More big names found to be involved in the Eclipse 35 programme

It has been found that the vast majority of participants in a tax avoidance scheme that was just shut down by the taxman were actually chief executives and many overpaid City bankers.

The Revenue service shut down a scheme called the Eclipse 35 film investment partnership and now it has been found that it had big business representatives such as Alain Grisay the F&C Asset Management chief executive and Markit’s Lance Uggla.

Up until now the coverage of the Eclipse 35 scheme has been mostly focused on football stars and their bosses. Previously, the tax tribunal has attacked Sven Goran Eriksson the England boss, Sir Alex Ferguson the Manchester United manager, and former Newcastle United player Nobby Solano. In addition a few more football stars including Graham Kavanagh and Jussi Jaaskelainen have been implicated in the scheme.

However, it is becoming clear now that most of the list is composed of hedge fund managers, City traders, and private equity advisers which offers a very rare glimpse into how some of the richest people in the world choose to hide their money away from Revenue services in an attempt of course to become more rich.

Out of the names that are traceable n the Eclipse 35 list there are 11 managers from Deutsche Bank, ten people who are or were bankers at Goldman Sachs, 25 hedge fund managers from a variety of large firms, and eight traders from UBS. Most of the bankers seem to be heads of departments or traders but those that are named would not comment on the situation.

Also included on the list of names were Magid Shenouda from Goldman Sachs, Raymond Key from Deutsche, Stefan Tsonev from KP Morgan, and Philippa Rose one of the most well known headhunters in London.