January 24, 2012

Harry Redknapp 'kept offshore account secret'

Harry Redknapp did not tell his accountant or bank about an offshore account for years, jurors have heard.
He is accused of receiving secret payments from former Portsmouth chairman Milan Mandaric, 73, while he was manager at the south coast club.

The Tottenham boss only revealed he had the Monaco-based account after being asked by the Premier League's Quest inquiry, Southwark Crown Court heard.
Mr Mandaric and Mr Redknapp, 64, deny charges of cheating the public revenue.
In the opening minutes of the second day of the trial, the jury heard that Mr Redknapp kept his Monaco account a secret from his accountant for four-and-a-half years and from his bank relations manager for five years and eight months.

The court heard that Mr Redknapp told the Quest inquiry into player transfers that he had an accountant who invested the money in his Monaco account for him.
Jurors have heard how Mr Redknapp received a percentage of net profit from transfers during his time at Portsmouth.
Mr Redknapp, the prosecution alleged, said that his accountant told him that his Monaco account had done "not very well" and that half of his investment had been lost.
The prosecution said that Quest later received a letter from Mr Mandaric saying he had opened the Monaco account for Mr Redknapp and invested money there for him.
On Monday, the court was told Mr Redknapp received $295,000 which he had no intention of declaring for tax purposes.

He was paid the "bungs or offshore bonuses" by Mr Mandaric, it was claimed.
Jurors were told secret payments were made to Mr Redknapp's Monaco bank account in the name of his dog.
The trial continues.

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