmed off council pension fund

UBS and Kweku Adoboli

"Negligent" Council Chiefs and Icelandic Bank Scandal

Council leader Michael White just shrugs his shoulders at the £10 million UBS managed fund loss - imagine if any other council had lost £10 Million of council tax payers money ! Thats about six leisure centres complete with pool, 10 non-league football stadiums, and endless other benefits that could have gone to the local community instead of some dark corner in UBS. 

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