CAMERON TURNED LONDON INTO MONEY LAUNDERING CAPITAL – LABOUR’S MAYORAL CANDIDATE

 

David Cameron has allowed London to become the world’s capital for money laundering, Sadiq Khan has claimed.

Labour’s candidate for London Mayor, Sadiq Khan says London is now the money laundering capital of the world, and David Cameron is to blame.

The former shadow Minister for says the Government’s failure to close down UK-administered tax havens has allowed the super rich to launder money through the property market which in turn has ramped up house prices in London.

“My worry is London is the world’s capital for money laundering and we have people from around the world laundering money through London’s property market leading to hyper inflation in property.

“What possible reason could there be to buy a property using an offshore company

Mr Khan, who is hoping to end eight years of Tory rule under Boris Johnson in the capital, says he doesn’t have the power to stop the abuse.

But he says the Prime Minister and George Osborne could act.

“The Mayor of New York has the powers to make transactions transparent at the moment I don’t have that power.

So I am calling on David Cameron and George Osborne to make sure there is transparency on property transactions.

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“It’s unacceptable and David Cameron had the audacity to go to Singapore last year and the lecture them on the importance of transparency but there’s been no action here.

If you buy a property in New York the people behind the company have to be named.

“The Land Registry in the UK should make sure that everybody who buys a property should be named.” he said.

Mr Khan is a battling with Tory Zac Goldsmith to win the London Mayoralty on May 5. Elections are also taking place in Scotland, Wales and local councils in England that day.

Read more at  http://www.mirror.co.uk/news/uk-news/london-now-worlds-capital-money-772980

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